Union Bancaire Privee UBP SA Purchases New Shares in GitLab Inc. (NASDAQ:GTLB)

Union Bancaire Privee UBP SA acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 66,306 shares of the company’s stock, valued at approximately $3,612,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Future Financial Wealth Managment LLC acquired a new stake in shares of GitLab in the third quarter valued at approximately $52,000. True Wealth Design LLC acquired a new position in GitLab during the 3rd quarter valued at about $56,000. Raleigh Capital Management Inc. bought a new position in shares of GitLab in the 4th quarter valued at about $66,000. Rakuten Securities Inc. boosted its stake in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Quarry LP grew its position in shares of GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after buying an additional 1,502 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 547,679 shares of the firm’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $59.72, for a total transaction of $32,707,389.88. Following the transaction, the director now owns 58,471 shares in the company, valued at $3,491,888.12. This trade represents a 90.35 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Robin Schulman sold 9,251 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $65.00, for a total value of $601,315.00. Following the sale, the insider now owns 121,893 shares of the company’s stock, valued at approximately $7,923,045. The trade was a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 825,698 shares of company stock valued at $49,549,749. 21.36% of the stock is currently owned by corporate insiders.

GitLab Trading Up 1.3 %

Shares of GitLab stock opened at $64.79 on Monday. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53. The business’s 50 day moving average is $61.66 and its 200-day moving average is $55.22.

Analysts Set New Price Targets

Several equities analysts recently weighed in on GTLB shares. Wells Fargo & Company increased their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Piper Sandler increased their price target on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial restated a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of GitLab in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $85.00 target price on shares of GitLab in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $76.42.

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.