GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 2,990 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,990 shares of GitLab stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $55.00, for a total value of $164,450.00. Following the sale, the insider now owns 136,076 shares in the company, valued at $7,484,180. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

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

• On Wednesday, July 17th, Robin Schulman sold 2,402 shares of GitLab stock. The stock was sold at an average price of $56.25, for a total transaction of $135,112.50.

GitLab Trading Up 0.7 %

Shares of GTLB stock traded up $0.37 during trading hours on Friday, hitting $54.73. 1,589,710 shares of the company’s stock were exchanged, compared to its average volume of 2,451,234. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53. The business’s 50 day simple moving average is $49.11 and its 200-day simple moving average is $51.18. The company has a market capitalization of $8.70 billion, a PE ratio of -20.15 and a beta of 0.46.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.05. The business had revenue of $182.58 million during the quarter, compared to analyst estimates of $176.86 million. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The company’s revenue was up 30.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.29) earnings per share. Equities analysts anticipate that GitLab Inc. will post -0.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its position in GitLab by 2,107.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock valued at $33,000 after buying an additional 548 shares during the period. Banque Cantonale Vaudoise purchased a new stake in shares of GitLab during the first quarter worth about $58,000. Future Financial Wealth Managment LLC bought a new stake in shares of GitLab in the first quarter worth about $58,000. Quarry LP increased its holdings in GitLab by 75.1% during the 4th quarter. Quarry LP now owns 1,166 shares of the company’s stock valued at $73,000 after purchasing an additional 500 shares during the period. Finally, Tucker Asset Management LLC bought a new position in GitLab during the 4th quarter valued at approximately $83,000. Institutional investors own 91.72% of the company’s stock.

Analysts Set New Price Targets

GTLB has been the subject of several research reports. Baird R W raised GitLab to a “strong-buy” rating in a report on Tuesday, August 27th. UBS Group increased their target price on shares of GitLab from $62.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $55.00 price objective on shares of GitLab in a report on Monday, August 19th. Barclays boosted their target price on shares of GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Finally, TD Cowen raised their price target on GitLab from $58.00 to $63.00 and gave the stock a “buy” rating in a report on Wednesday, September 4th. Four research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.22.

GitLab Company Profile

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.