GitLab Inc. (NASDAQ:GTLB) Insider Sytse Sijbrandij Sells 84,000 Shares

GitLab Inc. (NASDAQ:GTLB) insider Sytse Sijbrandij sold 84,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total transaction of $5,291,160.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Sytse Sijbrandij also recently made the following trade(s):

• On Monday, November 18th, Sytse Sijbrandij sold 84,776 shares of GitLab stock. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64.

GitLab Stock Up 2.0 %

GitLab stock traded up $1.27 during mid-day trading on Thursday, hitting $64.20. The company’s stock had a trading volume of 2,052,747 shares, compared to its average volume of 2,330,596. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The stock has a market capitalization of $10.42 billion, a P/E ratio of -200.63 and a beta of 0.57. The stock’s fifty day moving average price is $61.19 and its two-hundred day moving average price is $54.64.

Analysts Set New Price Targets

Several research firms recently commented on GTLB. Cantor Fitzgerald boosted their price objective on shares of GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Robert W. Baird increased their price target on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lifted their price objective on GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Truist Financial reissued a “buy” rating and set a $90.00 price target (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. Finally, Canaccord Genuity Group upped their price objective on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in GTLB. Y Intercept Hong Kong Ltd bought a new position in shares of GitLab in the third quarter valued at approximately $678,000. State Street Corp raised its holdings in GitLab by 5.8% in the 3rd 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 in the last quarter. Barclays PLC lifted its position in GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares during the period. Oddo BHF Asset Management Sas bought a new position in shares of GitLab during the 3rd quarter worth about $6,865,000. Finally, ARK Investment Management LLC acquired a new stake in GitLab during the third quarter valued at approximately $13,435,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

About GitLab

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.