GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins Sells 60,000 Shares of Stock

GitLab Inc. (NASDAQ:GTLBGet Free Report) CFO Brian G. Robins sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $56.08, for a total value of $3,364,800.00. Following the sale, the chief financial officer now owns 346,146 shares of the company’s stock, valued at approximately $19,411,867.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

GitLab Stock Up 2.4 %

Shares of GTLB opened at $56.51 on Thursday. GitLab Inc. has a 12-month low of $26.24 and a 12-month high of $78.53. The firm has a market capitalization of $8.80 billion, a price-to-earnings ratio of -20.55 and a beta of 0.45. The stock’s 50-day moving average price is $65.74 and its 200 day moving average price is $57.11.

GitLab (NASDAQ:GTLBGet Free Report) last released its quarterly earnings data on Monday, March 4th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.07. GitLab had a negative return on equity of 18.26% and a negative net margin of 73.14%. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. During the same period in the prior year, the company posted ($0.26) EPS. The company’s revenue was up 33.3% compared to the same quarter last year. Equities research analysts expect that GitLab Inc. will post -0.96 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 price target on shares of GitLab in a report on Tuesday, March 5th. KeyCorp assumed coverage on GitLab in a report on Tuesday, March 19th. They issued an “overweight” rating and a $70.00 target price on the stock. Truist Financial reiterated a “buy” rating and set a $80.00 price target on shares of GitLab in a report on Monday. Mizuho reduced their price objective on GitLab from $87.00 to $75.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, Cantor Fitzgerald reduced their price objective on GitLab from $80.00 to $70.00 and set an “overweight” rating for the company in a research report on Tuesday, March 5th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $70.80.

Check Out Our Latest Report on GitLab

Institutional Investors Weigh In On GitLab

Large investors have recently modified their holdings of the stock. Invesco Ltd. grew its stake in shares of GitLab by 71.3% in the 3rd quarter. Invesco Ltd. now owns 4,236,833 shares of the company’s stock valued at $191,590,000 after purchasing an additional 1,762,944 shares during the period. Wellington Management Group LLP boosted its holdings in shares of GitLab by 280.3% in the 3rd quarter. Wellington Management Group LLP now owns 628,987 shares of the company’s stock worth $28,443,000 after acquiring an additional 463,584 shares in the last quarter. Polar Capital Holdings Plc acquired a new position in shares of GitLab in the 3rd quarter worth approximately $7,558,000. Black Swift Group LLC acquired a new position in shares of GitLab in the 4th quarter worth approximately $1,574,000. Finally, Vanguard Group Inc. boosted its holdings in shares of GitLab by 6.8% in the 3rd quarter. Vanguard Group Inc. now owns 8,317,446 shares of the company’s stock worth $376,115,000 after acquiring an additional 530,702 shares in the last quarter. 91.72% of the stock is currently owned by institutional investors.

About GitLab

(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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Insider Buying and Selling by Quarter for GitLab (NASDAQ:GTLB)

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