GitLab Inc. (NASDAQ:GTLB) Director Merline Saintil Sells 1,182 Shares

GitLab Inc. (NASDAQ:GTLB) Director Merline Saintil sold 1,182 shares of the company’s stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $51.51, for a total value of $60,884.82. Following the completion of the transaction, the director now owns 9,902 shares in the company, valued at $510,052.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Merline Saintil also recently made the following trade(s):

• On Wednesday, June 26th, Merline Saintil sold 1,329 shares of GitLab stock. The shares were sold at an average price of $44.28, for a total value of $58,848.12.

GitLab Price Performance

NASDAQ:GTLB opened at $50.70 on Thursday. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53. The firm has a market capitalization of $8.06 billion, a PE ratio of -18.44 and a beta of 0.46. The business’s fifty day moving average price is $50.27 and its 200 day moving average price is $58.46.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.09. The business had revenue of $169.19 million for the quarter, compared to the consensus estimate of $165.66 million. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. As a group, equities analysts anticipate that GitLab Inc. will post -0.5 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. KeyCorp reduced their price objective on shares of GitLab from $70.00 to $62.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. BTIG Research decreased their price objective on shares of GitLab from $71.00 to $58.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Capital One Financial initiated coverage on shares of GitLab in a report on Friday, March 22nd. They issued an “overweight” rating and a $72.00 target price for the company. Wells Fargo & Company started coverage on GitLab in a research note on Tuesday, April 9th. They set an “overweight” rating and a $70.00 price target on the stock. Finally, Mizuho lowered their price target on GitLab from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.30.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in GitLab by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock valued at $591,096,000 after acquiring an additional 1,070,994 shares in the last quarter. Capital Research Global Investors boosted its position in shares of GitLab by 78.5% in the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after purchasing an additional 3,096,437 shares during the period. Norges Bank purchased a new position in GitLab during the 4th quarter worth approximately $222,591,000. 1832 Asset Management L.P. acquired a new position in GitLab during the fourth quarter worth approximately $76,918,000. Finally, Fiera Capital Corp lifted its stake in GitLab by 0.5% in the fourth quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock valued at $75,540,000 after buying an additional 5,446 shares during the last quarter. 91.72% of the stock is 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.