Karen Blasing Sells 6,500 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Karen Blasing sold 6,500 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total value of $410,735.00. Following the completion of the transaction, the director now directly owns 128,233 shares in the company, valued at approximately $8,103,043.27. This trade represents a 4.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Monday, December 16th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $58.99, for a total value of $191,717.50.
• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $59.41, for a total value of $193,082.50.

GitLab Stock Performance

GitLab stock opened at $63.02 on Friday. GitLab Inc. has a fifty-two week low of $40.72 and a fifty-two week high of $78.53. The company has a market cap of $10.23 billion, a PE ratio of -196.94 and a beta of 0.57. The business’s 50-day simple moving average is $61.30 and its two-hundred day simple moving average is $54.79.

Analysts Set New Price Targets

Several brokerages have issued reports on GTLB. Wells Fargo & Company increased their target price on shares of GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Royal Bank of Canada lifted their price objective on shares of GitLab from $73.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, December 6th. Barclays upped their target price on GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a report on Monday, December 9th. Piper Sandler lifted their price target on GitLab from $75.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Finally, Cantor Fitzgerald upped their price objective on GitLab from $75.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and an average target price of $76.42.

Institutional Investors Weigh In On GitLab

Large investors have recently bought and sold shares of the company. Future Financial Wealth Managment LLC acquired a new stake in GitLab during the 3rd quarter valued at approximately $52,000. True Wealth Design LLC purchased a new position in shares of GitLab during the third quarter worth $56,000. Raleigh Capital Management Inc. acquired a new position in GitLab during the fourth quarter valued at $66,000. Rakuten Securities Inc. boosted its holdings in GitLab by 268.1% in the third quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after purchasing an additional 1,032 shares during the last quarter. Finally, Quarry LP grew its position in GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 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.