4,477 Shares in GitLab Inc. (NASDAQ:GTLB) Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 4,477 shares of the company’s stock, valued at approximately $249,000.

A number of other large investors also recently modified their holdings of the business. EverSource Wealth Advisors LLC increased its position in shares of GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 513 shares during the period. IMG Wealth Management Inc. bought a new stake in shares of GitLab during the fourth quarter valued at approximately $46,000. True Wealth Design LLC bought a new stake in shares of GitLab during the third quarter valued at approximately $56,000. Raleigh Capital Management Inc. bought a new stake in shares of GitLab during the fourth quarter valued at approximately $66,000. Finally, Smartleaf Asset Management LLC increased its position in shares of GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after purchasing an additional 1,153 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other GitLab news, CFO Brian G. Robins sold 10,000 shares of the stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.24, for a total value of $562,400.00. Following the transaction, the chief financial officer now owns 267,380 shares of the company’s stock, valued at approximately $15,037,451.20. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Susan L. Bostrom sold 20,000 shares of the stock in a transaction dated Tuesday, December 24th. The shares were sold at an average price of $60.19, for a total value of $1,203,800.00. Following the completion of the transaction, the director now directly owns 204,913 shares in the company, valued at $12,333,713.47. The trade was a 8.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 764,011 shares of company stock valued at $45,750,733 over the last 90 days. 21.36% of the stock is owned by company insiders.

GitLab Stock Down 0.4 %

Shares of GTLB opened at $50.95 on Friday. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18. The firm has a market capitalization of $8.27 billion, a PE ratio of -159.22 and a beta of 0.67. The stock’s fifty day simple moving average is $62.77 and its 200-day simple moving average is $59.20.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GTLB shares. Macquarie restated an “outperform” rating and set a $90.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Canaccord Genuity Group boosted their price objective on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler upped their price target on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Robert W. Baird lowered their price target on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $75.38.

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.