Susan L. Bostrom Sells 20,000 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of GitLab stock in a transaction that occurred on Tuesday, December 24th. The stock was sold at an average price of $60.19, for a total transaction of $1,203,800.00. Following the transaction, the director now directly owns 204,913 shares in the company, valued at $12,333,713.47. The trade was a 8.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

GitLab Price Performance

Shares of GTLB opened at $57.97 on Friday. The company has a market cap of $9.41 billion, a PE ratio of -181.16 and a beta of 0.54. The firm has a 50-day moving average of $60.15 and a 200-day moving average of $53.35. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53.

Analyst Ratings Changes

GTLB has been the topic of several analyst reports. Morgan Stanley increased their target price on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. TD Cowen raised their price objective on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, November 21st. Truist Financial reissued a “buy” rating and issued a $90.00 target price (up from $80.00) on shares of GitLab in a research note on Friday, December 6th. Cantor Fitzgerald raised their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Robert W. Baird boosted their price objective on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and an average price target of $76.42.

Hedge Funds Weigh In On GitLab

Hedge funds and other institutional investors have recently bought and sold shares of the business. Future Financial Wealth Managment LLC bought a new stake in GitLab in the third quarter valued at approximately $52,000. True Wealth Design LLC acquired a new stake in GitLab during the 3rd quarter valued at $56,000. Rakuten Securities Inc. boosted its position in GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after purchasing an additional 1,032 shares during the period. Quarry LP increased its holdings in shares of GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of GitLab in the third quarter valued at about $96,000. Institutional investors own 95.04% 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.