GitLab Inc. (NASDAQ:GTLB) Insider Robin Schulman Sells 2,996 Shares

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,996 shares of the stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $55.98, for a total value of $167,716.08. Following the transaction, the insider now directly owns 129,223 shares of the company’s stock, valued at approximately $7,233,903.54. This trade represents a 2.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Thursday, October 10th, Robin Schulman sold 2,990 shares of GitLab stock. The stock was sold at an average price of $55.00, for a total value of $164,450.00.

GitLab Stock Performance

GTLB opened at $60.45 on Wednesday. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53. The company’s 50 day simple moving average is $59.75 and its 200 day simple moving average is $52.97. The stock has a market capitalization of $9.81 billion, a PE ratio of -188.91 and a beta of 0.54.

Wall Street Analyst Weigh In

Several equities research analysts have commented on GTLB shares. Barclays boosted their target price on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Piper Sandler raised their price objective on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Needham & Company LLC boosted their target price on GitLab from $70.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Baird R W upgraded GitLab to a “strong-buy” rating in a research report on Tuesday, August 27th. Finally, The Goldman Sachs Group boosted their price objective on shares of GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $76.42.

Hedge Funds Weigh In On GitLab

Hedge funds have recently made changes to their positions in the stock. Oddo BHF Asset Management Sas purchased a new position in shares of GitLab in the 3rd quarter worth $6,865,000. Franklin Resources Inc. grew its stake in GitLab by 0.8% during the third quarter. Franklin Resources Inc. now owns 2,670,072 shares of the company’s stock worth $146,774,000 after buying an additional 21,976 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of GitLab in the third quarter worth $98,000. Sanctuary Advisors LLC increased its position in shares of GitLab by 205.9% in the third quarter. Sanctuary Advisors LLC now owns 12,245 shares of the company’s stock worth $631,000 after acquiring an additional 8,242 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of GitLab by 7.0% during the 3rd 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. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.