GitLab (NASDAQ:GTLB – Get Rating) had its target price lowered by Royal Bank of Canada from $60.00 to $45.00 in a research report sent to investors on Tuesday morning, The Fly reports.
Several other equities analysts have also recently commented on GTLB. Barclays began coverage on GitLab in a research note on Thursday, December 15th. They set an overweight rating and a $65.00 target price for the company. KeyCorp cut their target price on GitLab from $63.00 to $60.00 and set an overweight rating on the stock in a research note on Tuesday, December 6th. Truist Financial cut their target price on GitLab from $65.00 to $50.00 in a research note on Tuesday. UBS Group cut their target price on GitLab to $59.00 in a research note on Monday, November 28th. Finally, Bank of America lowered their price target on GitLab from $75.00 to $50.00 in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $61.57.
GitLab Stock Performance
GTLB opened at $33.96 on Tuesday. The firm has a 50 day moving average price of $46.30 and a 200 day moving average price of $47.17. The company has a market cap of $5.08 billion, a PE ratio of -27.61 and a beta of -0.18. GitLab has a 1 year low of $30.92 and a 1 year high of $70.96.
Insider Buying and Selling
In related news, major shareholder Divesh Makan sold 53,676 shares of GitLab stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $44.65, for a total value of $2,396,633.40. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other GitLab news, major shareholder Divesh Makan sold 53,676 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The stock was sold at an average price of $44.65, for a total transaction of $2,396,633.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dale R. Brown sold 894 shares of the firm’s stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $41.66, for a total value of $37,244.04. Following the sale, the insider now owns 16,265 shares of the company’s stock, valued at $677,599.90. The disclosure for this sale can be found here. In the last quarter, insiders have sold 64,082 shares of company stock valued at $2,880,100. 0.19% of the stock is owned by corporate insiders.
Institutional Investors Weigh In On GitLab
Institutional investors have recently bought and sold shares of the business. Exchange Traded Concepts LLC acquired a new stake in shares of GitLab during the 4th quarter valued at about $30,000. Sands Capital Ventures LLC acquired a new stake in shares of GitLab during the 4th quarter valued at about $30,000. OLD Mission Capital LLC acquired a new stake in shares of GitLab during the 4th quarter valued at about $37,000. First Horizon Advisors Inc. acquired a new stake in shares of GitLab during the 3rd quarter valued at about $47,000. Finally, Lazard Asset Management LLC bought a new position in shares of GitLab in the 1st quarter valued at approximately $47,000. 48.99% of the stock is currently owned by institutional investors and hedge funds.
GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.
- Get a free copy of the StockNews.com research report on GitLab (GTLB)
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