GitLab Inc. (NASDAQ:GTLB) Shares Bought by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in GitLab Inc. (NASDAQ:GTLB) by 9.5% during the fourth quarter, HoldingsChannel reports. The firm owned 27,980 shares of the company’s stock after buying an additional 2,426 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in GitLab were worth $1,577,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of GTLB. ARK Investment Management LLC increased its stake in GitLab by 345.2% in the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock valued at $65,394,000 after purchasing an additional 899,823 shares during the period. Amundi increased its stake in shares of GitLab by 613.0% during the fourth quarter. Amundi now owns 616,806 shares of the company’s stock worth $38,020,000 after acquiring an additional 530,297 shares during the period. Atreides Management LP acquired a new position in shares of GitLab during the third quarter worth about $25,605,000. Los Angeles Capital Management LLC increased its stake in shares of GitLab by 67.7% during the fourth quarter. Los Angeles Capital Management LLC now owns 1,003,010 shares of the company’s stock worth $56,520,000 after acquiring an additional 404,895 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of GitLab by 128.8% during the third quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock worth $28,577,000 after acquiring an additional 312,119 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GTLB. Macquarie reiterated an “outperform” rating and set a $90.00 price target on shares of GitLab in a research note on Tuesday, March 4th. Morgan Stanley boosted their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Robert W. Baird decreased their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. Needham & Company LLC reissued a “buy” rating and set a $85.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Finally, The Goldman Sachs Group upped their price target on shares of GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $75.38.

GitLab Stock Down 0.3 %

GitLab stock opened at $51.94 on Tuesday. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $74.18. The firm has a fifty day moving average of $63.57 and a 200-day moving average of $59.27. The firm has a market capitalization of $8.43 billion, a P/E ratio of -162.31 and a beta of 0.67.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 547,679 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total value 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 represents a 90.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.24, for a total transaction of $562,400.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at $15,037,451.20. The trade was a 3.61 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 727,007 shares of company stock valued at $43,843,249 over the last 90 days. Corporate insiders own 21.36% of the company’s stock.

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.