GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 2,425 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,425 shares of the firm’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $58.75, for a total value of $142,468.75. Following the completion of the sale, the insider now directly owns 55,150 shares in the company, valued at $3,240,062.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, February 8th, Robin Schulman sold 30,543 shares of GitLab stock. The shares were sold at an average price of $75.11, for a total value of $2,294,084.73.
• On Tuesday, January 30th, Robin Schulman sold 15,712 shares of GitLab stock. The shares were sold at an average price of $75.02, for a total value of $1,178,714.24.
• On Wednesday, January 17th, Robin Schulman sold 1,704 shares of GitLab stock. The stock was sold at an average price of $65.00, for a total value of $110,760.00.

GitLab Stock Performance

NASDAQ:GTLB opened at $58.75 on Thursday. GitLab Inc. has a 52-week low of $26.24 and a 52-week high of $78.53. The firm has a market cap of $9.15 billion, a price-to-earnings ratio of -21.36 and a beta of 0.52. The business’s fifty day moving average is $66.92 and its 200 day moving average is $56.90.

GitLab (NASDAQ:GTLB) last announced its earnings results on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.07. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative return on equity of 17.47% and a negative net margin of 73.14%. The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.26) EPS. Equities analysts predict that GitLab Inc. will post -0.96 EPS for the current fiscal year.

Hedge Funds Weigh In On GitLab

A number of institutional investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd bought a new position in GitLab in the 4th quarter worth about $905,000. Vanguard Group Inc. increased its stake in GitLab by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock worth $591,096,000 after acquiring an additional 1,070,994 shares during the last quarter. Wellington Management Group LLP increased its stake in GitLab by 25.8% in the 4th quarter. Wellington Management Group LLP now owns 791,356 shares of the company’s stock worth $49,824,000 after acquiring an additional 162,369 shares during the last quarter. Tucker Asset Management LLC bought a new position in GitLab in the 4th quarter worth about $83,000. Finally, Quarry LP boosted its holdings in shares of GitLab by 75.1% in the 4th quarter. Quarry LP now owns 1,166 shares of the company’s stock worth $73,000 after purchasing an additional 500 shares in the last quarter. 91.72% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $80.00 target price on shares of GitLab in a report on Tuesday, March 5th. Raymond James initiated coverage on GitLab in a research report on Wednesday, November 29th. They set a “market perform” rating on the stock. Truist Financial lifted their target price on GitLab from $75.00 to $80.00 and gave the company a “buy” rating in a research report on Tuesday, February 20th. UBS Group cut their target price on GitLab from $81.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Finally, TD Cowen cut their price objective on GitLab from $80.00 to $76.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and an average price target of $69.19.

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.