GitLab Inc. (NASDAQ:GTLB) Insider Sells $4,655,682.00 in Stock

GitLab Inc. (NASDAQ:GTLB - Get Free Report) insider Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

GitLab Price Performance

GTLB traded down $2.47 during trading hours on Monday, reaching $40.43. The company's stock had a trading volume of 148,836 shares, compared to its average volume of 2,521,474. The business's 50-day moving average is $53.18 and its 200-day moving average is $58.18. The stock has a market cap of $6.56 billion, a PE ratio of -126.73 and a beta of 0.79. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. KeyCorp decreased their target price on shares of GitLab from $80.00 to $60.00 and set an "overweight" rating for the company in a research report on Thursday. Robert W. Baird lowered their target price on GitLab from $80.00 to $76.00 and set an "outperform" rating on the stock in a research note on Monday, March 3rd. JPMorgan Chase & Co. decreased their price target on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $80.00 target price on shares of GitLab in a report on Tuesday, March 4th. Finally, Needham & Company LLC reissued a "buy" rating and set a $85.00 price target on shares of GitLab in a report on Tuesday, March 4th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $72.64.

Hedge Funds Weigh In On GitLab

A number of hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC boosted its stake in GitLab by 5,700.0% during the fourth 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 period. CoreCap Advisors LLC grew its holdings in shares of GitLab by 327.5% in the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 452 shares in the last quarter. GAMMA Investing LLC lifted its holdings in GitLab by 114.2% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after buying an additional 490 shares in the last quarter. IMG Wealth Management Inc. purchased a new position in GitLab in the 4th quarter valued at approximately $46,000. Finally, Raleigh Capital Management Inc. purchased a new stake in shares of GitLab during the fourth quarter worth $66,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

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.