GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom Sells 20,000 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of the stock in a transaction dated Tuesday, December 24th. The stock was sold at an average price of $60.19, for a total transaction of $1,203,800.00. Following the sale, the director now owns 204,913 shares in the company, valued at approximately $12,333,713.47. This trade represents a 8.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $57.97 on Friday. The stock has a market capitalization of $9.41 billion, a price-to-earnings ratio of -181.16 and a beta of 0.54. GitLab Inc. has a 1-year low of $40.72 and a 1-year high of $78.53. The company has a 50 day moving average price of $60.15 and a 200 day moving average price of $53.28.

Wall Street Analyst Weigh In

GTLB has been the subject of several recent research reports. Scotiabank upped their target price on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Bank of America increased their target price on GitLab from $66.00 to $68.00 and gave the stock a “buy” rating in a research report on Wednesday, September 4th. The Goldman Sachs Group boosted their price target on shares of GitLab from $80.00 to $88.00 and gave the company a “buy” rating in a report on Friday, December 6th. Mizuho increased their price objective on shares of GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Finally, Wells Fargo & Company boosted their target price on shares of GitLab from $75.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GitLab has a consensus rating of “Moderate Buy” and a consensus target price of $76.42.

Institutional Investors Weigh In On GitLab

Several large investors have recently modified their holdings of the stock. Bank of Marin lifted its holdings in shares of GitLab by 3.0% during the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after purchasing an additional 171 shares during the last quarter. Moloney Securities Asset Management LLC lifted its stake in GitLab by 4.9% during the second quarter. Moloney Securities Asset Management LLC now owns 6,400 shares of the company’s stock valued at $318,000 after buying an additional 300 shares in the last quarter. Glenmede Trust Co. NA boosted its holdings in shares of GitLab by 3.0% in the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock worth $596,000 after buying an additional 334 shares during the period. Blue Trust Inc. increased its position in shares of GitLab by 18.2% in the third quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after acquiring an additional 488 shares in the last quarter. Finally, Caprock Group LLC raised its holdings in shares of GitLab by 1.9% during the second quarter. Caprock Group LLC now owns 31,272 shares of the company’s stock valued at $1,555,000 after acquiring an additional 586 shares during the period. 95.04% of the stock is owned by institutional investors.

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.