GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $43.33, for a total transaction of $4,705,638.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Sytse Sijbrandij also recently made the following trade(s):
- On Monday, June 16th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The shares were sold at an average price of $41.44, for a total transaction of $4,500,384.00.
- On Wednesday, May 14th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The shares were sold at an average price of $53.03, for a total transaction of $5,759,058.00.
GitLab Trading Up 3.2%
Shares of GTLB stock traded up $1.35 on Thursday, reaching $43.92. The company had a trading volume of 3,019,617 shares, compared to its average volume of 2,862,521. The company has a 50-day moving average of $46.13 and a 200-day moving average of $52.58. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock has a market cap of $7.26 billion, a PE ratio of 439.20 and a beta of 0.74.
GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating the consensus estimate of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%. The firm had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same quarter in the previous year, the company posted $0.03 earnings per share. The company's quarterly revenue was up 26.8% on a year-over-year basis. Sell-side analysts anticipate that GitLab Inc. will post -0.31 earnings per share for the current year.
Institutional Investors Weigh In On GitLab
Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC lifted its position in shares of GitLab by 9,968.3% during the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock valued at $2,030,000 after acquiring an additional 42,764 shares during the period. Swiss National Bank grew its stake in GitLab by 3.7% in the 4th quarter. Swiss National Bank now owns 215,000 shares of the company's stock valued at $12,115,000 after buying an additional 7,700 shares during the last quarter. Park Avenue Securities LLC lifted its holdings in GitLab by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after purchasing an additional 381 shares during the last quarter. Wealthcare Advisory Partners LLC grew its position in shares of GitLab by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after buying an additional 1,065 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new position in GitLab in the first quarter valued at approximately $200,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently issued reports on GTLB. JPMorgan Chase & Co. cut their price objective on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $62.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $50.00 price objective on shares of GitLab in a research report on Tuesday, June 24th. Rosenblatt Securities initiated coverage on GitLab in a research report on Tuesday. They issued a "buy" rating and a $58.00 price target for the company. Finally, Barclays reduced their price target on GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research report on Wednesday, June 11th. Five research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $62.63.
Read Our Latest Report on GTLB
About GitLab
(
Get Free Report)
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.
Further Reading
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