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 firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $63.19, for a total transaction of $410,735.00. Following the sale, the director now directly owns 128,233 shares in the company, valued at $8,103,043.27. The trade was a 4.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 shares were sold at an average price of $58.99, for a total transaction of $191,717.50.
• On Friday, November 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $59.41, for a total transaction of $193,082.50.

GitLab Trading Down 1.8 %

Shares of GTLB opened at $63.02 on Friday. The firm has a 50-day moving average price of $61.30 and a 200 day moving average price of $54.79. GitLab Inc. has a 12-month low of $40.72 and a 12-month high of $78.53. The firm has a market capitalization of $10.23 billion, a P/E ratio of -196.94 and a beta of 0.57.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley lifted their price target on GitLab from $70.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Mizuho upped their target price on GitLab from $67.00 to $80.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. Truist Financial reissued a “buy” rating and issued a $90.00 price target (up previously from $80.00) on shares of GitLab in a research note on Friday, December 6th. Barclays upped their price objective on shares of GitLab from $55.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Monday, December 9th. Finally, TD Cowen lifted their target price on shares of GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, November 21st. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $76.42.

Institutional Trading of GitLab

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of Marin lifted its holdings in GitLab by 3.0% in the third quarter. Bank of Marin now owns 5,856 shares of the company’s stock valued at $302,000 after acquiring an additional 171 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its position in GitLab by 0.3% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock valued at $4,713,000 after purchasing an additional 281 shares during the period. Glenmede Trust Co. NA lifted its stake in shares of GitLab by 3.0% in the 3rd quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after purchasing an additional 334 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of GitLab by 18.2% during the 3rd quarter. Blue Trust Inc. now owns 3,166 shares of the company’s stock worth $157,000 after purchasing an additional 488 shares during the period. Finally, Blair William & Co. IL increased its position in shares of GitLab by 1.9% during the 2nd quarter. Blair William & Co. IL now owns 42,151 shares of the company’s stock worth $2,096,000 after purchasing an additional 769 shares during the last quarter. Institutional investors and hedge funds own 95.04% 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.