GitLab Inc. (NASDAQ:GTLB) Shares Sold by Future Fund LLC

Future Fund LLC lowered its stake in GitLab Inc. (NASDAQ:GTLB) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,682 shares of the company’s stock after selling 7,000 shares during the period. GitLab comprises 2.4% of Future Fund LLC’s investment portfolio, making the stock its 21st biggest position. Future Fund LLC’s holdings in GitLab were worth $827,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in GTLB. Y Intercept Hong Kong Ltd acquired a new stake in GitLab in the third quarter valued at approximately $678,000. State Street Corp raised its holdings in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after purchasing an additional 111,997 shares in the last quarter. Barclays PLC lifted its position in shares of GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of GitLab during the third quarter worth $6,865,000. Finally, Barton Investment Management grew its stake in shares of GitLab by 99.4% during the fourth quarter. Barton Investment Management now owns 335,648 shares of the company’s stock worth $18,914,000 after purchasing an additional 167,290 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of GitLab stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total value of $562,400.00. Following the sale, the chief financial officer now owns 267,380 shares of the company’s stock, valued at $15,037,451.20. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50. Following the transaction, the director now owns 134,733 shares in the company, valued at approximately $7,947,899.67. This trade represents a 2.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 730,257 shares of company stock valued at $44,034,967. 21.36% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. The Goldman Sachs Group lifted their price target on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, December 6th. DA Davidson decreased their target price on GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, February 28th. TD Cowen upped their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. JPMorgan Chase & Co. cut their price objective on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Finally, Morgan Stanley upped their target price on shares of GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $75.38.

GitLab Trading Down 3.2 %

NASDAQ:GTLB opened at $56.38 on Monday. The stock’s 50 day simple moving average is $64.31 and its 200-day simple moving average is $59.07. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18. The firm has a market cap of $9.15 billion, a P/E ratio of -176.19 and a beta of 0.67.

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.