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 Securities & Exchange Commission, 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 shares were sold at an average price of $59.64, for a total value of $5,056,040.64.

GitLab Stock Up 2.0 %

Shares of NASDAQ GTLB traded up $1.27 during midday trading on Thursday, reaching $64.20. 2,052,747 shares of the company were exchanged, compared to its average volume of 2,330,596. GitLab Inc. has a one year low of $40.72 and a one year high of $78.53. The stock has a market cap of $10.42 billion, a P/E ratio of -200.63 and a beta of 0.57. The stock’s 50-day moving average price is $61.19 and its 200-day moving average price is $54.64.

Analysts Set New Price Targets

Several brokerages recently issued reports on GTLB. DA Davidson increased their price objective on GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Barclays raised their target price on GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. The Goldman Sachs Group raised their target price on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Royal Bank of Canada lifted their price objective on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Finally, Piper Sandler lifted their target price on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Three equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Institutional Trading of GitLab

Several institutional investors have recently modified their holdings of the business. Franklin Resources Inc. grew 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 purchasing an additional 21,976 shares during the last quarter. State Street Corp grew its stake in shares of GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after purchasing an additional 111,997 shares during the last quarter. Geode Capital Management LLC boosted its position in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after acquiring an additional 132,548 shares during the last quarter. Fiera Capital Corp boosted its position in GitLab by 1.4% during the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after acquiring an additional 16,961 shares during the last quarter. Finally, Bamco Inc. NY boosted its position in GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after acquiring an additional 4,874 shares during the last quarter. Institutional investors own 95.04% 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.