GitLab Inc. (NASDAQ:GTLB – Get Free Report) CAO Erin Mannix sold 1,433 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $52.80, for a total value of $75,662.40. Following the transaction, the chief accounting officer now owns 72,448 shares in the company, valued at $3,825,254.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Erin Mannix also recently made the following trade(s):
- On Monday, July 1st, Erin Mannix sold 444 shares of GitLab stock. The shares were sold at an average price of $48.61, for a total value of $21,582.84.
- On Thursday, June 27th, Erin Mannix sold 494 shares of GitLab stock. The shares were sold at an average price of $50.00, for a total value of $24,700.00.
GitLab Stock Performance
GTLB traded up $1.13 during trading on Monday, reaching $53.18. The company had a trading volume of 2,154,324 shares, compared to its average volume of 2,535,781. The firm’s 50-day simple moving average is $49.35 and its 200 day simple moving average is $51.64. The company has a market cap of $8.45 billion, a price-to-earnings ratio of -18.93 and a beta of 0.44. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53.
Wall Street Analyst Weigh In
A number of equities research analysts have issued reports on GTLB shares. Royal Bank of Canada raised their target price on GitLab from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Baird R W upgraded GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. Mizuho lowered their price target on GitLab from $70.00 to $62.00 and set a “buy” rating on the stock in a report on Tuesday, June 4th. Robert W. Baird raised their price target on GitLab from $59.00 to $62.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Needham & Company LLC reissued a “hold” rating on shares of GitLab in a report on Wednesday, September 4th. Four investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.05.
Check Out Our Latest Stock Report on GitLab
Institutional Investors Weigh In On GitLab
A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in GitLab by 12.9% during the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock worth $591,096,000 after acquiring an additional 1,070,994 shares during the period. Capital Research Global Investors lifted its holdings in shares of GitLab by 78.5% during the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock valued at $410,597,000 after buying an additional 3,096,437 shares during the last quarter. Fiera Capital Corp lifted its holdings in shares of GitLab by 1.2% during the 2nd quarter. Fiera Capital Corp now owns 1,242,468 shares of the company’s stock valued at $61,776,000 after buying an additional 14,687 shares during the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of GitLab during the 4th quarter valued at about $76,918,000. Finally, Renaissance Technologies LLC lifted its holdings in shares of GitLab by 168.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,190,582 shares of the company’s stock valued at $59,196,000 after buying an additional 747,712 shares during the last quarter. 91.72% of the stock is currently owned by institutional investors and hedge funds.
About GitLab
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.
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