GitLab Inc. (NASDAQ:GTLB) CFO Sells $562,400.00 in Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $56.24, for a total value of $562,400.00. Following the completion of the sale, the chief financial officer now owns 267,380 shares of the company’s stock, valued at $15,037,451.20. This trade represents a 3.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GitLab Stock Up 6.0 %

NASDAQ:GTLB opened at $59.76 on Monday. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $78.53. The company has a fifty day simple moving average of $60.38 and a two-hundred day simple moving average of $53.79. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -186.75 and a beta of 0.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of GTLB. Franklin Resources Inc. increased its stake in shares of GitLab by 0.8% during the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after buying an additional 21,976 shares during the period. State Street Corp raised its holdings in shares of 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 lifted its position in shares of GitLab by 7.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after purchasing an additional 132,548 shares during the last quarter. Fiera Capital Corp grew its stake 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 purchasing an additional 16,961 shares in the last quarter. Finally, Bamco Inc. NY increased its holdings in GitLab by 0.4% in the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after buying an additional 4,874 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on GTLB shares. DA Davidson boosted their price target on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Piper Sandler boosted their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. KeyCorp raised their price target on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. boosted their price objective on GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Finally, Truist Financial restated 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 analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Check Out Our Latest Stock Report on GTLB

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.

Featured Articles

Insider Buying and Selling by Quarter for GitLab (NASDAQ:GTLB)

Receive News & Ratings for GitLab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GitLab and related companies with MarketBeat.com's FREE daily email newsletter.