GitLab Inc. (NASDAQ:GTLB) Director Sells $410,735.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 6,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total transaction of $410,735.00. Following the completion of the sale, the director now owns 128,233 shares in the company, valued at approximately $8,103,043.27. This trade represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50.
• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $59.41, for a total transaction of $193,082.50.

GitLab Price Performance

NASDAQ:GTLB traded up $1.27 during trading hours on Thursday, reaching $64.20. The company’s stock had a trading volume of 2,052,747 shares, compared to its average volume of 2,330,596. The company has a market cap of $10.42 billion, a price-to-earnings ratio of -200.63 and a beta of 0.57. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53. The business’s 50-day moving average is $61.19 and its 200-day moving average is $54.64.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GTLB. Y Intercept Hong Kong Ltd acquired a new position in GitLab during the third quarter valued at approximately $678,000. State Street Corp boosted its holdings in shares of GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares during the period. Barclays PLC grew its stake in GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after buying an additional 40,171 shares during the last quarter. Oddo BHF Asset Management Sas bought a new position in GitLab in the 3rd quarter worth $6,865,000. Finally, ARK Investment Management LLC acquired a new position in GitLab during the 3rd quarter worth $13,435,000. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on GTLB shares. Robert W. Baird upped their price target on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. KeyCorp upped their target price on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. The Goldman Sachs Group lifted their price target on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Cantor Fitzgerald upped their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada lifted their target price on shares of GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, GitLab has an average rating of “Moderate Buy” and a consensus 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.