Shares of GitLab Inc. (NASDAQ:GTLB - Get Free Report) traded down 1.2% during mid-day trading on Wednesday . The stock traded as low as $69.65 and last traded at $70.68. 427,716 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 2,737,724 shares. The stock had previously closed at $71.54.
Analyst Ratings Changes
Several equities research analysts recently issued reports on the company. Truist Financial reiterated a "buy" rating and issued a $90.00 price target (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. The Goldman Sachs Group boosted their price target on GitLab from $80.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Piper Sandler boosted their price target on GitLab from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Macquarie reiterated an "outperform" rating and issued a $90.00 price target on shares of GitLab in a research note on Wednesday, January 15th. Finally, TD Cowen boosted their price objective on shares of GitLab from $63.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $76.62.
Read Our Latest Stock Report on GTLB
GitLab Stock Down 4.9 %
The company has a market cap of $10.41 billion, a P/E ratio of -200.38 and a beta of 0.63. The firm's 50 day moving average is $64.00 and its two-hundred day moving average is $57.61.
Insider Buying and Selling
In related news, insider Robin Schulman sold 2,996 shares of the business's stock in a transaction on Friday, December 20th. The shares were sold at an average price of $55.98, for a total value of $167,716.08. Following the sale, the insider now owns 129,223 shares of the company's stock, valued at $7,233,903.54. The trade was a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction on Monday, December 16th. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50. Following the completion of the sale, the director now directly owns 134,733 shares in the company, valued at approximately $7,947,899.67. This represents a 2.36 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 740,257 shares of company stock valued at $44,710,867 over the last 90 days. 21.36% of the stock is owned by insiders.
Institutional Trading of GitLab
Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its position in GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after acquiring an additional 513 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of GitLab by 327.5% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 452 shares in the last quarter. IMG Wealth Management Inc. bought a new position in shares of GitLab during the 4th quarter worth about $46,000. True Wealth Design LLC bought a new position in shares of GitLab during the 3rd quarter worth about $56,000. Finally, Raleigh Capital Management Inc. bought a new position in shares of GitLab during the 4th quarter worth about $66,000. Institutional investors own 95.04% of the company's stock.
About GitLab
(
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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.
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