GitLab Inc. (NASDAQ:GTLB – Get Free Report) CAO Erin Mannix sold 494 shares of the business’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $50.00, for a total value of $24,700.00. Following the completion of the transaction, the chief accounting officer now directly owns 75,776 shares in the company, valued at approximately $3,788,800. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 20th, Erin Mannix sold 494 shares of GitLab stock. The shares were sold at an average price of $42.92, for a total value of $21,202.48.
GitLab Trading Up 3.3 %
GTLB opened at $51.34 on Tuesday. The stock has a 50-day moving average price of $50.68 and a 200-day moving average price of $58.97. GitLab Inc. has a 12-month low of $40.19 and a 12-month high of $78.53. The stock has a market capitalization of $8.16 billion, a P/E ratio of -18.67 and a beta of 0.45.
Wall Street Analyst Weigh In
GTLB has been the topic of several research reports. UBS Group lowered their target price on GitLab from $81.00 to $75.00 and set a “buy” rating on the stock in a research note on Tuesday, March 5th. Wells Fargo & Company started coverage on GitLab in a research note on Tuesday, April 9th. They issued an “overweight” rating and a $70.00 target price on the stock. Cantor Fitzgerald decreased their price objective on GitLab from $70.00 to $55.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. DA Davidson decreased their price objective on GitLab from $65.00 to $50.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 4th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of GitLab in a research note on Tuesday, June 4th. Four analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $67.30.
Check Out Our Latest Research Report on GTLB
Hedge Funds Weigh In On GitLab
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of GitLab by 12.9% in the 4th quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company’s stock worth $591,096,000 after purchasing an additional 1,070,994 shares in the last quarter. Capital Research Global Investors boosted its holdings in shares of GitLab by 78.5% in the 1st quarter. Capital Research Global Investors now owns 7,040,410 shares of the company’s stock worth $410,597,000 after purchasing an additional 3,096,437 shares in the last quarter. Norges Bank purchased a new stake in GitLab during the 4th quarter valued at about $222,591,000. 1832 Asset Management L.P. purchased a new stake in GitLab during the 4th quarter valued at about $76,918,000. Finally, Fiera Capital Corp boosted its holdings in GitLab by 0.5% during the 4th quarter. Fiera Capital Corp now owns 1,199,817 shares of the company’s stock valued at $75,540,000 after acquiring an additional 5,446 shares during the period. 91.72% of the stock is currently owned by hedge funds and other 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.
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