Erin Mannix Sells 1,433 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) CAO Erin Mannix sold 1,433 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $52.80, for a total transaction of $75,662.40. Following the completion of the sale, the chief accounting officer now owns 72,448 shares of the company’s stock, valued at $3,825,254.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Erin Mannix also recently made the following trade(s):

• On Monday, July 1st, Erin Mannix sold 444 shares of GitLab stock. The shares were sold at an average price of $48.61, for a total value of $21,582.84.
• On Thursday, June 27th, Erin Mannix sold 494 shares of GitLab stock. The stock was sold at an average price of $50.00, for a total value of $24,700.00.

GitLab Trading Down 0.2 %

Shares of GitLab stock opened at $53.09 on Wednesday. The company has a 50 day moving average of $49.49 and a 200-day moving average of $51.56. The company has a market cap of $8.44 billion, a PE ratio of -19.31 and a beta of 0.44. GitLab Inc. has a 1-year low of $40.19 and a 1-year high of $78.53.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The firm had revenue of $182.58 million for the quarter, compared to the consensus estimate of $176.86 million. During the same quarter last year, the business posted ($0.29) EPS. The company’s revenue was up 30.8% compared to the same quarter last year. Research analysts forecast that GitLab Inc. will post -0.41 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its holdings in shares of GitLab by 78.5% in the first quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock worth $410,597,000 after acquiring an additional 3,096,437 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in GitLab in the fourth quarter valued at approximately $76,918,000. Vanguard Group Inc. grew its stake in shares of GitLab by 12.9% during the fourth quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock worth $591,096,000 after buying an additional 1,070,994 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of GitLab during the first quarter worth $49,196,000. Finally, DNB Asset Management AS acquired a new position in shares of GitLab during the second quarter worth $37,851,000. Institutional investors own 91.72% of the company’s stock.

Analysts Set New Price Targets

GTLB has been the subject of several research reports. Citic Securities initiated coverage on GitLab in a report on Monday, June 3rd. They set a “buy” rating and a $80.00 price target for the company. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. Scotiabank upped their price target on shares of GitLab from $59.00 to $65.00 and gave the company a “sector outperform” rating in a research note on Wednesday, September 4th. Barclays increased their price target on shares of GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, Royal Bank of Canada upped their target price on GitLab from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and an average price target of $66.05.

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.