GitLab Inc. (NASDAQ:GTLB) Insider Sells $142,468.75 in Stock

GitLab Inc. (NASDAQ:GTLB) insider Robin Schulman sold 2,425 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $58.75, for a total transaction of $142,468.75. Following the completion of the sale, the insider now owns 55,150 shares of the company’s stock, valued at $3,240,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, February 8th, Robin Schulman sold 30,543 shares of GitLab stock. The shares were sold at an average price of $75.11, for a total transaction of $2,294,084.73.
• On Tuesday, January 30th, Robin Schulman sold 15,712 shares of GitLab stock. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24.
• On Wednesday, January 17th, Robin Schulman sold 1,704 shares of GitLab stock. The shares were sold at an average price of $65.00, for a total transaction of $110,760.00.

GitLab Stock Performance

GitLab stock opened at $58.75 on Thursday. The company has a 50-day simple moving average of $66.92 and a 200-day simple moving average of $56.90. The firm has a market capitalization of $9.15 billion, a P/E ratio of -21.36 and a beta of 0.52. GitLab Inc. has a one year low of $26.24 and a one year high of $78.53.

GitLab (NASDAQ:GTLB) last announced its earnings results on Monday, March 4th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.07. The firm had revenue of $163.80 million during the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 17.47%. GitLab’s revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.26) EPS. As a group, sell-side analysts forecast that GitLab Inc. will post -0.96 earnings per share for the current year.

Hedge Funds Weigh In On GitLab

A number of institutional investors and hedge funds have recently bought and sold shares of GTLB. Raymond James & Associates grew its position in GitLab by 62.6% in the 1st quarter. Raymond James & Associates now owns 4,289 shares of the company’s stock valued at $234,000 after buying an additional 1,652 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in GitLab by 3,816.3% in the 1st quarter. Bank of New York Mellon Corp now owns 182,343 shares of the company’s stock valued at $9,930,000 after acquiring an additional 177,687 shares during the last quarter. BlackRock Inc. lifted its holdings in GitLab by 13.1% in the 1st quarter. BlackRock Inc. now owns 2,821,575 shares of the company’s stock valued at $153,635,000 after acquiring an additional 327,244 shares during the last quarter. Blair William & Co. IL lifted its holdings in GitLab by 229.4% in the 1st quarter. Blair William & Co. IL now owns 34,096 shares of the company’s stock valued at $1,857,000 after acquiring an additional 23,746 shares during the last quarter. Finally, Sei Investments Co. acquired a new stake in GitLab in the 1st quarter valued at about $1,634,000. Institutional investors own 91.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on GTLB shares. Raymond James started coverage on shares of GitLab in a research report on Wednesday, November 29th. They set a “market perform” rating on the stock. KeyCorp began coverage on shares of GitLab in a research report on Tuesday, March 19th. They set an “overweight” rating and a $70.00 target price on the stock. Scotiabank upped their price target on shares of GitLab from $60.00 to $70.00 and gave the company a “sector outperform” rating in a report on Tuesday, December 5th. DA Davidson cut their price target on shares of GitLab from $75.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, March 5th. Finally, Truist Financial upped their price target on shares of GitLab from $75.00 to $80.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $69.19.

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.