GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing Sells 3,250 Shares

GitLab Inc. (NASDAQ:GTLBGet Free Report) Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $58.99, for a total value of $191,717.50. Following the transaction, the director now directly owns 134,733 shares in the company, valued at approximately $7,947,899.67. This represents a 2.36 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Karen Blasing also recently made the following trade(s):

  • On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $59.41, for a total value of $193,082.50.
  • On Tuesday, October 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $54.72, for a total value of $177,840.00.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $55.66 on Friday. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The company has a market cap of $9.03 billion, a PE ratio of -173.94 and a beta of 0.54. The business has a 50-day simple moving average of $59.55 and a two-hundred day simple moving average of $52.66.

Analyst Ratings Changes

GTLB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of GitLab from $60.00 to $65.00 and gave the company a “neutral” rating in a research note on Friday, December 6th. Canaccord Genuity Group boosted their price objective on shares of GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Piper Sandler raised their target price on shares of GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Bank of America boosted their price target on GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Robert W. Baird raised their price objective on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.42.

View Our Latest Stock Report on GitLab

Hedge Funds Weigh In On GitLab

Hedge funds and other institutional investors have recently modified their holdings of the stock. Future Financial Wealth Managment LLC acquired a new position in GitLab during the 3rd quarter valued at approximately $52,000. True Wealth Design LLC purchased a new stake in shares of GitLab during the third quarter valued at $56,000. Rakuten Securities Inc. increased its position in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after acquiring an additional 1,032 shares during the period. Quarry LP raised its stake in GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in GitLab during the 3rd quarter worth about $96,000. 95.04% of the stock is owned by hedge funds and other 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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