22,150 Shares in GitLab Inc. (NASDAQ:GTLB) Purchased by Virtu Financial LLC

Virtu Financial LLC purchased a new position in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 22,150 shares of the company’s stock, valued at approximately $1,248,000.

A number of other large investors also recently bought and sold shares of GTLB. OneDigital Investment Advisors LLC acquired a new position in GitLab in the 3rd quarter worth about $200,000. Charles Schwab Investment Management Inc. raised its holdings in GitLab by 8.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock worth $38,728,000 after purchasing an additional 57,381 shares during the period. Cerity Partners LLC raised its holdings in GitLab by 772.3% in the 3rd quarter. Cerity Partners LLC now owns 56,307 shares of the company’s stock worth $2,902,000 after purchasing an additional 49,852 shares during the period. Whetstone Capital Advisors LLC raised its holdings in GitLab by 60.8% in the 3rd quarter. Whetstone Capital Advisors LLC now owns 110,544 shares of the company’s stock worth $5,697,000 after purchasing an additional 41,804 shares during the period. Finally, Bank of Montreal Can increased its stake in GitLab by 360.4% during the 3rd quarter. Bank of Montreal Can now owns 59,200 shares of the company’s stock worth $3,058,000 after buying an additional 46,343 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

GTLB opened at $50.95 on Monday. GitLab Inc. has a one year low of $40.72 and a one year high of $74.18. The stock has a market capitalization of $8.27 billion, a PE ratio of -159.22 and a beta of 0.67. The business’s 50 day moving average price is $62.77 and its 200 day moving average price is $59.34.

Insider Activity at GitLab

In other GitLab news, insider Robin Schulman sold 7,330 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $56.98, for a total transaction of $417,663.40. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at $6,945,463.14. This represents a 5.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the transaction, the chief financial officer now owns 267,380 shares in the company, valued at $18,938,525.40. This trade represents a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 764,011 shares of company stock worth $45,750,733. Insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

GTLB has been the subject of several research reports. Scotiabank boosted their price objective on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, December 4th. Wells Fargo & Company boosted their price objective on GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a research note on Thursday, February 20th. Canaccord Genuity Group boosted their price objective on GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. KeyCorp boosted their price objective on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Truist Financial reiterated a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.52.

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.