GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 9,251 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 9,251 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $65.00, for a total value of $601,315.00. Following the completion of the transaction, the insider now directly owns 121,893 shares of the company’s stock, valued at approximately $7,923,045. The trade was a 7.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• 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 shares were sold at an average price of $55.98, for a total transaction of $167,716.08.

GitLab Trading Up 0.4 %

GitLab stock opened at $63.94 on Friday. The firm has a market cap of $10.38 billion, a PE ratio of -199.81 and a beta of 0.57. The stock’s 50 day simple moving average is $61.51 and its two-hundred day simple moving average is $55.04. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53.

Analyst Upgrades and Downgrades

GTLB has been the subject of a number of analyst reports. Robert W. Baird increased their target price 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. Mizuho increased their price objective on GitLab from $67.00 to $80.00 and gave the company an “outperform” rating in a report on Monday, December 9th. Wells Fargo & Company upped their target price on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price target on GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Finally, TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

Institutional Trading of GitLab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in GTLB. Franklin Resources Inc. boosted its stake in shares of GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after acquiring an additional 21,976 shares in the last quarter. 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 worth $104,740,000 after purchasing an additional 111,997 shares during the period. Geode Capital Management LLC boosted its position in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after purchasing an additional 132,548 shares in the last quarter. Fiera Capital Corp grew its holdings in GitLab by 1.4% in the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after purchasing an additional 16,961 shares during the period. Finally, Bamco Inc. NY increased its position in shares of GitLab by 0.4% in the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after buying an additional 4,874 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.