GitLab Inc. (NASDAQ:GTLB - Get Free Report) shares gapped up before the market opened on Friday . The stock had previously closed at $69.38, but opened at $71.81. GitLab shares last traded at $72.27, with a volume of 447,888 shares.
Analysts Set New Price Targets
Several research firms recently weighed in on GTLB. Cantor Fitzgerald upped their price objective on shares of GitLab from $75.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. Piper Sandler upped their target price on GitLab from $75.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, December 6th. JPMorgan Chase & Co. lifted their price target on GitLab from $60.00 to $65.00 and gave the company a "neutral" rating in a research note on Friday, December 6th. Macquarie reissued an "outperform" rating and set a $90.00 target price on shares of GitLab in a report on Wednesday, January 15th. Finally, Needham & Company LLC reissued a "buy" rating and set a $85.00 target price on shares of GitLab in a report on Tuesday, January 7th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $76.42.
Check Out Our Latest Report on GitLab
GitLab Price Performance
The stock has a market cap of $11.48 billion, a PE ratio of -221.00 and a beta of 0.63. The firm's 50 day moving average price is $62.38 and its two-hundred day moving average price is $55.90.
Insider Buying and Selling at GitLab
In related news, insider Robin Schulman sold 9,251 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total value of $647,570.00. Following the sale, the insider now owns 121,893 shares in the company, valued at approximately $8,532,510. This trade represents a 7.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $59.41, for a total value of $193,082.50. Following the transaction, the director now owns 137,983 shares of the company's stock, valued at approximately $8,197,570.03. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 818,283 shares of company stock valued at $49,251,690 in the last 90 days. 21.36% of the stock is currently owned by company insiders.
Institutional Trading of GitLab
A number of large investors have recently modified their holdings of GTLB. Handelsbanken Fonder AB increased its holdings in shares of GitLab by 9.9% in the 4th quarter. Handelsbanken Fonder AB now owns 31,000 shares of the company's stock worth $1,747,000 after buying an additional 2,800 shares during the last quarter. Ieq Capital LLC grew its position in GitLab by 201.6% in the fourth quarter. Ieq Capital LLC now owns 132,250 shares of the company's stock worth $7,452,000 after acquiring an additional 88,394 shares in the last quarter. New York State Common Retirement Fund increased its stake in GitLab by 10.7% in the fourth quarter. New York State Common Retirement Fund now owns 557,923 shares of the company's stock valued at $31,439,000 after acquiring an additional 53,849 shares during the last quarter. D.A. Davidson & CO. raised its holdings in shares of GitLab by 14.3% during the 4th quarter. D.A. Davidson & CO. now owns 9,898 shares of the company's stock valued at $558,000 after buying an additional 1,238 shares in the last quarter. Finally, Truist Financial Corp lifted its position in GitLab by 32.4% in the 4th quarter. Truist Financial Corp now owns 22,078 shares of the company's stock worth $1,244,000 after buying an additional 5,406 shares during the last quarter. Institutional investors own 95.04% of the company's stock.
About GitLab
(
Get Free Report)
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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