GitLab (NASDAQ:GTLB – Get Rating) had its price objective cut by Bank of America from $75.00 to $50.00 in a report released on Tuesday morning, The Fly reports.
Several other research analysts have also weighed in on GTLB. FBN Securities initiated coverage on shares of GitLab in a report on Monday, January 23rd. They set an outperform rating and a $60.00 price objective on the stock. Truist Financial cut their price objective on shares of GitLab from $75.00 to $65.00 and set a buy rating on the stock in a report on Wednesday, February 22nd. Piper Sandler cut their price objective on shares of GitLab from $60.00 to $58.00 and set an overweight rating on the stock in a report on Thursday, January 5th. Barclays initiated coverage on shares of GitLab in a research report on Thursday, December 15th. They set an overweight rating and a $65.00 target price for the company. Finally, Needham & Company LLC downgraded shares of GitLab from a buy rating to a hold rating in a research report on Friday, February 10th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, GitLab presently has a consensus rating of Moderate Buy and a consensus price target of $61.57.
GitLab Trading Down 23.9 %
NASDAQ:GTLB opened at $33.96 on Tuesday. The firm has a market cap of $5.08 billion, a price-to-earnings ratio of -27.61 and a beta of -0.18. The company’s 50-day moving average is $46.30 and its two-hundred day moving average is $47.17. GitLab has a 12-month low of $30.92 and a 12-month high of $70.96.
In other news, major shareholder Divesh Makan sold 53,676 shares of the firm’s stock in a transaction on 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 SEC, which can be accessed through the SEC website. In other news, major shareholder Divesh Makan sold 53,676 shares of the firm’s stock in a transaction on 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 SEC, which can be accessed through the SEC website. Also, insider Dale R. Brown sold 2,680 shares of the firm’s stock in a transaction on Thursday, January 26th. The shares were sold at an average price of $50.00, for a total value of $134,000.00. Following the transaction, the insider now directly owns 16,265 shares in the company, valued at $813,250. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 64,082 shares of company stock valued at $2,880,100. Company insiders own 0.19% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds have recently bought and sold shares of GTLB. Exchange Traded Concepts LLC acquired a new position in GitLab during the fourth quarter worth about $30,000. Sands Capital Ventures LLC purchased a new position in GitLab in the 4th quarter worth about $30,000. OLD Mission Capital LLC purchased a new position in GitLab in the 4th quarter worth about $37,000. First Horizon Advisors Inc. purchased a new position in GitLab in the 3rd quarter worth about $47,000. Finally, Lazard Asset Management LLC purchased a new position in GitLab in the 1st quarter worth about $47,000. 48.99% of the stock is owned by institutional investors and hedge funds.
GitLab Company Profile
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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