GitLab Inc. (NASDAQ:GTLB) Director Matthew Jacobson Sells 152,884 Shares

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Matthew Jacobson sold 152,884 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares in the company, valued at $25,832,616.36. The trade was a 23.65 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Matthew Jacobson also recently made the following trade(s):

• On Thursday, December 26th, Matthew Jacobson sold 547,679 shares of GitLab stock. The stock was sold at an average price of $59.72, for a total transaction of $32,707,389.88.

GitLab Price Performance

GTLB traded down $1.80 on Friday, reaching $48.38. 1,851,502 shares of the stock were exchanged, compared to its average volume of 2,426,612. The company's 50-day moving average price is $61.70 and its 200 day moving average price is $59.21. The firm has a market capitalization of $7.85 billion, a PE ratio of -151.19 and a beta of 0.67. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $74.18.

Analysts Set New Price Targets

Several research firms have recently commented on GTLB. Canaccord Genuity Group boosted their price target on shares of GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a report on Friday, December 6th. The Goldman Sachs Group boosted their price objective on shares of GitLab from $80.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, December 6th. JPMorgan Chase & Co. dropped their target price on GitLab from $65.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. DA Davidson reduced their price target on GitLab from $70.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, February 28th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $75.52.

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Institutional Investors Weigh In On GitLab

A number of large investors have recently bought and sold shares of GTLB. EverSource Wealth Advisors LLC raised its position in GitLab by 5,700.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock worth $29,000 after buying an additional 513 shares during the last quarter. CoreCap Advisors LLC raised its holdings in shares of GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 452 shares during the last quarter. IMG Wealth Management Inc. acquired a new position in GitLab during the fourth quarter valued at $46,000. True Wealth Design LLC acquired a new position in GitLab during the third quarter valued at $56,000. Finally, Raleigh Capital Management Inc. purchased a new stake in GitLab in the fourth quarter valued at $66,000. Hedge funds and other institutional investors 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.