GitLab Inc. (NASDAQ:GTLB – Get Free Report) CFO Brian G. Robins sold 23,334 shares of GitLab stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $50.24, for a total value of $1,172,300.16. Following the sale, the chief financial officer now directly owns 282,441 shares in the company, valued at approximately $14,189,835.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
GitLab Stock Performance
GTLB opened at $51.75 on Wednesday. The stock’s 50 day moving average price is $50.59 and its 200-day moving average price is $58.90. GitLab Inc. has a one year low of $40.19 and a one year high of $78.53. The stock has a market cap of $8.22 billion, a price-to-earnings ratio of -18.82 and a beta of 0.45.
GitLab (NASDAQ:GTLB – Get Free Report) last announced its quarterly earnings data on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The company had revenue of $169.19 million for the quarter, compared to the consensus estimate of $165.66 million. As a group, analysts predict that GitLab Inc. will post -0.5 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analysts Forecast Growth
GTLB has been the topic of several research analyst reports. Mizuho lowered their target price on shares of GitLab from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. KeyCorp decreased their price target on shares of GitLab from $70.00 to $62.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Wells Fargo & Company started coverage on GitLab in a research report on Tuesday, April 9th. They set an “overweight” rating and a $70.00 price objective for the company. DA Davidson decreased their target price on GitLab from $65.00 to $50.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 4th. Finally, Bank of America cut their price target on GitLab from $85.00 to $80.00 and set a “buy” rating for the company in a report on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $67.30.
Get Our Latest Analysis on GTLB
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.
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