GitLab Inc. (NASDAQ:GTLB) CEO Sells $4,139,250.00 in Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) CEO Sytse Sijbrandij sold 75,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $55.19, for a total value of $4,139,250.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Sytse Sijbrandij also recently made the following trade(s):

  • On Friday, March 15th, Sytse Sijbrandij sold 230,000 shares of GitLab stock. The stock was sold at an average price of $53.59, for a total value of $12,325,700.00.
  • On Tuesday, January 16th, Sytse Sijbrandij sold 380,000 shares of GitLab stock. The shares were sold at an average price of $62.32, for a total transaction of $23,681,600.00.

GitLab Price Performance

Shares of GTLB opened at $59.87 on Friday. The business’s 50 day simple moving average is $67.20 and its 200-day simple moving average is $56.63. GitLab Inc. has a 1 year low of $26.24 and a 1 year high of $78.53. The stock has a market capitalization of $9.32 billion, a price-to-earnings ratio of -21.77 and a beta of 0.52.

GitLab (NASDAQ:GTLBGet Free Report) last posted its quarterly earnings results on Monday, March 4th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The company had revenue of $163.80 million for the quarter, compared to the consensus estimate of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 17.47%. The firm’s revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.26) EPS. On average, sell-side analysts expect that GitLab Inc. will post -0.96 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GTLB. Vanguard Group Inc. raised its stake in GitLab by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock worth $591,096,000 after acquiring an additional 1,070,994 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of GitLab by 25.8% in the fourth quarter. Wellington Management Group LLP now owns 791,356 shares of the company’s stock valued at $49,824,000 after purchasing an additional 162,369 shares during the period. Tucker Asset Management LLC purchased a new position in shares of GitLab in the fourth quarter worth about $83,000. Quarry LP lifted its holdings in shares of GitLab by 75.1% during the fourth quarter. Quarry LP now owns 1,166 shares of the company’s stock worth $73,000 after purchasing an additional 500 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its position in GitLab by 2.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 36,729 shares of the company’s stock valued at $2,312,000 after buying an additional 1,004 shares during the last quarter. Institutional investors and hedge funds own 54.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on GTLB shares. Bank of America lowered their price target on GitLab from $88.00 to $85.00 and set a “buy” rating for the company in a report on Tuesday, March 5th. Wolfe Research raised shares of GitLab from a “peer perform” rating to an “outperform” rating and set a $75.00 target price for the company in a report on Wednesday, March 6th. Cantor Fitzgerald decreased their price target on shares of GitLab from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Tuesday, March 5th. Truist Financial increased their price objective on shares of GitLab from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Raymond James assumed coverage on shares of GitLab in a research note on Wednesday, November 29th. They set a “market perform” rating on the stock. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.05.

Read Our Latest Stock Analysis on GTLB

About GitLab

(Get Free Report)

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.

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