Brian G. Robins Sells 10,000 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the transaction, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GitLab Price Performance

Shares of GTLB traded up $1.70 on Wednesday, hitting $73.14. The company’s stock had a trading volume of 2,604,446 shares, compared to its average volume of 2,983,926. The company has a 50 day moving average price of $62.56 and a 200 day moving average price of $56.15. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The company has a market capitalization of $11.87 billion, a PE ratio of -228.56 and a beta of 0.63.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Barclays lifted their price objective on shares of GitLab from $55.00 to $70.00 and gave the company an “equal weight” rating in a research note on Monday, December 9th. Canaccord Genuity Group increased their target price on shares of GitLab from $65.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Wells Fargo & Company boosted their price target on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Scotiabank raised their price objective on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a research note on Wednesday, December 4th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GTLB. Future Financial Wealth Managment LLC bought a new position in shares of GitLab in the third quarter worth about $52,000. True Wealth Design LLC bought a new position in GitLab in the 3rd quarter worth approximately $56,000. Raleigh Capital Management Inc. acquired a new position in GitLab during the 4th quarter worth $66,000. Smartleaf Asset Management LLC boosted its position in GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Rakuten Securities Inc. increased its stake in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after buying an additional 1,032 shares during the period. 95.04% of the stock is owned by institutional investors.

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.