Oddo BHF Asset Management Sas Acquires New Shares in GitLab Inc. (NASDAQ:GTLB)

Oddo BHF Asset Management Sas acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 133,188 shares of the company’s stock, valued at approximately $6,865,000. Oddo BHF Asset Management Sas owned approximately 0.08% of GitLab at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of Marin raised its holdings in shares of GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after acquiring an additional 171 shares in the last quarter. Moloney Securities Asset Management LLC raised its holdings in shares of GitLab by 4.9% in the second quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock valued at $318,000 after acquiring an additional 300 shares in the last quarter. Glenmede Trust Co. NA raised its holdings in shares of GitLab by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after acquiring an additional 334 shares in the last quarter. Canton Hathaway LLC raised its holdings in GitLab by 26.3% in the second quarter. Canton Hathaway LLC now owns 2,086 shares of the company’s stock worth $104,000 after purchasing an additional 435 shares in the last quarter. Finally, Blue Trust Inc. raised its holdings in GitLab by 18.2% in the third quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after purchasing an additional 488 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Up 0.8 %

Shares of NASDAQ GTLB opened at $61.52 on Friday. The business’s 50 day moving average price is $58.67 and its 200 day moving average price is $52.37. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53.

Analysts Set New Price Targets

GTLB has been the subject of a number of recent research reports. Robert W. Baird boosted their target price on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. BTIG Research boosted their target price on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC boosted their target price on shares of GitLab from $70.00 to $85.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a report on Tuesday, August 27th. Finally, DA Davidson boosted their target price on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $76.42.

Insiders Place Their Bets

In other GitLab news, CAO Erin Mannix sold 1,433 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the sale, the chief accounting officer now owns 72,448 shares in the company, valued at approximately $3,825,254.40. This represents a 1.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Sytse Sijbrandij sold 84,776 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $59.64, for a total value of $5,056,040.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 178,365 shares of company stock worth $10,350,684. Corporate insiders own 21.36% of the company’s stock.

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.