GitLab Inc. (NASDAQ:GTLB) Shares Bought by Atika Capital Management LLC

Atika Capital Management LLC grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 23,140.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 116,200 shares of the company’s stock after purchasing an additional 115,700 shares during the period. Atika Capital Management LLC’s holdings in GitLab were worth $6,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GTLB. Norges Bank bought a new stake in GitLab during the fourth quarter worth approximately $279,089,000. Artisan Partners Limited Partnership boosted its stake in shares of GitLab by 55.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock worth $227,318,000 after acquiring an additional 1,443,160 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of GitLab by 4,042.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company’s stock worth $82,011,000 after acquiring an additional 1,420,248 shares during the last quarter. ARK Investment Management LLC raised its position in shares of GitLab by 345.2% during the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock worth $65,394,000 after purchasing an additional 899,823 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in shares of GitLab by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock valued at $740,585,000 after purchasing an additional 885,955 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Trading Down 3.4 %

GitLab stock opened at $41.09 on Friday. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The firm’s fifty day simple moving average is $59.82 and its 200-day simple moving average is $58.89. The company has a market capitalization of $6.67 billion, a P/E ratio of -128.41 and a beta of 0.79.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GTLB shares. JPMorgan Chase & Co. cut their price objective on GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. DA Davidson cut their price target on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, February 28th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Barclays cut their target price on shares of 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, Mizuho lowered their price target on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a report on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $75.09.

Insiders Place Their Bets

In other news, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was 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 owns 267,380 shares in the company, valued at approximately $18,938,525.40. This represents a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan L. Bostrom sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 directly owns 144,913 shares in the company, 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 311,886 shares of company stock valued at $17,736,229 over the last three months. 21.36% of the stock is currently owned by insiders.

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.