GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 2,996 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,996 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08. Following the completion of the transaction, the insider now owns 129,223 shares of the company’s stock, valued at $7,233,903.54. This represents a 2.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The stock was sold at an average price of $55.00, for a total transaction of $164,450.00.

GitLab Trading Up 0.3 %

GitLab stock traded up $0.18 on Monday, reaching $60.01. 2,642,202 shares of the stock were exchanged, compared to its average volume of 2,459,943. The stock has a market cap of $9.74 billion, a PE ratio of -187.53 and a beta of 0.54. The firm has a fifty day moving average price of $59.65 and a two-hundred day moving average price of $52.86. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. The Goldman Sachs Group boosted their price target on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Cantor Fitzgerald raised their price objective on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. KeyCorp boosted their target price on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Robert W. Baird raised their target price on shares of GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

Hedge Funds Weigh In On GitLab

Large investors have recently made changes to their positions in the business. Bank of Marin increased its position in GitLab by 3.0% in the 3rd quarter. Bank of Marin now owns 5,856 shares of the company’s stock worth $302,000 after buying an additional 171 shares during the period. Moloney Securities Asset Management LLC raised its stake in GitLab by 4.9% during the 2nd quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock valued at $318,000 after purchasing an additional 300 shares during the last quarter. Glenmede Trust Co. NA boosted its holdings in GitLab by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after purchasing an additional 334 shares during the period. Blue Trust Inc. grew its position in GitLab by 18.2% in the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after purchasing an additional 488 shares during the last quarter. Finally, Caprock Group LLC increased its holdings in shares of GitLab by 1.9% during the 2nd quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock worth $1,555,000 after purchasing an additional 586 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

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.