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 that occurred 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 sale, the insider now owns 121,893 shares in the company, valued at approximately $7,923,045. The trade was a 7.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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 transaction of $417,663.40.
• On Friday, December 20th, Robin Schulman sold 2,996 shares of GitLab stock. The stock was sold at an average price of $55.98, for a total transaction of $167,716.08.

GitLab Price Performance

GTLB stock opened at $63.94 on Friday. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The firm’s 50-day moving average is $61.51 and its 200 day moving average is $55.04. The company has a market capitalization of $10.38 billion, a PE ratio of -199.81 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GTLB. DA Davidson lifted their target price on GitLab from $50.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $90.00 price objective (up previously from $80.00) on shares of GitLab in a research note on Friday, December 6th. Needham & Company LLC reiterated a “buy” rating and set a $85.00 target price on shares of GitLab in a research report on Tuesday, January 7th. KeyCorp boosted their price target on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Finally, Royal Bank of Canada increased their price objective on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $76.42.

Hedge Funds Weigh In On GitLab

Hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its holdings in GitLab by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after purchasing an additional 21,976 shares during the period. State Street Corp grew its position in shares of GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of GitLab by 7.0% in the third quarter. Geode Capital Management LLC now owns 2,026,567 shares of the company’s stock valued at $104,476,000 after acquiring an additional 132,548 shares in the last quarter. Fiera Capital Corp lifted its stake in GitLab by 1.4% in the third quarter. Fiera Capital Corp now owns 1,259,429 shares of the company’s stock worth $64,911,000 after acquiring an additional 16,961 shares during the period. Finally, Bamco Inc. NY grew its holdings in GitLab by 0.4% during the 3rd quarter. Bamco Inc. NY now owns 1,253,244 shares of the company’s stock worth $64,592,000 after acquiring an additional 4,874 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

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.