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

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of the business’s stock in a transaction dated Tuesday, December 31st. The shares were sold at an average price of $56.26, for a total value of $1,125,200.00. Following the transaction, the director now owns 184,913 shares in the company, valued at $10,403,205.38. This represents a 9.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

GitLab Stock Performance

NASDAQ:GTLB opened at $59.76 on Friday. The stock’s fifty day moving average price is $60.38 and its two-hundred day moving average price is $53.71. The company has a market cap of $9.70 billion, a price-to-earnings ratio of -186.75 and a beta of 0.54. GitLab Inc. has a 52-week low of $40.72 and a 52-week high of $78.53.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GTLB. Truist Financial restated a “buy” rating and set a $90.00 price objective (up from $80.00) on shares of GitLab in a research report on Friday, December 6th. Piper Sandler boosted their price target on shares of GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, December 6th. KeyCorp raised their price objective on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. DA Davidson upped their target price on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Barclays raised their price target on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Monday, December 9th. Three 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Hedge Funds Weigh In On GitLab

Several large investors have recently made changes to their positions in GTLB. Everence Capital Management Inc. bought a new stake in GitLab during the 4th quarter worth about $221,000. Oddo BHF Asset Management Sas bought a new stake in shares of GitLab during the third quarter worth approximately $6,865,000. Franklin Resources Inc. lifted its holdings in GitLab by 0.8% in the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after buying an additional 21,976 shares during the period. Wilmington Savings Fund Society FSB bought a new position in GitLab in the third quarter valued at approximately $98,000. Finally, Sanctuary Advisors LLC grew its holdings in GitLab by 205.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 12,245 shares of the company’s stock worth $631,000 after acquiring an additional 8,242 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.