Quadrature Capital Ltd Invests $905,000 in GitLab Inc. (NASDAQ:GTLB)

Quadrature Capital Ltd bought a new stake in GitLab Inc. (NASDAQ:GTLB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,371 shares of the company’s stock, valued at approximately $905,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of GitLab by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock valued at $591,096,000 after acquiring an additional 1,070,994 shares during the last quarter. Invesco Ltd. boosted its holdings in GitLab by 71.3% in the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after purchasing an additional 1,762,944 shares during the last quarter. Norges Bank acquired a new stake in GitLab during the 4th quarter worth about $222,591,000. 1832 Asset Management L.P. purchased a new position in shares of GitLab during the 4th quarter valued at about $76,918,000. Finally, Fiera Capital Corp lifted its holdings in shares of GitLab by 0.5% in the 4th quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock valued at $75,540,000 after buying an additional 5,446 shares during the period. Institutional investors and hedge funds own 91.72% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the subject of several recent research reports. UBS Group reduced their price target on GitLab from $81.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Royal Bank of Canada lowered their price target on shares of GitLab from $80.00 to $74.00 and set an “outperform” rating on the stock in a report on Monday, June 3rd. DA Davidson dropped their price target on shares of GitLab from $65.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Needham & Company LLC reiterated a “hold” rating on shares of GitLab in a research report on Tuesday, June 4th. Finally, Sanford C. Bernstein raised their target price on GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a research report on Tuesday, March 5th. Four research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.70.

Insider Activity

In other GitLab news, Director Sundeep Bedi sold 9,000 shares of GitLab stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $58.64, for a total transaction of $527,760.00. Following the transaction, the director now directly owns 8,369 shares of the company’s stock, valued at $490,758.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other GitLab news, Director Sundeep Bedi sold 9,000 shares of GitLab stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $58.64, for a total value of $527,760.00. Following the sale, the director now owns 8,369 shares in the company, valued at $490,758.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian G. Robins sold 11,667 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.56, for a total value of $508,214.52. Following the completion of the transaction, the chief financial officer now directly owns 305,175 shares in the company, valued at approximately $13,293,423. The disclosure for this sale can be found here. In the last quarter, insiders have sold 148,334 shares of company stock valued at $8,006,676. 21.36% of the stock is currently owned by insiders.

GitLab Stock Down 0.3 %

Shares of NASDAQ:GTLB opened at $42.90 on Friday. GitLab Inc. has a 52-week low of $40.19 and a 52-week high of $78.53. The stock has a market cap of $6.82 billion, a P/E ratio of -15.60 and a beta of 0.44. The business has a fifty day moving average of $51.56 and a two-hundred day moving average of $59.62.

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.