GitLab Inc. (NASDAQ:GTLB) CEO Sells $5,056,040.64 in Stock

GitLab Inc. (NASDAQ:GTLB) CEO Sytse Sijbrandij sold 84,776 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $59.64, for a total transaction of $5,056,040.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, October 15th, Sytse Sijbrandij sold 56,000 shares of GitLab stock. The shares were sold at an average price of $54.68, for a total value of $3,062,080.00.

GitLab Stock Up 2.0 %

NASDAQ:GTLB traded up $1.24 during trading hours on Wednesday, hitting $62.15. 1,845,711 shares of the stock traded hands, compared to its average volume of 2,328,838. The company has a market cap of $9.98 billion, a price-to-earnings ratio of -26.03 and a beta of 0.45. The stock has a 50 day moving average price of $54.73 and a 200 day moving average price of $51.32. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, topping 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 company had revenue of $182.58 million for the quarter, compared to the consensus estimate of $176.86 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. Equities analysts forecast that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of GTLB. Comerica Bank boosted its stake in shares of GitLab by 2,076.2% during the first quarter. Comerica Bank now owns 66,373 shares of the company’s stock valued at $3,871,000 after purchasing an additional 63,323 shares during the period. ARK Investment Management LLC acquired a new position in shares of GitLab in the 3rd quarter valued at $13,435,000. Tidal Investments LLC acquired a new stake in GitLab during the 1st quarter worth about $922,000. William Blair Investment Management LLC purchased a new position in GitLab during the second quarter worth approximately $16,071,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in GitLab by 188.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 194,417 shares of the company’s stock worth $11,339,000 after buying an additional 126,917 shares during the last quarter. Institutional investors own 91.72% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Bank of America upped their target price on GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Barclays lifted their target price on shares of GitLab from $50.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 5th. Baird R W raised GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. TD Cowen raised their price target on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, September 4th. Finally, BTIG Research lifted their price target on shares of GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.38.

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.