GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 9,251 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 9,251 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total value of $647,570.00. Following the completion of the transaction, the insider now owns 121,893 shares of the company’s stock, valued at $8,532,510. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Friday, January 17th, Robin Schulman sold 9,251 shares of GitLab stock. The stock was sold at an average price of $65.00, for a total transaction of $601,315.00.
• On Thursday, January 2nd, Robin Schulman sold 7,330 shares of GitLab stock. The shares were sold at an average price of $56.98, for a total transaction of $417,663.40.
• 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 transaction of $167,716.08.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $69.38 on Friday. The firm has a market capitalization of $11.26 billion, a PE ratio of -216.81 and a beta of 0.57. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The business has a 50-day moving average of $62.16 and a two-hundred day moving average of $55.59.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on GTLB shares. Wells Fargo & Company lifted their price target on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Robert W. Baird upped their target price on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Piper Sandler lifted their price target on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, Royal Bank of Canada increased their price objective on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Three equities 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 stock. Based on data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and an average price target of $76.42.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of GTLB. Principal Securities Inc. increased its position in shares of GitLab by 79.6% in the fourth quarter. Principal Securities Inc. now owns 5,373 shares of the company’s stock worth $303,000 after acquiring an additional 2,381 shares in the last quarter. Palumbo Wealth Management LLC boosted its position in GitLab by 26.9% during the 4th quarter. Palumbo Wealth Management LLC now owns 5,761 shares of the company’s stock worth $325,000 after purchasing an additional 1,222 shares during the period. Rhumbline Advisers increased its holdings in GitLab by 5.5% in the 4th quarter. Rhumbline Advisers now owns 150,312 shares of the company’s stock valued at $8,470,000 after purchasing an additional 7,837 shares in the last quarter. Blue Trust Inc. raised its position in GitLab by 60.9% in the fourth quarter. Blue Trust Inc. now owns 5,095 shares of the company’s stock valued at $287,000 after purchasing an additional 1,929 shares during the period. Finally, Vontobel Holding Ltd. acquired a new position in shares of GitLab during the fourth quarter worth about $549,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.