Brian G. Robins Sells 11,667 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins sold 11,667 shares of the stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $45.46, for a total value of $530,381.82. Following the completion of the sale, the chief financial officer now owns 293,508 shares of the company’s stock, valued at $13,342,873.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GitLab Trading Down 1.6 %

Shares of GTLB stock opened at $44.51 on Friday. The firm has a fifty day simple moving average of $52.80 and a two-hundred day simple moving average of $59.79. 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 $7.06 billion, a PE ratio of -16.19 and a beta of 0.44.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several recent research reports. Cantor Fitzgerald decreased their price target on GitLab from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Sanford C. Bernstein raised their price target on shares of GitLab from $71.00 to $76.00 and gave the stock an “outperform” rating in a report on Tuesday, March 5th. Truist Financial restated a “buy” rating and issued a $80.00 price target on shares of GitLab in a research report on Monday, April 1st. KeyCorp decreased their price objective on shares of GitLab from $70.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Finally, Canaccord Genuity Group dropped their target price on shares of GitLab from $74.00 to $65.00 and set a “buy” rating on the stock in a report on Wednesday, June 5th. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a 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 $67.70.

Institutional Investors Weigh In On GitLab

Several hedge funds and other institutional investors have recently made changes to their positions in GTLB. Vanguard Personalized Indexing Management LLC boosted its stake in GitLab by 5.3% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 5,499 shares of the company’s stock valued at $346,000 after purchasing an additional 276 shares during the last quarter. Atria Wealth Solutions Inc. boosted its position in shares of GitLab by 2.0% during the fourth quarter. Atria Wealth Solutions Inc. now owns 14,582 shares of the company’s stock valued at $918,000 after buying an additional 290 shares during the last quarter. Asset Management One Co. Ltd. grew its holdings in GitLab by 2.6% during the fourth quarter. Asset Management One Co. Ltd. now owns 11,900 shares of the company’s stock worth $769,000 after buying an additional 300 shares in the last quarter. Park Avenue Securities LLC grew its holdings in GitLab by 9.6% during the first quarter. Park Avenue Securities LLC now owns 3,544 shares of the company’s stock worth $207,000 after buying an additional 311 shares in the last quarter. Finally, Treasurer of the State of North Carolina lifted its stake in GitLab by 1.0% during the 4th quarter. Treasurer of the State of North Carolina now owns 38,900 shares of the company’s stock valued at $2,449,000 after acquiring an additional 380 shares in the last quarter. 91.72% of the stock is owned by 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.