GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom Sells 20,000 Shares

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $56.26, for a total transaction of $1,125,200.00. Following the completion of the transaction, the director now directly owns 184,913 shares of the company’s stock, valued at approximately $10,403,205.38. This represents a 9.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

GitLab Trading Up 6.0 %

Shares of GTLB stock traded up $3.40 during midday trading on Friday, reaching $59.76. 2,874,946 shares of the stock were exchanged, compared to its average volume of 2,228,523. The firm has a market cap of $9.70 billion, a PE ratio of -186.75 and a beta of 0.54. The company’s 50 day moving average is $60.38 and its two-hundred day moving average is $53.71. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

Hedge Funds Weigh In On GitLab

Institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of GitLab by 549.1% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 3,726 shares of the company’s stock worth $185,000 after buying an additional 3,152 shares during the period. Principal Financial Group Inc. increased its stake in shares of GitLab by 14.6% during the second quarter. Principal Financial Group Inc. now owns 10,324 shares of the company’s stock valued at $513,000 after purchasing an additional 1,314 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of GitLab by 21.9% during the second quarter. Rhumbline Advisers now owns 128,193 shares of the company’s stock valued at $6,374,000 after purchasing an additional 22,989 shares during the last quarter. Arizona State Retirement System boosted its position in shares of GitLab by 41.8% in the 2nd quarter. Arizona State Retirement System now owns 31,538 shares of the company’s stock worth $1,568,000 after purchasing an additional 9,298 shares in the last quarter. Finally, Acadian Asset Management LLC grew its stake in shares of GitLab by 3,424.5% in the 2nd quarter. Acadian Asset Management LLC now owns 18,257 shares of the company’s stock worth $907,000 after buying an additional 17,739 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

GTLB has been the subject of a number of research analyst reports. Cantor Fitzgerald lifted their price objective on shares of GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. The Goldman Sachs Group lifted their price target on GitLab from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. increased their price objective on GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research report on Friday, December 6th. Macquarie initiated coverage on GitLab in a research report on Thursday, December 12th. They issued an “outperform” rating and a $90.00 target price for the company. Finally, Wells Fargo & Company increased their price target on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three 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’s stock. Based on data from MarketBeat.com, GitLab has an average 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.