Vanguard Group Inc. Has $740.59 Million Stake in GitLab Inc. (NASDAQ:GTLB)

Vanguard Group Inc. grew its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 7.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 13,142,592 shares of the company’s stock after purchasing an additional 885,955 shares during the period. Vanguard Group Inc. owned about 8.10% of GitLab worth $740,585,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the stock. Y Intercept Hong Kong Ltd bought a new position in GitLab during the 3rd quarter valued at $678,000. State Street Corp lifted its position in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after purchasing an additional 111,997 shares in the last quarter. Barclays PLC boosted its holdings in GitLab by 189.1% during the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in GitLab in the 3rd quarter valued at about $6,865,000. Finally, Swiss National Bank lifted its position in shares of GitLab by 3.7% during the 4th quarter. Swiss National Bank now owns 215,000 shares of the company’s stock worth $12,115,000 after buying an additional 7,700 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In related news, insider Sytse Sijbrandij sold 84,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total value of $5,291,160.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Blasing sold 6,500 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total transaction of $410,735.00. Following the completion of the transaction, the director now directly owns 128,233 shares of the company’s stock, valued at approximately $8,103,043.27. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,216 shares of company stock valued at $19,841,492 in the last 90 days. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Performance

NASDAQ:GTLB opened at $48.38 on Friday. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $74.18. The stock has a fifty day moving average of $61.70 and a 200 day moving average of $59.18. The firm has a market capitalization of $7.85 billion, a price-to-earnings ratio of -151.19 and a beta of 0.67.

Wall Street Analyst Weigh In

A number of analysts recently commented on GTLB shares. KeyCorp increased their price target on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Barclays decreased their target price on GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Truist Financial reissued a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of GitLab in a report on Friday, December 6th. DA Davidson decreased their price objective on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, February 28th. Finally, The Goldman Sachs Group boosted their target price on shares of GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $75.52.

GitLab Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.