GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 2,990 Shares

GitLab Inc. (NASDAQ:GTLB) 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.

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

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.

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.