Robin Schulman Sells 9,251 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 9,251 shares of GitLab stock in a transaction on Friday, January 17th. The shares were sold at an average price of $65.00, for a total transaction of $601,315.00. Following the transaction, the insider now owns 121,893 shares in the company, valued at $7,923,045. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Thursday, January 2nd, Robin Schulman sold 7,330 shares of GitLab stock. The shares were sold at an average price of $56.98, for a total value of $417,663.40.
• On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The shares were sold at an average price of $55.98, for a total value of $167,716.08.

GitLab Price Performance

NASDAQ:GTLB opened at $63.68 on Thursday. The firm has a market capitalization of $10.34 billion, a P/E ratio of -199.00 and a beta of 0.57. The business has a 50 day simple moving average of $61.46 and a 200 day simple moving average of $54.98. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53.

Hedge Funds Weigh In On GitLab

Several hedge funds and other institutional investors have recently modified their holdings of GTLB. KBC Group NV increased its holdings in shares of GitLab by 60.5% in the 4th quarter. KBC Group NV now owns 4,825 shares of the company’s stock worth $272,000 after acquiring an additional 1,818 shares during the period. Union Bancaire Privee UBP SA bought a new position in GitLab in the 4th quarter worth about $3,612,000. Blue Trust Inc. increased its stake in shares of GitLab by 68.3% in the fourth quarter. Blue Trust Inc. now owns 5,329 shares of the company’s stock valued at $275,000 after purchasing an additional 2,163 shares during the period. RFG Advisory LLC bought a new stake in shares of GitLab during the fourth quarter valued at approximately $221,000. Finally, Veracity Capital LLC acquired a new position in shares of GitLab during the fourth quarter worth approximately $464,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GTLB. Royal Bank of Canada upped their price target on GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Cantor Fitzgerald upped their target price on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. DA Davidson lifted their price target on shares of GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, December 6th. Needham & Company LLC reissued a “buy” rating and issued a $85.00 price objective on shares of GitLab in a research report on Tuesday, January 7th. Finally, Macquarie restated an “outperform” rating and set a $90.00 target price on shares of GitLab in a research note on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and a consensus price target of $76.42.

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.