GitLab Inc. (NASDAQ:GTLB) Director Sells $410,735.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 6,500 shares of GitLab stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total value of $410,735.00. Following the transaction, the director now owns 128,233 shares in the company, valued at $8,103,043.27. This represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Monday, December 16th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $58.99, for a total value of $191,717.50.
• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $59.41, for a total value of $193,082.50.

GitLab Stock Performance

Shares of GitLab stock opened at $64.20 on Friday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The company’s fifty day simple moving average is $61.25 and its 200-day simple moving average is $54.71.

Institutional Trading of GitLab

Hedge funds have recently bought and sold shares of the stock. Renaissance Technologies LLC increased its holdings in shares of GitLab by 168.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock worth $59,196,000 after purchasing an additional 747,712 shares during the period. Primecap Management Co. CA increased its stake in GitLab by 269.5% during the second quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock valued at $41,120,000 after acquiring an additional 603,200 shares during the period. Los Angeles Capital Management LLC bought a new position in GitLab during the third quarter valued at about $30,827,000. Atreides Management LP acquired a new position in GitLab in the 3rd quarter valued at approximately $25,605,000. Finally, Thrivent Financial for Lutherans lifted its position in shares of GitLab by 128.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock worth $28,577,000 after acquiring an additional 312,119 shares during the period. 95.04% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on GTLB shares. Barclays raised their price target on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Canaccord Genuity Group lifted their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Wells Fargo & Company lifted their price objective on GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. KeyCorp boosted their target price on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Finally, Cantor Fitzgerald raised their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.