Karen Blasing Sells 3,250 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director owned 107,139 shares of the company's stock, valued at $4,821,255. The trade was a 2.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Karen Blasing also recently made the following trade(s):

• On Friday, June 27th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $45.00, for a total value of $146,250.00.
• On Thursday, May 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $51.58, for a total value of $167,635.00.
• On Wednesday, April 23rd, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00.

GitLab Price Performance

Shares of GTLB traded down $0.45 on Monday, reaching $44.92. The company's stock had a trading volume of 3,215,726 shares, compared to its average volume of 2,867,083. The stock has a market capitalization of $7.42 billion, a P/E ratio of 449.20 and a beta of 0.74. The stock's 50 day simple moving average is $45.94 and its two-hundred day simple moving average is $52.36. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS 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 during the quarter, compared to analyst estimates of $213.21 million. During the same period in the previous year, the firm earned $0.03 earnings per share. GitLab's quarterly revenue was up 26.8% compared to the same quarter last year. Analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

Institutional Investors Weigh In On GitLab

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Barton Investment Management grew its stake in GitLab by 28.4% in the second quarter. Barton Investment Management now owns 564,183 shares of the company's stock valued at $25,450,000 after purchasing an additional 124,930 shares in the last quarter. Truist Financial Corp lifted its stake in shares of GitLab by 15.2% in the 2nd quarter. Truist Financial Corp now owns 24,084 shares of the company's stock valued at $1,086,000 after purchasing an additional 3,186 shares during the period. Sterling Investment Advisors Ltd. raised its stake in GitLab by 4.8% during the 2nd quarter. Sterling Investment Advisors Ltd. now owns 29,391 shares of the company's stock worth $1,326,000 after buying an additional 1,358 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of GitLab by 14.9% in the 2nd quarter. Janney Montgomery Scott LLC now owns 48,879 shares of the company's stock valued at $2,205,000 after acquiring an additional 6,327 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC bought a new stake in shares of GitLab during the second quarter worth approximately $2,140,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently issued reports on GTLB shares. The Goldman Sachs Group restated a "neutral" rating and issued a $50.00 target price on shares of GitLab in a report on Tuesday, June 24th. Canaccord Genuity Group cut their price objective on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Morgan Stanley raised their price target on GitLab from $53.00 to $56.00 and gave the stock an "overweight" rating in a research report on Wednesday, June 11th. JPMorgan Chase & Co. lowered their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Finally, BTIG Research lowered their target price on GitLab from $86.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Five research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $62.63.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.