GitLab (NASDAQ:GTLB) Given “Overweight” Rating at Cantor Fitzgerald

GitLab (NASDAQ:GTLB)‘s stock had its “overweight” rating reaffirmed by Cantor Fitzgerald in a research report issued on Tuesday,Benzinga reports. They presently have a $80.00 price target on the stock. Cantor Fitzgerald’s target price points to a potential upside of 43.13% from the stock’s current price.

GTLB has been the topic of a number of other reports. Needham & Company LLC restated a “buy” rating and issued a $85.00 price target on shares of GitLab in a research note on Tuesday. Macquarie reissued an “outperform” rating and issued a $90.00 target price on shares of GitLab in a research report on Wednesday, January 15th. The Goldman Sachs Group boosted their price target on GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Morgan Stanley increased their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Finally, DA Davidson cut their target price on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday. Three 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 stock. Based on data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and an average target price of $75.50.

GitLab Stock Down 0.6 %

Shares of NASDAQ GTLB opened at $55.90 on Tuesday. The company has a 50 day moving average of $64.30 and a 200 day moving average of $58.69. GitLab has a twelve month low of $40.72 and a twelve month high of $74.18. The firm has a market cap of $9.07 billion, a P/E ratio of -173.19 and a beta of 0.63.

Insider Buying and Selling at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robin Schulman sold 9,251 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $70.00, for a total value of $647,570.00. Following the sale, the insider now owns 121,893 shares of the company’s stock, valued at $8,532,510. This trade represents a 7.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 740,257 shares of company stock valued at $44,710,867. Company insiders own 21.36% of the company’s stock.

Institutional Trading of GitLab

A number of institutional investors have recently made changes to their positions in the business. Y Intercept Hong Kong Ltd acquired a new stake in GitLab in the third quarter worth about $678,000. State Street Corp raised its position in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after purchasing an additional 111,997 shares during the last quarter. Barclays PLC boosted its stake in GitLab by 189.1% in the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after purchasing an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas purchased a new stake in GitLab during the 3rd quarter worth approximately $6,865,000. Finally, Barton Investment Management increased its stake in GitLab by 99.4% during the 4th quarter. Barton Investment Management now owns 335,648 shares of the company’s stock valued at $18,914,000 after purchasing an additional 167,290 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.