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

GitLab Inc. (NASDAQ:GTLB - Get Free Report) insider Robin Schulman sold 9,251 shares of the firm's stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $70.00, for a total value of $647,570.00. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at $8,532,510. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, January 17th, Robin Schulman sold 9,251 shares of GitLab stock. The shares were sold at an average price of $65.00, for a total value of $601,315.00.
• On Thursday, January 2nd, Robin Schulman sold 7,330 shares of GitLab stock. The shares were sold at an average price of $56.98, for a total value of $417,663.40.
• On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08.

GitLab Stock Performance

Shares of GitLab stock traded up $3.38 during midday trading on Friday, reaching $72.76. 5,257,028 shares of the company's stock traded hands, compared to its average volume of 2,624,128. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The company's 50 day simple moving average is $62.38 and its 200 day simple moving average is $55.90. The company has a market cap of $11.81 billion, a price-to-earnings ratio of -227.38 and a beta of 0.57.

Wall Street Analyst Weigh In

A number of research firms recently commented on GTLB. Piper Sandler boosted their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. Wells Fargo & Company increased their price objective on GitLab from $75.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Cantor Fitzgerald lifted their target price on GitLab from $75.00 to $80.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. DA Davidson increased their price target on GitLab from $50.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Finally, Canaccord Genuity Group boosted their price objective on GitLab from $65.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, GitLab presently has a consensus rating of "Moderate Buy" and a consensus target price of $76.42.

Institutional Trading of GitLab

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