GitLab Inc. (NASDAQ:GTLB) Insider Sells $142,468.75 in Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) insider Robin Schulman sold 2,425 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was sold at an average price of $58.75, for a total transaction of $142,468.75. Following the completion of the transaction, the insider now owns 55,150 shares in the company, valued at approximately $3,240,062.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

  • On Thursday, February 8th, Robin Schulman sold 30,543 shares of GitLab stock. The stock was sold at an average price of $75.11, for a total transaction of $2,294,084.73.
  • On Tuesday, January 30th, Robin Schulman sold 15,712 shares of GitLab stock. The stock was sold at an average price of $75.02, for a total transaction of $1,178,714.24.
  • On Wednesday, January 17th, Robin Schulman sold 1,704 shares of GitLab stock. The stock was sold at an average price of $65.00, for a total transaction of $110,760.00.

GitLab Price Performance

Shares of GTLB stock opened at $59.08 on Wednesday. GitLab Inc. has a 1-year low of $26.24 and a 1-year high of $78.53. The stock’s 50-day moving average is $67.09 and its 200 day moving average is $56.84. The company has a market cap of $9.20 billion, a P/E ratio of -21.48 and a beta of 0.52.

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

Institutional Investors Weigh In On GitLab

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its stake in GitLab by 71.3% in the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after buying an additional 1,762,944 shares during the last quarter. Wellington Management Group LLP raised its stake in GitLab by 280.3% in the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after buying an additional 463,584 shares during the last quarter. Polar Capital Holdings Plc purchased a new stake in GitLab in the third quarter valued at about $7,558,000. Quantbot Technologies LP raised its stake in GitLab by 72.3% in the third quarter. Quantbot Technologies LP now owns 48,861 shares of the company’s stock valued at $2,209,000 after buying an additional 20,500 shares during the last quarter. Finally, Corton Capital Inc. raised its stake in GitLab by 61.3% in the third quarter. Corton Capital Inc. now owns 28,705 shares of the company’s stock valued at $1,298,000 after buying an additional 10,907 shares during the last quarter. 91.72% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on GTLB shares. Bank of America cut their price target on shares of GitLab from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. JPMorgan Chase & Co. lifted their price target on shares of GitLab from $48.00 to $55.00 and gave the company a “neutral” rating in a report on Tuesday, December 5th. Raymond James assumed coverage on shares of GitLab in a report on Wednesday, November 29th. They set a “market perform” rating on the stock. TD Cowen dropped their target price on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a report on Tuesday, March 5th. Finally, Cantor Fitzgerald decreased their target price on GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and an average target price of $69.19.

View Our Latest Stock Report on GitLab

GitLab Company Profile

(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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Insider Buying and Selling by Quarter for GitLab (NASDAQ:GTLB)

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