Vontobel Holding Ltd. Invests $549,000 in GitLab Inc. (NASDAQ:GTLB)

Vontobel Holding Ltd. bought a new position in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 9,735 shares of the company’s stock, valued at approximately $549,000.

Other large investors also recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd purchased a new position in GitLab in the 3rd quarter worth $678,000. State Street Corp increased its position in shares of GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after acquiring an additional 111,997 shares during the period. Barclays PLC increased its position in shares of GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after acquiring an additional 40,171 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of GitLab in the third quarter valued at about $6,865,000. Finally, Barton Investment Management increased its position in shares of GitLab by 99.4% in the fourth quarter. Barton Investment Management now owns 335,648 shares of the company’s stock valued at $18,914,000 after acquiring an additional 167,290 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GTLB shares. Macquarie restated an “outperform” rating and issued a $90.00 price objective on shares of GitLab in a research report on Wednesday, January 15th. Truist Financial restated a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Scotiabank boosted their price objective on shares of GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research report on Wednesday, December 4th. Finally, Piper Sandler boosted their price target on shares of GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.42.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 547,679 shares of the firm’s stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the transaction, the director now directly owns 58,471 shares in the company, valued at approximately $3,491,888.12. This trade represents a 90.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Schulman sold 2,996 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08. Following the transaction, the insider now owns 129,223 shares in the company, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 740,257 shares of company stock valued at $44,710,867. 21.36% of the stock is owned by corporate insiders.

GitLab Stock Down 2.4 %

Shares of NASDAQ:GTLB opened at $69.82 on Thursday. The firm’s 50 day moving average price is $63.69 and its 200 day moving average price is $57.45. The stock has a market cap of $11.33 billion, a price-to-earnings ratio of -218.19 and a beta of 0.63. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $76.41.

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.