ExodusPoint Capital Management LP Has $5.84 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

ExodusPoint Capital Management LP boosted its stake in GitLab Inc. (NASDAQ:GTLB) by 101.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 103,559 shares of the company’s stock after buying an additional 52,215 shares during the quarter. ExodusPoint Capital Management LP owned approximately 0.06% of GitLab worth $5,836,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of GitLab during the fourth quarter worth approximately $279,089,000. Artisan Partners Limited Partnership increased its holdings in GitLab by 55.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock valued at $227,318,000 after purchasing an additional 1,443,160 shares in the last quarter. Alliancebernstein L.P. raised its position in GitLab by 4,042.0% in the 4th quarter. Alliancebernstein L.P. now owns 1,455,385 shares of the company’s stock valued at $82,011,000 after purchasing an additional 1,420,248 shares during the last quarter. ARK Investment Management LLC boosted its stake in GitLab by 345.2% in the fourth quarter. ARK Investment Management LLC now owns 1,160,502 shares of the company’s stock worth $65,394,000 after purchasing an additional 899,823 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of GitLab by 7.2% during the fourth quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock worth $740,585,000 after purchasing an additional 885,955 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GTLB. Needham & Company LLC reiterated a “buy” rating and set a $85.00 price target on shares of GitLab in a research report on Tuesday, March 4th. Barclays dropped their target price on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research note on Tuesday, March 4th. Mizuho decreased their price target on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 4th. Robert W. Baird dropped their price objective on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $80.00 price objective on shares of GitLab in a report on Tuesday, March 4th. Three 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 company. According to MarketBeat, GitLab has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total transaction of $708,300.00. Following the completion of the transaction, the chief financial officer now directly owns 267,380 shares of the company’s stock, valued at $18,938,525.40. This represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Blasing sold 6,500 shares of GitLab stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total value of $410,735.00. Following the completion of the sale, the director now directly owns 128,233 shares in the company, valued at approximately $8,103,043.27. This represents a 4.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 311,886 shares of company stock valued at $17,736,229 over the last quarter. Corporate insiders own 21.36% of the company’s stock.

GitLab Stock Performance

NASDAQ GTLB opened at $41.09 on Friday. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The business has a 50 day simple moving average of $59.82 and a 200 day simple moving average of $58.89. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -128.41 and a beta of 0.79.

GitLab 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.