Karen Blasing Sells 6,500 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 6,500 shares of GitLab stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total transaction of $410,735.00. Following the transaction, the director now owns 128,233 shares in the company, valued at $8,103,043.27. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Karen Blasing also recently made the following trade(s):

• On Monday, December 16th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $58.99, for a total value of $191,717.50.
• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $59.41, for a total transaction of $193,082.50.

GitLab Trading Up 2.0 %

GTLB traded up $1.27 during trading hours on Thursday, hitting $64.20. The company’s stock had a trading volume of 2,052,747 shares, compared to its average volume of 2,330,596. The company has a 50-day simple moving average of $61.19 and a 200 day simple moving average of $54.64. The firm has a market capitalization of $10.42 billion, a PE ratio of -200.63 and a beta of 0.57. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of GTLB. Future Financial Wealth Managment LLC bought a new position in GitLab in the 3rd quarter valued at about $52,000. True Wealth Design LLC acquired a new stake in shares of GitLab in the 3rd quarter worth approximately $56,000. Rakuten Securities Inc. boosted its holdings in shares of GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after acquiring an additional 1,032 shares in the last quarter. Quarry LP increased its stake in shares of GitLab by 527.0% during the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after acquiring an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in GitLab during the third quarter worth approximately $96,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GTLB has been the subject of a number of analyst reports. Piper Sandler upped their price objective on shares of GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Scotiabank increased their price target on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their price objective on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their target price on GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Finally, Barclays lifted 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. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.