GitLab Inc. (NASDAQ:GTLB - Get Free Report) CFO Brian G. Robins sold 16,666 shares of GitLab stock in a transaction on Friday, November 1st. The stock was sold at an average price of $56.74, for a total value of $945,628.84. Following the completion of the sale, the chief financial officer now directly owns 242,803 shares of the company's stock, valued at $13,776,642.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ:GTLB traded down $0.95 during mid-day trading on Monday, reaching $55.99. The stock had a trading volume of 1,171,466 shares, compared to its average volume of 2,364,314. The company has a market cap of $8.99 billion, a P/E ratio of -23.96 and a beta of 0.44. GitLab Inc. has a 1 year low of $40.19 and a 1 year high of $78.53. The business's 50 day moving average price is $52.40 and its 200 day moving average price is $50.85.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, September 3rd. The company reported $0.15 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.05. GitLab had a negative return on equity of 15.40% and a negative net margin of 54.62%. The company had revenue of $182.58 million for the quarter, compared to the consensus estimate of $176.86 million. During the same period in the previous year, the business earned ($0.29) earnings per share. The firm's revenue for the quarter was up 30.8% on a year-over-year basis. Analysts predict that GitLab Inc. will post -0.41 earnings per share for the current fiscal year.

Large investors have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC increased its stake in GitLab by 2,107.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 574 shares of the company's stock worth $33,000 after acquiring an additional 548 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in GitLab during the 3rd quarter valued at $52,000. Quarry LP boosted its holdings in GitLab by 527.0% during the 2nd quarter. Quarry LP now owns 1,787 shares of the company's stock valued at $89,000 after acquiring an additional 1,502 shares during the period. Capital Performance Advisors LLP purchased a new position in GitLab during the 3rd quarter valued at $96,000. Finally, Canton Hathaway LLC boosted its holdings in GitLab by 26.3% during the 2nd quarter. Canton Hathaway LLC now owns 2,086 shares of the company's stock valued at $104,000 after acquiring an additional 435 shares during the period. 91.72% of the stock is owned by institutional investors.

Several brokerages recently commented on GTLB. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $55.00 price objective on shares of GitLab in a report on Monday, August 19th. Morgan Stanley began coverage on GitLab in a report on Wednesday, October 9th. They set an "overweight" rating and a $70.00 price target for the company. Bank of America boosted their price target on GitLab from $66.00 to $68.00 and gave the company a "buy" rating in a report on Wednesday, September 4th. Barclays boosted their price target on GitLab from $50.00 to $55.00 and gave the company an "equal weight" rating in a report on Thursday, September 5th. Finally, DA Davidson reissued a "neutral" rating and set a $50.00 price target on shares of GitLab in a report on Monday, October 14th. Three research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, GitLab currently has a consensus rating of "Moderate Buy" and a consensus price target of $66.38.

View Our Latest Stock Analysis on GTLB

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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