GitLab Inc. (NASDAQ:GTLB - Get Free Report) CFO Brian G. Robins sold 60,000 shares of the company's stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $56.08, for a total transaction of $3,364,800.00. Following the completion of the transaction, the chief financial officer now directly owns 346,146 shares in the company, valued at approximately $19,411,867.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
GitLab Stock Up 2.4 %
Shares of GitLab stock opened at $56.51 on Thursday. The firm has a market capitalization of $8.80 billion, a P/E ratio of -20.55 and a beta of 0.45. GitLab Inc. has a 52 week low of $26.24 and a 52 week high of $78.53. The firm's 50 day moving average is $65.74 and its two-hundred day moving average is $57.11.
GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Monday, March 4th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.08 by $0.07. The company had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. The firm's revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.26) earnings per share. As a group, research analysts expect that GitLab Inc. will post -0.96 earnings per share for the current fiscal year.
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GTLB has been the topic of a number of recent research reports. Mizuho cut their price target on shares of GitLab from $87.00 to $75.00 and set a "buy" rating on the stock in a research note on Tuesday, March 5th. Royal Bank of Canada reiterated an "outperform" rating and set a $80.00 price target on shares of GitLab in a research note on Tuesday, March 5th. Canaccord Genuity Group reiterated a "buy" rating and set a $74.00 price target on shares of GitLab in a research note on Tuesday, March 5th. KeyCorp initiated coverage on shares of GitLab in a research note on Tuesday, March 19th. They set an "overweight" rating and a $70.00 price target on the stock. Finally, Wolfe Research upgraded shares of GitLab from a "peer perform" rating to an "outperform" rating and set a $75.00 price target on the stock in a research note on Wednesday, March 6th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.80.
Check Out Our Latest Stock Analysis on GitLab
Institutional Investors Weigh In On GitLab
Several large investors have recently modified their holdings of the company. Quadrature Capital Ltd acquired a new stake in shares of GitLab in the fourth quarter valued at approximately $905,000. Vanguard Group Inc. boosted its holdings in shares of GitLab by 12.9% in the fourth quarter. Vanguard Group Inc. now owns 9,388,440 shares of the company's stock valued at $591,096,000 after acquiring an additional 1,070,994 shares during the period. Wellington Management Group LLP boosted its holdings in shares of GitLab by 25.8% in the fourth quarter. Wellington Management Group LLP now owns 791,356 shares of the company's stock valued at $49,824,000 after acquiring an additional 162,369 shares during the period. Tucker Asset Management LLC acquired a new stake in shares of GitLab in the fourth quarter valued at approximately $83,000. Finally, Quarry LP boosted its holdings in shares of GitLab by 75.1% in the fourth quarter. Quarry LP now owns 1,166 shares of the company's stock valued at $73,000 after acquiring an additional 500 shares during the period. 91.72% of the stock is owned by institutional investors and hedge funds.
GitLab Company Profile
(
Get Free Report)
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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