GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom Sells 20,000 Shares

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of the business’s stock in a transaction on Tuesday, December 24th. The shares were sold at an average price of $60.19, for a total transaction of $1,203,800.00. Following the transaction, the director now owns 204,913 shares in the company, valued at approximately $12,333,713.47. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

GitLab Price Performance

Shares of NASDAQ GTLB traded down $1.77 during mid-day trading on Friday, hitting $57.97. The company had a trading volume of 2,036,035 shares, compared to its average volume of 2,453,714. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The firm has a market cap of $9.41 billion, a P/E ratio of -181.16 and a beta of 0.54. The business’s 50-day simple moving average is $60.15 and its 200-day simple moving average is $53.28.

Institutional Trading of GitLab

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of GitLab by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock valued at $146,774,000 after buying an additional 21,976 shares in the last quarter. State Street Corp raised its position in GitLab by 5.8% in the third quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after purchasing an additional 111,997 shares in the last quarter. Geode Capital Management LLC lifted its stake in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock worth $104,476,000 after purchasing an additional 132,548 shares during the period. Fiera Capital Corp boosted its holdings in GitLab by 1.4% during the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock valued at $64,911,000 after purchasing an additional 16,961 shares in the last quarter. Finally, Bamco Inc. NY boosted its holdings in GitLab by 0.4% during the third quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after purchasing an additional 4,874 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

GTLB has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and set a $90.00 price objective (up previously from $80.00) on shares of GitLab in a research report on Friday, December 6th. Robert W. Baird boosted their price target on GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research note 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. JPMorgan Chase & Co. boosted their target price on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, TD Cowen raised their price target on shares of GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, GitLab currently has an average rating of “Moderate Buy” and a consensus target price 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.