GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins Sells 16,668 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) CFO Brian G. Robins sold 16,668 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $53.67, for a total value of $894,571.56. Following the completion of the sale, the chief financial officer now directly owns 250,109 shares of the company’s stock, valued at $13,423,350.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GitLab Stock Down 1.6 %

GTLB stock opened at $55.29 on Thursday. The company’s 50-day moving average price is $49.23 and its two-hundred day moving average price is $52.58. The firm has a market cap of $8.79 billion, a P/E ratio of -20.11 and a beta of 0.44. GitLab Inc. has a 12 month low of $40.19 and a 12 month high of $78.53.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, September 3rd. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.05. GitLab had a negative net margin of 54.62% and a negative return on equity of 15.40%. The business had revenue of $182.58 million for the quarter, compared to analysts’ expectations of $176.86 million. During the same period last year, the firm posted ($0.29) earnings per share. The firm’s quarterly revenue was up 30.8% compared to the same quarter last year. Equities analysts predict that GitLab Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Baird R W upgraded GitLab to a “strong-buy” rating in a research note on Tuesday, August 27th. Needham & Company LLC restated a “hold” rating on shares of GitLab in a research note on Wednesday, September 4th. Robert W. Baird lifted their target price on shares of GitLab from $59.00 to $62.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Bank of America increased their price target on shares of GitLab from $66.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, September 4th. Finally, Wells Fargo & Company boosted their price objective on GitLab from $70.00 to $75.00 and gave the stock an “overweight” rating in a report on Wednesday, September 4th. Four equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.87.

Hedge Funds Weigh In On GitLab

Institutional investors have recently modified their holdings of the business. Natixis Advisors L.P. grew its position in GitLab by 36.9% in the fourth quarter. Natixis Advisors L.P. now owns 16,142 shares of the company’s stock valued at $1,016,000 after acquiring an additional 4,353 shares during the last quarter. Amalgamated Bank grew its holdings in shares of GitLab by 2.6% during the 4th quarter. Amalgamated Bank now owns 19,236 shares of the company’s stock valued at $1,211,000 after purchasing an additional 488 shares during the last quarter. M&T Bank Corp acquired a new position in GitLab during the 4th quarter worth approximately $271,000. Charles Schwab Investment Management Inc. lifted its stake in GitLab by 10.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 531,731 shares of the company’s stock valued at $33,478,000 after purchasing an additional 51,612 shares during the last quarter. Finally, Versor Investments LP acquired a new stake in GitLab in the fourth quarter valued at approximately $354,000. Institutional investors and hedge funds own 91.72% of the company’s stock.

About GitLab

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.