Karen Blasing Sells 3,250 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $58.99, for a total value of $191,717.50. Following the completion of the transaction, the director now directly owns 134,733 shares in the company, valued at $7,947,899.67. This represents a 2.36 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Karen Blasing also recently made the following trade(s):

• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $59.41, for a total transaction of $193,082.50.
• On Tuesday, October 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $54.72, for a total transaction of $177,840.00.

GitLab Trading Up 0.1 %

GTLB stock traded up $0.07 during mid-day trading on Tuesday, hitting $59.14. The stock had a trading volume of 3,607,827 shares, compared to its average volume of 2,440,763. The firm has a fifty day simple moving average of $59.27 and a 200 day simple moving average of $52.52. The firm has a market capitalization of $9.60 billion, a P/E ratio of -184.59 and a beta of 0.54. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53.

Hedge Funds Weigh In On GitLab

A number of institutional investors have recently added to or reduced their stakes in GTLB. State Street Corp boosted its stake in shares of GitLab by 5.8% during the third quarter. State Street Corp now owns 2,032,206 shares of the company's stock valued at $104,740,000 after purchasing an additional 111,997 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of GitLab in the third quarter valued at approximately $6,865,000. ARK Investment Management LLC bought a new position in GitLab in the 3rd quarter valued at approximately $13,435,000. Mission Creek Capital Partners Inc. boosted its position in GitLab by 113.9% during the 3rd quarter. Mission Creek Capital Partners Inc. now owns 79,917 shares of the company's stock worth $4,119,000 after buying an additional 42,550 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. grew its holdings in GitLab by 111.1% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 336,317 shares of the company's stock worth $17,334,000 after acquiring an additional 176,967 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wells Fargo & Company lifted their price target on GitLab from $75.00 to $80.00 and gave the company an "overweight" rating in a report on Friday, December 6th. Royal Bank of Canada lifted their target price on GitLab from $73.00 to $80.00 and gave the company an "outperform" rating in a research note on Friday, December 6th. Morgan Stanley increased their price target on shares of GitLab from $70.00 to $77.00 and gave the stock an "overweight" rating in a research report on Friday, December 6th. KeyCorp boosted their price objective on shares of GitLab from $74.00 to $80.00 and gave the company an "overweight" rating in a research report on Friday, December 6th. Finally, Truist Financial reiterated a "buy" rating and issued a $90.00 target price (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $76.42.

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.

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