Vestor Capital LLC Buys New Position in GitLab Inc. (NASDAQ:GTLB)

Vestor Capital LLC bought a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 44,851 shares of the company’s stock, valued at approximately $2,527,000.

Other hedge funds also recently modified their holdings of the company. OneDigital Investment Advisors LLC purchased a new position in GitLab in the third quarter worth $200,000. Charles Schwab Investment Management Inc. boosted its position in GitLab by 8.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock worth $38,728,000 after purchasing an additional 57,381 shares during the last quarter. Cerity Partners LLC boosted its position in GitLab by 772.3% in the third quarter. Cerity Partners LLC now owns 56,307 shares of the company’s stock worth $2,902,000 after purchasing an additional 49,852 shares during the last quarter. Whetstone Capital Advisors LLC boosted its position in GitLab by 60.8% in the third quarter. Whetstone Capital Advisors LLC now owns 110,544 shares of the company’s stock worth $5,697,000 after purchasing an additional 41,804 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in GitLab by 360.4% in the third quarter. Bank of Montreal Can now owns 59,200 shares of the company’s stock worth $3,058,000 after purchasing an additional 46,343 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robin Schulman sold 7,330 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.98, for a total value of $417,663.40. Following the completion of the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $6,945,463.14. This represents a 5.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan L. Bostrom sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total value of $2,075,200.00. Following the completion of the transaction, the director now owns 144,913 shares of the company’s stock, valued at $7,518,086.44. The trade was a 21.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 764,011 shares of company stock worth $45,750,733 in the last ninety days. 21.36% of the stock is currently owned by insiders.

GitLab Stock Down 0.4 %

Shares of NASDAQ GTLB opened at $50.95 on Friday. The firm has a market capitalization of $8.27 billion, a P/E ratio of -159.22 and a beta of 0.67. The stock’s 50-day simple moving average is $62.77 and its two-hundred day simple moving average is $59.20. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $74.18.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. DA Davidson cut their price objective on GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, February 28th. Mizuho cut their price objective on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Cantor Fitzgerald restated an “overweight” rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. Barclays lowered their target price on GitLab from $70.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 4th. Finally, Robert W. Baird lowered their target price on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Monday, March 3rd. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $75.38.

GitLab Company 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.