GitLab Inc. (NASDAQ:GTLB – Get Free Report) CEO Sytse Sijbrandij sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $54.92, for a total value of $3,075,520.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Sytse Sijbrandij also recently made the following trade(s):
- On Monday, March 18th, Sytse Sijbrandij sold 75,000 shares of GitLab stock. The shares were sold at an average price of $55.19, for a total value of $4,139,250.00.
- On Friday, March 15th, Sytse Sijbrandij sold 230,000 shares of GitLab stock. The shares were sold at an average price of $53.59, for a total value of $12,325,700.00.
GitLab Trading Down 0.6 %
Shares of GTLB opened at $53.51 on Thursday. The firm has a market cap of $8.49 billion, a PE ratio of -19.46 and a beta of 0.45. The stock has a fifty day moving average price of $62.68 and a 200-day moving average price of $57.90. GitLab Inc. has a 12 month low of $26.24 and a 12 month high of $78.53.
Analyst Upgrades and Downgrades
GTLB has been the topic of a number of analyst reports. Truist Financial reaffirmed a “buy” rating and set a $80.00 target price on shares of GitLab in a research note on Monday, April 1st. TD Cowen dropped their price objective on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company assumed coverage on GitLab in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $70.00 price objective on the stock. DA Davidson lowered their target price on GitLab from $75.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, March 5th. Finally, Bank of America lowered their target price on GitLab from $88.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $70.73.
Read Our Latest Research Report on GTLB
Hedge Funds Weigh In On GitLab
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GTLB. FMR LLC raised its stake in GitLab by 80.0% in the 3rd quarter. FMR LLC now owns 603 shares of the company’s stock worth $27,000 after acquiring an additional 268 shares during the last quarter. Ossiam purchased a new position in GitLab in the 1st quarter worth $27,000. Quarry LP acquired a new stake in GitLab during the 2nd quarter worth about $30,000. Ramirez Asset Management Inc. acquired a new stake in GitLab during the 3rd quarter worth about $36,000. Finally, SRS Capital Advisors Inc. acquired a new stake in GitLab during the 3rd quarter worth about $40,000. Hedge funds and other institutional investors own 91.72% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than GitLab
- Why is the Ex-Dividend Date Significant to Investors?
- United Airlines Soars on Earnings Beat
- How Can Retail Investors Trade the Toronto Stock Exchange (TSX)?
- J.B. Hunt Hits the Skids: Lower Prices to Come
- What Are the U.K. Market Holidays? How to Invest and Trade
- Predicting a Bear Market: 7 Signs and Why it’s Tough to Do
Receive News & Ratings for GitLab Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GitLab and related companies with MarketBeat.com's FREE daily email newsletter.