GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing Sells 6,500 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 6,500 shares of GitLab stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total transaction of $410,735.00. Following the completion of the transaction, the director now directly owns 128,233 shares of the company’s stock, valued at approximately $8,103,043.27. This represents a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, December 16th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $58.99, for a total transaction of $191,717.50.
• 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 transaction of $193,082.50.

GitLab Price Performance

GTLB stock opened at $64.20 on Friday. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $78.53. The firm has a 50 day simple moving average of $61.25 and a 200 day simple moving average of $54.71.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GTLB. Royal Bank of Canada lifted their target price on GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a research note on Friday, December 6th. Robert W. Baird upped their price objective on GitLab from $62.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Morgan Stanley raised their target price on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. JPMorgan Chase & Co. upped their price target on shares of GitLab from $60.00 to $65.00 and gave the stock a “neutral” rating in a research report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $85.00 price objective on shares of GitLab in a report on Tuesday, January 7th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $76.42.

Institutional Investors Weigh In On GitLab

Institutional investors and hedge funds have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd acquired a new stake in shares of GitLab during the third quarter worth $678,000. State Street Corp raised its holdings in GitLab by 5.8% during the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock worth $104,740,000 after buying an additional 111,997 shares during the period. Barclays PLC raised its holdings in GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock worth $3,164,000 after buying an additional 40,171 shares during the period. Oddo BHF Asset Management Sas purchased a new stake in GitLab during the third quarter valued at about $6,865,000. Finally, ARK Investment Management LLC acquired a new position in shares of GitLab in the third quarter worth about $13,435,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

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.