GitLab Inc. (NASDAQ:GTLB) Director Sells $2,075,200.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 40,000 shares of the stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $51.88, for a total value of $2,075,200.00. Following the transaction, the director now owns 144,913 shares in the company, valued at $7,518,086.44. This trade represents a 21.63 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GitLab Stock Down 0.4 %

NASDAQ GTLB opened at $50.95 on Monday. GitLab Inc. has a 52 week low of $40.72 and a 52 week high of $74.18. The business’s fifty day simple moving average is $62.77 and its 200-day simple moving average is $59.34. The firm has a market cap of $8.27 billion, a PE ratio of -159.22 and a beta of 0.67.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GTLB. KeyCorp increased their target price on GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Robert W. Baird decreased their target price on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Monday, March 3rd. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of GitLab in a research report on Tuesday, March 4th. Finally, Mizuho decreased their target price on GitLab from $80.00 to $72.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 4th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.52.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently modified their holdings of the business. M&T Bank Corp increased its position in shares of GitLab by 3.1% during the 4th quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock worth $280,000 after purchasing an additional 148 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in shares of GitLab by 7.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock worth $116,000 after purchasing an additional 150 shares during the last quarter. OneDigital Investment Advisors LLC increased its position in shares of GitLab by 4.3% during the 4th quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $228,000 after purchasing an additional 166 shares during the last quarter. Utah Retirement Systems increased its position in shares of GitLab by 3.1% during the 4th quarter. Utah Retirement Systems now owns 6,600 shares of the company’s stock worth $372,000 after purchasing an additional 200 shares during the last quarter. Finally, Mariner LLC increased its position in shares of GitLab by 1.7% during the 4th quarter. Mariner LLC now owns 12,583 shares of the company’s stock worth $709,000 after purchasing an additional 214 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

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.