Karen Blasing Sells 3,250 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $58.99, for a total transaction of $191,717.50. Following the sale, the director now owns 134,733 shares of the company’s stock, valued at $7,947,899.67. The trade was a 2.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Karen Blasing also recently made the following trade(s):

• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $59.41, for a total value of $193,082.50.
• On Tuesday, October 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $54.72, for a total value of $177,840.00.

GitLab Stock Down 3.2 %

GTLB stock opened at $57.24 on Thursday. The company has a market cap of $9.29 billion, a price-to-earnings ratio of -178.88 and a beta of 0.54. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The business has a 50 day moving average price of $59.52 and a two-hundred day moving average price of $52.64.

Hedge Funds Weigh In On GitLab

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp raised its position in GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after acquiring an additional 111,997 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of GitLab during the 3rd quarter worth about $6,865,000. ARK Investment Management LLC acquired a new position in shares of GitLab during the 3rd quarter worth about $13,435,000. Mission Creek Capital Partners Inc. raised its holdings in shares of GitLab by 113.9% in the 3rd quarter. Mission Creek Capital Partners Inc. now owns 79,917 shares of the company’s stock valued at $4,119,000 after purchasing an additional 42,550 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in GitLab by 111.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,317 shares of the company’s stock valued at $17,334,000 after purchasing an additional 176,967 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Macquarie started coverage on GitLab in a research note on Thursday, December 12th. They issued an “outperform” rating and a $90.00 price target for the company. Morgan Stanley increased their target price on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, December 6th. UBS Group raised their price objective on GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird increased their price target on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and an average target price of $76.42.

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.