Sytse Sijbrandij Sells 84,000 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) insider Sytse Sijbrandij sold 84,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $62.99, for a total transaction of $5,291,160.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, November 18th, Sytse Sijbrandij sold 84,776 shares of GitLab stock. The shares were sold at an average price of $59.64, for a total transaction of $5,056,040.64.

GitLab Price Performance

NASDAQ:GTLB opened at $63.02 on Friday. The firm’s fifty day moving average price is $61.30 and its 200 day moving average price is $54.79. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53. The firm has a market cap of $10.23 billion, a price-to-earnings ratio of -196.94 and a beta of 0.57.

Hedge Funds Weigh In On GitLab

A number of hedge funds and other institutional investors have recently bought and sold shares of GTLB. Bank of Marin lifted its holdings in GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after acquiring an additional 171 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in GitLab by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock valued at $4,713,000 after acquiring an additional 281 shares during the period. Glenmede Trust Co. NA lifted its holdings in GitLab by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after acquiring an additional 334 shares during the period. Blue Trust Inc. lifted its holdings in GitLab by 18.2% in the third quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock valued at $157,000 after acquiring an additional 488 shares during the period. Finally, Blair William & Co. IL lifted its holdings in GitLab by 1.9% in the second quarter. Blair William & Co. IL now owns 42,151 shares of the company’s stock valued at $2,096,000 after acquiring an additional 769 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a report on Friday, December 6th. Barclays raised their target price on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a report on Monday, December 9th. Wells Fargo & Company raised their target price on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Canaccord Genuity Group raised their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group raised their price objective on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and an average price target of $76.42.

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.