GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Karen Blasing sold 3,250 shares of the company's stock in a transaction that occurred on Wednesday, April 23rd. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director now directly owns 111,983 shares in the company, valued at approximately $5,039,235. This represents a 2.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
GitLab Price Performance
Shares of NASDAQ:GTLB opened at $45.67 on Friday. The stock has a market cap of $7.41 billion, a price-to-earnings ratio of -142.72 and a beta of 0.79. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock's 50 day moving average price is $51.09 and its 200 day moving average price is $57.87.
Institutional Trading of GitLab
A number of hedge funds and other institutional investors have recently modified their holdings of GTLB. EverSource Wealth Advisors LLC boosted its stake in GitLab by 5,700.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company's stock valued at $29,000 after buying an additional 513 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of GitLab by 327.5% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 452 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of GitLab by 114.2% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after purchasing an additional 490 shares in the last quarter. IMG Wealth Management Inc. acquired a new position in shares of GitLab in the 4th quarter worth approximately $46,000. Finally, Raleigh Capital Management Inc. bought a new stake in shares of GitLab in the 4th quarter worth approximately $66,000. Institutional investors own 95.04% of the company's stock.
Analysts Set New Price Targets
A number of analysts have weighed in on GTLB shares. Morgan Stanley dropped their target price on shares of GitLab from $77.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. Barclays cut their target price on shares of GitLab from $70.00 to $58.00 and set an "equal weight" rating on the stock in a report on Tuesday, March 4th. JPMorgan Chase & Co. lowered their target price on GitLab from $65.00 to $62.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Needham & Company LLC reissued a "buy" rating and issued a $85.00 price target on shares of GitLab in a report on Tuesday, March 4th. Finally, Macquarie restated an "outperform" rating and set a $90.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Three research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, GitLab presently has an average rating of "Moderate Buy" and an average target price of $71.73.
View Our Latest Research Report on GitLab
About GitLab
(
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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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