Swiss National Bank Boosts Stock Holdings in GitLab Inc. (NASDAQ:GTLB)

Swiss National Bank boosted its position in GitLab Inc. (NASDAQ:GTLB) by 3.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 215,000 shares of the company’s stock after purchasing an additional 7,700 shares during the period. Swiss National Bank owned about 0.13% of GitLab worth $12,115,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of GTLB. OneDigital Investment Advisors LLC purchased a new position in GitLab in the third quarter valued at approximately $200,000. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of GitLab by 111.1% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,317 shares of the company’s stock worth $17,334,000 after acquiring an additional 176,967 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of GitLab by 8.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock worth $38,728,000 after acquiring an additional 57,381 shares in the last quarter. Cerity Partners LLC lifted its position in shares of GitLab by 772.3% during the third quarter. Cerity Partners LLC now owns 56,307 shares of the company’s stock worth $2,902,000 after acquiring an additional 49,852 shares in the last quarter. Finally, Whetstone Capital Advisors LLC lifted its position in shares of GitLab by 60.8% during the third quarter. Whetstone Capital Advisors LLC now owns 110,544 shares of the company’s stock worth $5,697,000 after acquiring an additional 41,804 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 547,679 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the completion of the sale, the director now owns 58,471 shares of the company’s stock, valued at $3,491,888.12. This trade represents a 90.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 724,011 shares of company stock worth $43,675,533. Company insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Mizuho dropped their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and set a $80.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Scotiabank upped their price target on shares of GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price target (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Finally, Wells Fargo & Company upped their price target on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $75.38.

GitLab Trading Down 0.9 %

GitLab stock opened at $51.16 on Friday. The firm has a 50-day moving average of $62.95 and a 200-day moving average of $59.18. The firm has a market cap of $8.30 billion, a P/E ratio of -159.88 and a beta of 0.67. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $74.18.

About GitLab

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.