GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 7,330 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 7,330 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $56.98, for a total transaction of $417,663.40. Following the transaction, the insider now owns 121,893 shares of the company’s stock, valued at $6,945,463.14. This represents a 5.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The shares were sold at an average price of $55.98, for a total transaction of $167,716.08.
• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00.

GitLab Stock Performance

NASDAQ GTLB opened at $59.76 on Friday. The firm’s 50 day moving average price is $60.38 and its two-hundred day moving average price is $53.71. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The stock has a market cap of $9.70 billion, a price-to-earnings ratio of -186.75 and a beta of 0.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. boosted its position in GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after acquiring an additional 21,976 shares during the period. State Street Corp boosted its holdings in shares of GitLab by 5.8% during 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 during the period. Geode Capital Management LLC grew its position in GitLab by 7.0% during the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after purchasing an additional 132,548 shares in the last quarter. Fiera Capital Corp grew its position 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 increased its stake in GitLab by 0.4% in the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock valued at $64,592,000 after buying an additional 4,874 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on GTLB shares. Scotiabank increased their price objective on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. KeyCorp increased their price target on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Macquarie began coverage on shares of GitLab in a research note on Thursday, December 12th. They set an “outperform” rating and a $90.00 price objective on the stock. Canaccord Genuity Group increased their target price on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada boosted their price target on shares of GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a research report on Friday, December 6th. 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 company. According to MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and an average target price of $76.42.

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.