GitLab Inc. (NASDAQ:GTLB – Get Free Report) CAO Erin Mannix sold 958 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $59.53, for a total transaction of $57,029.74. Following the completion of the transaction, the chief accounting officer now owns 74,908 shares of the company’s stock, valued at $4,459,273.24. The sale was disclosed in a legal filing with the SEC, which is available at this link.
Erin Mannix also recently made the following trade(s):
- On Wednesday, December 27th, Erin Mannix sold 1,322 shares of GitLab stock. The stock was sold at an average price of $65.00, for a total transaction of $85,930.00.
GitLab Stock Performance
GTLB opened at $58.75 on Thursday. The company’s fifty day moving average price is $66.92 and its two-hundred day moving average price is $56.90. GitLab Inc. has a 1-year low of $26.24 and a 1-year high of $78.53.
Institutional Trading of GitLab
Institutional investors and hedge funds have recently made changes to their positions in the company. Invesco Ltd. raised its holdings in shares of GitLab by 71.3% in the third quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after purchasing an additional 1,762,944 shares during the last quarter. Wellington Management Group LLP raised its holdings in shares of GitLab by 280.3% in the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after purchasing an additional 463,584 shares during the last quarter. Polar Capital Holdings Plc purchased a new stake in shares of GitLab in the third quarter valued at about $7,558,000. Vanguard Group Inc. raised its holdings in shares of GitLab by 6.8% in the third quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock valued at $376,115,000 after purchasing an additional 530,702 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in GitLab by 72.3% during the third quarter. Quantbot Technologies LP now owns 48,861 shares of the company’s stock worth $2,209,000 after buying an additional 20,500 shares during the last quarter. Hedge funds and other institutional investors own 91.72% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on GTLB. Scotiabank upped their price objective on shares of GitLab from $60.00 to $70.00 and gave the stock a “sector outperform” rating in a research report on Tuesday, December 5th. Bank of America lowered their price objective on shares of GitLab from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Truist Financial upped their price objective on shares of GitLab from $75.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Mizuho lowered their price objective on shares of GitLab from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of GitLab from $48.00 to $55.00 and gave the stock a “neutral” rating in a report on Tuesday, December 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, GitLab has an average rating of “Moderate Buy” and an average target price of $69.19.
Get Our Latest Stock Report on GitLab
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.
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