Hudson Bay Capital Management LP Purchases 3,314 Shares of GitLab Inc. (NASDAQ:GTLB)

Hudson Bay Capital Management LP increased its position in shares of GitLab Inc. (NASDAQ:GTLB) by 8.7% during the 4th quarter, HoldingsChannel.com reports. The fund owned 41,548 shares of the company’s stock after purchasing an additional 3,314 shares during the period. Hudson Bay Capital Management LP’s holdings in GitLab were worth $2,341,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of GitLab by 7.2% during the 4th quarter. Vanguard Group Inc. now owns 13,142,592 shares of the company’s stock worth $740,585,000 after acquiring an additional 885,955 shares in the last quarter. Norges Bank acquired a new stake in shares of GitLab during the 4th quarter worth approximately $279,089,000. Artisan Partners Limited Partnership boosted its position in shares of GitLab by 55.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 4,034,041 shares of the company’s stock worth $227,318,000 after acquiring an additional 1,443,160 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of GitLab by 17.6% during the 4th quarter. Franklin Resources Inc. now owns 3,140,264 shares of the company’s stock worth $176,954,000 after acquiring an additional 470,192 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company’s stock worth $121,435,000 after acquiring an additional 1,583,221 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In other GitLab news, Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total value of $8,001,948.56. Following the completion of the sale, the director now directly owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. The trade was a 23.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $42.87, for a total transaction of $4,655,682.00. The disclosure for this sale can be found here. Insiders sold 304,734 shares of company stock valued at $14,879,081 over the last quarter. Insiders own 16.37% of the company’s stock.

GitLab Stock Up 2.5%

Shares of NASDAQ GTLB opened at $53.36 on Wednesday. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The firm has a fifty day simple moving average of $47.25 and a 200 day simple moving average of $57.33. The company has a market capitalization of $8.66 billion, a PE ratio of -166.75 and a beta of 0.79.

Analyst Ratings Changes

Several research firms recently issued reports on GTLB. Morgan Stanley reduced their price target on shares of GitLab from $77.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Mizuho cut their target price on shares of GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. KeyCorp cut their target price on shares of GitLab from $80.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Macquarie restated an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $80.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $71.73.

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.