GitLab Inc. (NASDAQ:GTLB) Insider Sells $5,291,160.00 in Stock

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

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

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

GitLab Trading Down 1.8 %

Shares of GTLB opened at $63.02 on Friday. GitLab Inc. has a twelve month low of $40.72 and a twelve month high of $78.53. The firm has a market capitalization of $10.23 billion, a PE ratio of -196.94 and a beta of 0.57. The stock’s 50 day moving average is $61.30 and its two-hundred day moving average is $54.81.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GTLB shares. Truist Financial restated a “buy” rating and issued a $90.00 target price (up previously from $80.00) on shares of GitLab in a report on Friday, December 6th. Cantor Fitzgerald raised their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. KeyCorp boosted their target price on GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $85.00 price objective on shares of GitLab in a report on Tuesday, January 7th. Finally, DA Davidson increased their price target on shares of GitLab from $50.00 to $70.00 and gave the company a “neutral” rating in a research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

Institutional Trading of GitLab

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in GitLab by 168.8% in the second quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after buying an additional 747,712 shares during the period. Primecap Management Co. CA boosted its stake in GitLab by 269.5% during the 2nd quarter. Primecap Management Co. CA now owns 827,040 shares of the company’s stock valued at $41,120,000 after acquiring an additional 603,200 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of GitLab in the 3rd quarter worth about $30,827,000. Atreides Management LP bought a new stake in GitLab in the third quarter valued at about $25,605,000. Finally, Thrivent Financial for Lutherans lifted its holdings in shares of GitLab by 128.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 554,455 shares of the company’s stock worth $28,577,000 after purchasing an additional 312,119 shares during the last quarter. Hedge funds and other institutional investors 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.