Brian G. Robins Sells 10,000 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins sold 10,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the transaction, the chief financial officer now owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

GitLab Price Performance

NASDAQ GTLB opened at $73.14 on Thursday. The company’s 50 day simple moving average is $62.56 and its two-hundred day simple moving average is $56.15. The stock has a market capitalization of $11.87 billion, a PE ratio of -228.56 and a beta of 0.63. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

Institutional Investors Weigh In On GitLab

Several large investors have recently added to or reduced their stakes in the business. Future Financial Wealth Managment LLC bought a new position in GitLab in the 3rd quarter worth about $52,000. True Wealth Design LLC purchased a new stake in GitLab in the third quarter valued at approximately $56,000. Raleigh Capital Management Inc. purchased a new position in GitLab in the 4th quarter worth approximately $66,000. Smartleaf Asset Management LLC increased its holdings in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock worth $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Rakuten Securities Inc. raised its position in shares of GitLab by 268.1% during the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after buying an additional 1,032 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GTLB. Royal Bank of Canada increased their target price on GitLab from $73.00 to $80.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Robert W. Baird raised their price objective on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Mizuho boosted their target price on shares of GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. TD Cowen upped their price target on GitLab from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Finally, Morgan Stanley upped their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Three investment 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 stock. According to MarketBeat, 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.