Boothbay Fund Management LLC Acquires New Position in GitLab Inc.

Gitlab Stock

GitLab Inc. (GTLB:NSD) recently received a new stake from Boothbay Fund Management LLC, according to the latest Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,944 shares of the Gitlab stock, valued at approximately $612,000, in the third quarter.

Other large investors that have bought and sold shares of Gitlab stock include Raymond James & Associates, Bank of New York Mellon Corp, BlackRock Inc., Blair William & Co. IL, and Sei Investments Co.

48.99% of the GTLB stock is currently owned by institutional investors and hedge funds.

 

Gitlab Stock-Analyst Ratings:

Several equities analysts have recently weighed in on GTLB shares. KeyCorp lowered their target price on GitLab stock from $63.00 to $60.00 and set an “overweight” rating on the stock.

According to data from Stock Target Advisor, GTLB stock currently has a consensus rating of “Strong Buy” and an average price target of $63.00.

 

Insider Transactions:

In related news, major shareholder Divesh Makan sold 53,676 shares of the Gitlab stock in a transaction on Tuesday, December 27th. The stock was sold at an average price of $44.65, for a total transaction of $2,396,633.40.

Insiders have sold a total of 70,914 shares of company stock valued at $3,187,540 in the last 90 days.

 

Gitlab Stock Price Analysis:

The stock opened at $43.68 on Tuesday and has a 52-week low of $30.74 and a 52-week high of $70.96. The company had revenue of $113.00 million for the quarter, compared to the consensus estimate of $106.08 million.

 

Company Profile:

GitLab Inc., through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.

It helps organizations to plan, build, secure, and deploy software to drive business outcomes. The company also provides related training and professional services. The company was formerly known as GitLab B.V. and changed its name to GitLab Inc. in July 2015. The company was founded in 2011 and is headquartered in San Francisco, California.

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