GitLab Inc. (NASDAQ:GTLB) Insider Sells $417,663.40 in Stock

GitLab Inc. (NASDAQ:GTLB - Get Free Report) insider Robin Schulman sold 7,330 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.98, for a total value of $417,663.40. Following the transaction, the insider now directly owns 121,893 shares in the company, valued at approximately $6,945,463.14. This represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• 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.
• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00.

GitLab Stock Up 6.0 %

NASDAQ:GTLB traded up $3.40 on Friday, hitting $59.76. The stock had a trading volume of 2,874,946 shares, compared to its average volume of 2,228,523. The company has a fifty day moving average price of $60.38 and a two-hundred day moving average price of $53.71. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -186.75 and a beta of 0.54. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GTLB. Canaccord Genuity Group lifted their target price on GitLab from $65.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Mizuho lifted their price objective on shares of GitLab from $67.00 to $80.00 and gave the stock an "outperform" rating in a research report on Monday, December 9th. DA Davidson increased their target price on shares of GitLab from $50.00 to $70.00 and gave the company a "neutral" rating in a research report on Friday, December 6th. Barclays raised their target price on shares of GitLab from $55.00 to $70.00 and gave the company an "equal weight" rating in a research note on Monday, December 9th. Finally, The Goldman Sachs Group upped their price target on GitLab from $80.00 to $88.00 and gave the stock a "buy" rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, GitLab currently has a consensus rating of "Moderate Buy" and an average price target of $76.42.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in GitLab by 0.8% in the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company's stock valued at $146,774,000 after purchasing an additional 21,976 shares during the period. State Street Corp raised its position in GitLab by 5.8% in the 3rd 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. Geode Capital Management LLC boosted its stake in shares of 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 period. Fiera Capital Corp grew its position in shares of GitLab by 1.4% during the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company's stock worth $64,911,000 after buying an additional 16,961 shares in the last quarter. Finally, Bamco Inc. NY increased its stake in shares of GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company's stock worth $64,592,000 after buying an additional 4,874 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

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.