GitLab Inc. (NASDAQ:GTLB) Director Sells $60,884.82 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Merline Saintil sold 1,182 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $51.51, for a total value of $60,884.82. Following the completion of the transaction, the director now owns 9,902 shares in the company, valued at $510,052.02. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Merline Saintil also recently made the following trade(s):

• On Wednesday, June 26th, Merline Saintil sold 1,329 shares of GitLab stock. The stock was sold at an average price of $44.28, for a total transaction of $58,848.12.

GitLab Trading Up 1.0 %

GTLB opened at $50.70 on Thursday. The stock has a 50-day moving average of $50.27 and a 200 day moving average of $58.46. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53. The firm has a market cap of $8.06 billion, a P/E ratio of -18.44 and a beta of 0.46.

GitLab (NASDAQ:GTLB) last announced its earnings results on Monday, June 3rd. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.09. GitLab had a negative return on equity of 19.14% and a negative net margin of 68.52%. The firm had revenue of $169.19 million during the quarter, compared to analysts’ expectations of $165.66 million. On average, research analysts forecast that GitLab Inc. will post -0.5 earnings per share for the current fiscal year.

Analyst Ratings Changes

GTLB has been the subject of a number of research reports. Wells Fargo & Company initiated coverage on shares of GitLab in a report on Tuesday, April 9th. They set an “overweight” rating and a $70.00 target price for the company. Truist Financial reissued a “buy” rating and issued a $80.00 target price on shares of GitLab in a report on Monday, April 1st. KeyCorp dropped their price target on shares of GitLab from $70.00 to $62.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Capital One Financial began coverage on GitLab in a report on Friday, March 22nd. They set an “overweight” rating and a $72.00 price target on the stock. Finally, Cantor Fitzgerald dropped their price objective on GitLab from $70.00 to $55.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, GitLab currently has an average rating of “Moderate Buy” and an average price target of $67.30.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GTLB. Byrne Asset Management LLC bought a new position in GitLab during the 1st quarter valued at about $33,000. Allspring Global Investments Holdings LLC grew its stake in shares of GitLab by 2,107.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company’s stock valued at $33,000 after buying an additional 548 shares during the last quarter. Ramirez Asset Management Inc. purchased a new stake in shares of GitLab in the third quarter worth approximately $36,000. Banque Cantonale Vaudoise bought a new stake in shares of GitLab during the 1st quarter worth approximately $58,000. Finally, Future Financial Wealth Managment LLC purchased a new position in GitLab during the 1st quarter valued at $58,000. Institutional investors own 91.72% 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.