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

GitLab Inc. (NASDAQ:GTLB) Director Susan L. Bostrom sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 31st. The stock was sold at an average price of $56.26, for a total value of $1,125,200.00. Following the transaction, the director now owns 184,913 shares of the company’s stock, valued at $10,403,205.38. This trade represents a 9.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

GitLab Trading Up 6.0 %

GitLab stock opened at $59.76 on Friday. The firm has a market capitalization of $9.70 billion, a P/E ratio of -186.75 and a beta of 0.54. The business has a 50-day moving average of $60.38 and a 200-day moving average of $53.71. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $78.53.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on GTLB shares. Macquarie assumed coverage on GitLab in a report on Thursday, December 12th. They set an “outperform” rating and a $90.00 price objective for the company. Robert W. Baird lifted their price target on shares of GitLab from $62.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Truist Financial restated a “buy” rating and issued a $90.00 price target (up from $80.00) on shares of GitLab in a research report on Friday, December 6th. Morgan Stanley raised their price objective on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, Mizuho boosted their target price on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $76.42.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC bought a new position in shares of GitLab during the third quarter worth $52,000. True Wealth Design LLC acquired a new stake in GitLab during the 3rd quarter worth $56,000. Rakuten Securities Inc. lifted its holdings in GitLab by 268.1% during the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock worth $73,000 after acquiring an additional 1,032 shares in the last quarter. Quarry LP grew its stake in GitLab by 527.0% in the second quarter. Quarry LP now owns 1,787 shares of the company’s stock valued at $89,000 after acquiring an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in shares of GitLab in the third quarter worth about $96,000. 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.