BNP Paribas Financial Markets Acquires 355 Shares of GitLab Inc. (NASDAQ:GTLB)

BNP Paribas Financial Markets boosted its holdings in GitLab Inc. (NASDAQ:GTLB) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 63,232 shares of the company’s stock after purchasing an additional 355 shares during the period. BNP Paribas Financial Markets’ holdings in GitLab were worth $3,563,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. M&T Bank Corp lifted its stake in GitLab by 3.1% in the fourth quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock worth $280,000 after purchasing an additional 148 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in GitLab by 7.9% in the fourth quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock worth $116,000 after purchasing an additional 150 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of GitLab by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $228,000 after acquiring an additional 166 shares during the last quarter. Utah Retirement Systems raised its stake in shares of GitLab by 3.1% during the fourth quarter. Utah Retirement Systems now owns 6,600 shares of the company’s stock valued at $372,000 after acquiring an additional 200 shares during the last quarter. Finally, Mariner LLC raised its stake in shares of GitLab by 1.7% during the fourth quarter. Mariner LLC now owns 12,583 shares of the company’s stock valued at $709,000 after acquiring an additional 214 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Barclays lowered their price objective on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Wells Fargo & Company lowered their price objective on shares of GitLab from $85.00 to $65.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $71.73.

GitLab Stock Performance

Shares of GTLB opened at $53.43 on Thursday. The stock has a market cap of $8.67 billion, a PE ratio of -166.97 and a beta of 0.79. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The firm’s 50-day simple moving average is $47.20 and its two-hundred day simple moving average is $57.30.

Insiders Place Their Bets

In other GitLab news, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction dated Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director now owns 111,983 shares in the company, valued at approximately $5,039,235. This represents a 2.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sytse Sijbrandij sold 108,600 shares of the company’s stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 304,734 shares of company stock worth $14,879,081. 16.37% of the stock is currently owned by company insiders.

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.