GitLab (NASDAQ:GTLB) CAO Sells $228,352.09 in Stock

GitLab Inc. (NASDAQ:GTLB) CAO Simon Mundy sold 5,191 shares of the business’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total value of $228,352.09. Following the completion of the sale, the chief accounting officer owned 53,507 shares of the company’s stock, valued at $2,353,772.93. This trade represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

GitLab Price Performance

GitLab stock opened at $46.91 on Friday. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock has a market capitalization of $7.82 billion, a PE ratio of -1,172.75 and a beta of 0.73. The business has a 50 day simple moving average of $45.99 and a 200-day simple moving average of $45.96.

Hedge Funds Weigh In On GitLab

Hedge funds have recently bought and sold shares of the company. Cullen Frost Bankers Inc. lifted its stake in GitLab by 174.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock worth $25,000 after acquiring an additional 334 shares in the last quarter. Twin Tree Management LP acquired a new position in GitLab during the 1st quarter worth about $29,000. Cloud Capital Management LLC acquired a new position in GitLab during the 1st quarter worth about $29,000. Harbour Investments Inc. lifted its stake in GitLab by 447.6% during the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after acquiring an additional 734 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in GitLab by 114.2% during the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock worth $43,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several research reports. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price target on shares of GitLab in a research report on Thursday, September 4th. Capital One Financial cut GitLab from an “overweight” rating to an “equal weight” rating and set a $46.00 price target for the company. in a research report on Wednesday, July 16th. Wells Fargo & Company initiated coverage on GitLab in a research report on Tuesday. They set an “equal weight” rating and a $50.00 price target for the company. Macquarie reiterated an “outperform” rating and set a $75.00 price target on shares of GitLab in a research report on Thursday, September 4th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of GitLab in a research report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $58.67.

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.