GitLab Inc. (NASDAQ:GTLB) Insider Sells $5,291,160.00 in Stock

GitLab Inc. (NASDAQ:GTLB) insider Sytse Sijbrandij sold 84,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total value of $5,291,160.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Sytse Sijbrandij also recently made the following trade(s):

• On Monday, November 18th, Sytse Sijbrandij sold 84,776 shares of GitLab stock. The stock was sold at an average price of $59.64, for a total transaction of $5,056,040.64.

GitLab Price Performance

NASDAQ GTLB opened at $64.20 on Friday. The stock’s fifty day moving average price is $61.25 and its 200 day moving average price is $54.71. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GTLB shares. DA Davidson boosted their price target on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Scotiabank upped their target price on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Morgan Stanley lifted their price target on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Robert W. Baird upped their price objective on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in GitLab in the third quarter valued at approximately $678,000. State Street Corp boosted its holdings in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after acquiring an additional 111,997 shares during the last quarter. Barclays PLC increased its stake in shares of GitLab by 189.1% in the third quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after acquiring an additional 40,171 shares during the period. Oddo BHF Asset Management Sas purchased a new position in shares of GitLab during the third quarter worth $6,865,000. Finally, ARK Investment Management LLC purchased a new stake in GitLab in the third quarter valued at $13,435,000. 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.