GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Matthew Jacobson sold 152,884 shares of the business's stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the transaction, the director now owns 493,554 shares in the company, valued at $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Matthew Jacobson also recently made the following trade(s):
- On Thursday, December 26th, Matthew Jacobson sold 547,679 shares of GitLab stock. The shares were sold at an average price of $59.72, for a total transaction of $32,707,389.88.
GitLab Stock Down 3.3 %
Shares of GTLB opened at $51.40 on Thursday. The business's fifty day moving average is $62.27 and its 200 day moving average is $59.26. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $74.18. The stock has a market cap of $8.34 billion, a P/E ratio of -160.63 and a beta of 0.67.
Wall Street Analyst Weigh In
Several research analysts have recently commented on GTLB shares. Truist Financial reaffirmed a "buy" rating and set a $90.00 target price (up from $80.00) on shares of GitLab in a report on Friday, December 6th. Needham & Company LLC reissued a "buy" rating and issued a $85.00 target price on shares of GitLab in a report on Tuesday, March 4th. Macquarie reissued an "outperform" rating and set a $90.00 price objective on shares of GitLab in a report on Tuesday, March 4th. The Goldman Sachs Group boosted their target price on shares of GitLab from $80.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Finally, Piper Sandler raised their price target on shares of GitLab from $75.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, December 6th. Three research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, GitLab presently has a consensus rating of "Moderate Buy" and a consensus price target of $75.52.
Check Out Our Latest Analysis on GTLB
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in GTLB. EverSource Wealth Advisors LLC lifted its position in GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after acquiring an additional 513 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after buying an additional 452 shares during the last quarter. IMG Wealth Management Inc. bought a new stake in GitLab during the fourth quarter worth $46,000. True Wealth Design LLC purchased a new stake in GitLab in the 3rd quarter valued at $56,000. Finally, Raleigh Capital Management Inc. bought a new position in GitLab during the 4th quarter valued at $66,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.
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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