Insider Selling: GitLab Inc. (NASDAQ:GTLB) Insider Sells 7,330 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 7,330 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $56.98, for a total transaction of $417,663.40. Following the transaction, the insider now directly owns 121,893 shares of the company’s stock, valued at approximately $6,945,463.14. This represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Robin Schulman also recently made the following trade(s):

• On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The stock was sold at an average price of $55.98, for a total value of $167,716.08.
• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00.

GitLab Stock Up 6.0 %

GTLB opened at $59.76 on Monday. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The firm has a market cap of $9.70 billion, a PE ratio of -186.75 and a beta of 0.54. The business has a fifty day simple moving average of $60.38 and a 200-day simple moving average of $53.79.

Institutional Trading of GitLab

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

Analyst Ratings Changes

A number of research analysts have recently commented on GTLB shares. JPMorgan Chase & Co. boosted their target price on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Needham & Company LLC boosted their price objective on GitLab from $70.00 to $85.00 and gave the company a “buy” rating in a report on Friday, December 6th. TD Cowen boosted their price target on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Robert W. Baird boosted their price objective on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, The Goldman Sachs Group upped their price objective on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, GitLab has a consensus rating of “Moderate Buy” and an average target price of $76.42.

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.