GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij Sells 108,600 Shares

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.44, for a total transaction of $4,500,384.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Sytse Sijbrandij also recently made the following trade(s):

• On Wednesday, May 14th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The stock was sold at an average price of $53.03, for a total transaction of $5,759,058.00.
• On Tuesday, April 15th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The stock was sold at an average price of $42.87, for a total transaction of $4,655,682.00.

GitLab Trading Up 0.4%

Shares of GTLB opened at $42.04 on Thursday. The firm's 50-day moving average is $46.31 and its two-hundred day moving average is $54.95. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The firm has a market capitalization of $6.89 billion, a P/E ratio of 420.40 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The company had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. During the same period in the prior year, the business posted $0.03 earnings per share. The firm's revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Analyst Upgrades and Downgrades

GTLB has been the subject of several recent analyst reports. Needham & Company LLC decreased their price objective on shares of GitLab from $85.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Morgan Stanley boosted their price target on shares of GitLab from $53.00 to $56.00 and gave the company an "overweight" rating in a research report on Wednesday, June 11th. Mizuho reduced their price target on shares of GitLab from $72.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Wells Fargo & Company reduced their price target on shares of GitLab from $65.00 to $60.00 and set an "overweight" rating for the company in a research report on Wednesday, June 11th. Finally, Raymond James Financial reduced their price target on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Four research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.59.

Institutional Trading of GitLab

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of GitLab by 9,968.3% during the first quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock valued at $2,030,000 after buying an additional 42,764 shares during the period. Swiss National Bank lifted its stake in shares of GitLab by 3.7% during the fourth 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 period. Park Avenue Securities LLC lifted its stake in shares of GitLab by 5.3% during the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after buying an additional 381 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after buying an additional 1,153 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its stake in GitLab by 19.3% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after purchasing an additional 1,065 shares during the period. Hedge funds and other institutional investors own 95.04% 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.

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