Aquatic Capital Management LLC Purchases 52,384 Shares of GitLab Inc. (NASDAQ:GTLB)

Aquatic Capital Management LLC boosted its position in GitLab Inc. (NASDAQ:GTLB) by 88.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 111,384 shares of the company’s stock after acquiring an additional 52,384 shares during the period. Aquatic Capital Management LLC owned 0.07% of GitLab worth $6,276,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of GTLB. EverSource Wealth Advisors LLC increased its position in GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 513 shares during the period. IMG Wealth Management Inc. bought a new position in GitLab in the fourth quarter worth about $46,000. Raleigh Capital Management Inc. purchased a new stake in GitLab in the fourth quarter worth about $66,000. Smartleaf Asset Management LLC boosted its position in GitLab by 1,067.6% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after acquiring an additional 1,153 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC raised its position in shares of GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock worth $74,000 after acquiring an additional 1,282 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GTLB stock opened at $47.16 on Friday. The company has a 50-day moving average of $50.60 and a two-hundred day moving average of $57.88. The firm has a market cap of $7.65 billion, a PE ratio of -147.38 and a beta of 0.79. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18.

Insiders Place Their Bets

In other news, CFO Brian G. Robins sold 10,000 shares of the firm’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 sale, the chief financial officer now owns 267,380 shares of the company’s stock, valued at approximately $18,938,525.40. This trade represents a 3.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Susan L. Bostrom sold 40,000 shares of GitLab stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $51.88, for a total transaction of $2,075,200.00. Following the sale, the director now owns 144,913 shares in the company, valued at $7,518,086.44. This represents a 21.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 323,985 shares of company stock worth $16,234,951 in the last quarter. 21.36% of the stock is owned by company insiders.

Analyst Ratings Changes

GTLB has been the subject of a number of recent research reports. Truist Financial lowered their price target on shares of GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Barclays cut their price target 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. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Finally, Morgan Stanley cut their price objective on shares of GitLab from $77.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average price target of $71.73.

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.