GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins Sells 16,668 Shares

GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins sold 16,668 shares of GitLab stock in a transaction on Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the sale, the chief financial officer now directly owns 250,109 shares of the company’s stock, valued at approximately $13,423,350.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

GitLab Trading Down 2.1 %

Shares of GTLB stock opened at $54.15 on Friday. The firm has a fifty day simple moving average of $49.25 and a 200-day simple moving average of $52.59. The company has a market capitalization of $8.60 billion, a PE ratio of -19.69 and a beta of 0.44. GitLab Inc. has a twelve month low of $40.19 and a twelve month high of $78.53.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The company had revenue of $182.58 million during the quarter, compared to analysts’ expectations of $176.86 million. During the same period in the prior year, the company posted ($0.29) EPS. The firm’s revenue for the quarter was up 30.8% on a year-over-year basis. Equities research analysts predict that GitLab Inc. will post -0.41 EPS for the current year.

Analyst Upgrades and Downgrades

GTLB has been the subject of several recent analyst reports. Bank of America lifted their price target on GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. BTIG Research boosted their target price on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Needham & Company LLC reaffirmed a “hold” rating on shares of GitLab in a research report on Wednesday, September 4th. TD Cowen lifted their price target on shares of GitLab from $58.00 to $63.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $55.00 price objective on shares of GitLab in a report on Monday, August 19th. Four analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.05.

Institutional Investors Weigh In On GitLab

Hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of GitLab by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock valued at $591,096,000 after buying an additional 1,070,994 shares during the last quarter. Capital Research Global Investors raised its holdings in GitLab by 78.5% in the first quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after acquiring an additional 3,096,437 shares in the last quarter. Norges Bank bought a new position in GitLab during the 4th quarter valued at $222,591,000. Fiera Capital Corp grew its holdings in GitLab by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,242,468 shares of the company’s stock worth $61,776,000 after acquiring an additional 14,687 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new position in GitLab during the 4th quarter worth $76,918,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

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.