Insider Selling: GitLab Inc. (NASDAQ:GTLB) CFO Sells 11,667 Shares of Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) CFO Brian G. Robins sold 11,667 shares of GitLab stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $45.46, for a total value of $530,381.82. Following the sale, the chief financial officer now directly owns 293,508 shares in the company, valued at $13,342,873.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

GitLab Price Performance

Shares of NASDAQ:GTLB traded down $1.05 during mid-day trading on Thursday, hitting $45.23. The company had a trading volume of 2,066,665 shares, compared to its average volume of 2,556,083. GitLab Inc. has a one year low of $40.19 and a one year high of $78.53. The firm has a fifty day moving average price of $53.26 and a 200 day moving average price of $59.90. The company has a market capitalization of $7.17 billion, a PE ratio of -16.80 and a beta of 0.44.

Institutional Investors Weigh In On GitLab

A number of large investors have recently bought and sold shares of the stock. Fiera Capital Corp grew its stake in shares of GitLab by 0.5% in the 4th quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock valued at $75,540,000 after buying an additional 5,446 shares during the period. Charles Schwab Investment Management Inc. grew its stake in GitLab by 10.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 531,731 shares of the company’s stock valued at $33,478,000 after acquiring an additional 51,612 shares during the period. Invesco Ltd. grew its stake in 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 acquiring an additional 1,762,944 shares during the period. Wellington Management Group LLP increased its holdings in shares of GitLab by 280.3% during the third quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock valued at $28,443,000 after acquiring an additional 463,584 shares in the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of GitLab by 520.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 748,636 shares of the company’s stock worth $47,134,000 after purchasing an additional 627,999 shares during the period. 91.72% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GTLB shares. Citic Securities began coverage on shares of GitLab in a report on Monday, June 3rd. They issued a “buy” rating and a $80.00 price objective for the company. DA Davidson decreased their price target on shares of GitLab from $65.00 to $50.00 and set a “neutral” rating for the company in a research report on Tuesday, June 4th. Barclays cut their price target on shares of GitLab from $55.00 to $50.00 and set an “equal weight” rating on the stock in a report on Tuesday, June 4th. Bank of America reduced their price objective on shares of GitLab from $85.00 to $80.00 and set a “buy” rating on the stock in a research note on Tuesday, June 4th. Finally, Wells Fargo & Company began coverage on GitLab in a research report on Tuesday, April 9th. They set an “overweight” rating and a $70.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.70.

Read Our Latest Stock Analysis on GTLB

GitLab Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for GitLab (NASDAQ:GTLB)

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