GitLab Inc. (NASDAQ:GTLB) Insider Sells $647,570.00 in Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) insider Robin Schulman sold 9,251 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total transaction of $647,570.00. Following the sale, the insider now directly owns 121,893 shares of the company’s stock, valued at $8,532,510. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Friday, January 17th, Robin Schulman sold 9,251 shares of GitLab stock. The shares were sold at an average price of $65.00, for a total transaction of $601,315.00.
  • On Thursday, January 2nd, Robin Schulman sold 7,330 shares of GitLab stock. The stock was sold at an average price of $56.98, for a total transaction of $417,663.40.
  • On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08.

GitLab Stock Down 1.4 %

Shares of GTLB stock opened at $69.38 on Friday. The stock has a 50-day simple moving average of $62.16 and a 200 day simple moving average of $55.59. The stock has a market capitalization of $11.26 billion, a P/E ratio of -216.81 and a beta of 0.57. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GTLB. DA Davidson upped their price objective on GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Barclays upped their price target on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research report on Monday, December 9th. Royal Bank of Canada lifted their price objective on shares of GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird increased 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. Finally, JPMorgan Chase & Co. boosted their price objective on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research 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 issued a strong buy rating to the stock. According to data from MarketBeat, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

Get Our Latest Analysis on GitLab

Institutional Investors Weigh In On GitLab

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Principal Securities Inc. grew its stake in shares of GitLab by 79.6% in the 4th quarter. Principal Securities Inc. now owns 5,373 shares of the company’s stock worth $303,000 after purchasing an additional 2,381 shares during the last quarter. Palumbo Wealth Management LLC boosted its holdings in GitLab by 26.9% during the fourth quarter. Palumbo Wealth Management LLC now owns 5,761 shares of the company’s stock worth $325,000 after buying an additional 1,222 shares in the last quarter. Rhumbline Advisers grew its position in GitLab by 5.5% in the fourth quarter. Rhumbline Advisers now owns 150,312 shares of the company’s stock worth $8,470,000 after buying an additional 7,837 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of GitLab by 60.9% in the fourth quarter. Blue Trust Inc. now owns 5,095 shares of the company’s stock valued at $287,000 after buying an additional 1,929 shares in the last quarter. Finally, Vontobel Holding Ltd. acquired a new stake in shares of GitLab during the 4th quarter valued at $549,000. 95.04% of the stock is owned by institutional investors and hedge funds.

About GitLab

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for GitLab (NASDAQ:GTLB)

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