Baader Bank Aktiengesellschaft Takes $963,000 Position in GitLab Inc. (NASDAQ:GTLB)

Baader Bank Aktiengesellschaft acquired a new stake in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 17,098 shares of the company’s stock, valued at approximately $963,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in GTLB. Mercer Global Advisors Inc. ADV acquired a new stake in shares of GitLab in the second quarter valued at approximately $206,000. Marshall Wace LLP acquired a new stake in shares of GitLab in the second quarter valued at approximately $613,000. The Manufacturers Life Insurance Company raised its holdings in shares of GitLab by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 27,960 shares of the company’s stock valued at $1,390,000 after purchasing an additional 2,783 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in shares of GitLab by 1,890.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 143,008 shares of the company’s stock valued at $7,110,000 after purchasing an additional 135,824 shares during the last quarter. Finally, Quarry LP raised its holdings in shares of GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after purchasing an additional 1,502 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Stock Performance

NASDAQ:GTLB opened at $70.33 on Thursday. The company has a market capitalization of $11.41 billion, a PE ratio of -219.78 and a beta of 0.57. The company has a 50 day simple moving average of $62.00 and a two-hundred day simple moving average of $55.49. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

Insider Buying and Selling at GitLab

In other GitLab news, insider Robin Schulman sold 9,251 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $65.00, for a total transaction of $601,315.00. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $7,923,045. This represents a 7.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sytse Sijbrandij sold 84,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total value of $5,291,160.00. The disclosure for this sale can be found here. In 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 company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GTLB. Piper Sandler boosted their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Barclays boosted their target price on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Truist Financial reiterated a “buy” rating and issued a $90.00 price objective (up from $80.00) on shares of GitLab in a report on Friday, December 6th. Wells Fargo & Company upped 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. Finally, Robert W. Baird upped their price objective on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.