GitLab Inc. (NASDAQ:GTLB – Get Free Report) insider Robin Schulman sold 2,990 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $55.00, for a total transaction of $164,450.00. Following the sale, the insider now owns 136,076 shares of the company’s stock, valued at approximately $7,484,180. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.
Robin Schulman also recently made the following trade(s):
- On Wednesday, July 17th, Robin Schulman sold 2,402 shares of GitLab stock. The stock was sold at an average price of $56.25, for a total transaction of $135,112.50.
GitLab Trading Up 0.7 %
Shares of GitLab stock opened at $54.73 on Monday. The business’s fifty day simple moving average is $49.25 and its 200 day simple moving average is $51.05. 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 $8.70 billion, a P/E ratio of -19.90 and a beta of 0.46.
Institutional Investors Weigh In On GitLab
Several large investors have recently added to or reduced their stakes in the company. Creative Planning purchased a new stake in GitLab in the 3rd quarter worth about $208,000. Westend Capital Management LLC purchased a new stake in GitLab in the 3rd quarter worth about $4,934,000. CWM LLC increased its holdings in GitLab by 40.9% in the 3rd quarter. CWM LLC now owns 65,523 shares of the company’s stock worth $3,377,000 after acquiring an additional 19,022 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in GitLab in the 3rd quarter worth about $52,000. Finally, Handelsbanken Fonder AB increased its holdings in GitLab by 28.8% in the 3rd quarter. Handelsbanken Fonder AB now owns 28,200 shares of the company’s stock worth $1,453,000 after acquiring an additional 6,300 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $55.00 price objective on shares of GitLab in a research report on Monday, August 19th. Robert W. Baird raised their price target on shares of GitLab from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Baird R W upgraded shares of GitLab to a “strong-buy” rating in a report on Tuesday, August 27th. Wells Fargo & Company raised their price target on shares of GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Finally, Royal Bank of Canada raised their price target on shares of GitLab from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.22.
Read Our Latest Stock Analysis on GitLab
About GitLab
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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