XTX Topco Ltd Invests $531,000 in GitLab Inc. (NASDAQ:GTLB)

XTX Topco Ltd bought a new position in GitLab Inc. (NASDAQ:GTLB) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,311 shares of the company’s stock, valued at approximately $531,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Future Financial Wealth Managment LLC acquired a new position in shares of GitLab in the 3rd quarter valued at $52,000. True Wealth Design LLC purchased a new position in shares of GitLab in the 3rd quarter worth $56,000. Rakuten Securities Inc. boosted its holdings in GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after acquiring an additional 1,032 shares during the last quarter. Quarry LP grew its position in GitLab by 527.0% during the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after acquiring an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP acquired a new stake in GitLab during the third quarter worth about $96,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

GitLab Stock Performance

Shares of GitLab stock opened at $58.60 on Friday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The firm’s 50-day simple moving average is $58.91 and its 200-day simple moving average is $52.43. The firm has a market cap of $9.41 billion, a PE ratio of -183.13 and a beta of 0.54.

Insider Activity at GitLab

In other GitLab news, CAO Erin Mannix sold 1,433 shares of GitLab stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total value of $75,662.40. Following the completion of the transaction, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The trade was a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Sytse Sijbrandij sold 56,000 shares of the stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $54.68, for a total transaction of $3,062,080.00. The disclosure for this sale can be found here. Insiders sold a total of 178,365 shares of company stock valued at $10,350,684 over the last three months. 21.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several research analyst reports. DA Davidson lifted their price objective on GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC lifted their price target on shares of GitLab from $70.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, December 6th. BTIG Research boosted their price objective on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Mizuho raised their target price on shares of GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a research note on Monday, December 9th. Finally, Barclays upped their price target on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Three research 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 stock. Based on data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price 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.