Insider Selling: GitLab Inc. (NASDAQ:GTLB) Insider Sells 2,996 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,996 shares of the business’s stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the completion of the transaction, the insider now owns 129,223 shares of the company’s stock, valued at $7,233,903.54. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Robin Schulman also recently made the following trade(s):

• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The shares were sold at an average price of $55.00, for a total value of $164,450.00.

GitLab Trading Up 0.3 %

GitLab stock traded up $0.18 during midday trading on Monday, hitting $60.01. The stock had a trading volume of 2,642,202 shares, compared to its average volume of 2,459,943. The business has a fifty day moving average price of $59.65 and a 200 day moving average price of $52.86. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The stock has a market cap of $9.74 billion, a P/E ratio of -187.53 and a beta of 0.54.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GTLB shares. DA Davidson increased their price objective on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Robert W. Baird lifted their price target on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. TD Cowen upped their price objective on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Royal Bank of Canada lifted their target price on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Finally, Macquarie started coverage on GitLab in a research note on Thursday, December 12th. They set an “outperform” rating and a $90.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $76.42.

Institutional Trading of GitLab

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. lifted its holdings in shares of GitLab by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after purchasing an additional 21,976 shares during the last quarter. State Street Corp boosted its holdings in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after acquiring an additional 111,997 shares during the period. Geode Capital Management LLC grew its position in shares of GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after acquiring an additional 132,548 shares during the last quarter. Fiera Capital Corp increased its holdings in shares of GitLab by 1.4% in the 3rd quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after acquiring an additional 16,961 shares during the period. Finally, Bamco Inc. NY lifted its position in GitLab by 0.4% in the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after purchasing an additional 4,874 shares during the last quarter. Institutional investors own 95.04% 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.