Matthew Jacobson Sells 152,884 Shares of GitLab Inc. (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Matthew Jacobson sold 152,884 shares of GitLab stock in a transaction on Monday, March 24th. The stock was sold at an average price of $52.34, for a total value of $8,001,948.56. Following the transaction, the director now directly owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Matthew Jacobson also recently made the following trade(s):

• On Thursday, December 26th, Matthew Jacobson sold 547,679 shares of GitLab stock. The stock was sold at an average price of $59.72, for a total value of $32,707,389.88.

GitLab Price Performance

Shares of GTLB stock opened at $50.18 on Friday. The company’s fifty day moving average price is $61.99 and its two-hundred day moving average price is $59.20. The firm has a market capitalization of $8.14 billion, a P/E ratio of -156.81 and a beta of 0.67. GitLab Inc. has a 12 month low of $40.72 and a 12 month high of $74.18.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in shares of GitLab by 8.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 751,415 shares of the company’s stock valued at $38,728,000 after buying an additional 57,381 shares during the last quarter. Cerity Partners LLC boosted its stake in GitLab by 772.3% during the 3rd quarter. Cerity Partners LLC now owns 56,307 shares of the company’s stock valued at $2,902,000 after acquiring an additional 49,852 shares during the last quarter. Bank of Montreal Can grew its holdings in GitLab by 360.4% during the 3rd quarter. Bank of Montreal Can now owns 59,200 shares of the company’s stock worth $3,058,000 after acquiring an additional 46,343 shares in the last quarter. Qsemble Capital Management LP increased its position in shares of GitLab by 41.7% in the 3rd quarter. Qsemble Capital Management LP now owns 23,256 shares of the company’s stock worth $1,199,000 after purchasing an additional 6,846 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its stake in shares of GitLab by 5.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 29,377 shares of the company’s stock valued at $1,514,000 after purchasing an additional 1,417 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GTLB. JPMorgan Chase & Co. dropped their price target on GitLab from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Royal Bank of Canada reissued an “outperform” rating and issued a $80.00 target price on shares of GitLab in a research note on Tuesday, March 4th. KeyCorp raised their price target on shares of GitLab from $74.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Macquarie reiterated an “outperform” rating and set a $90.00 price target on shares of GitLab in a report on Tuesday, March 4th. Finally, DA Davidson reduced their price objective on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and an average price target of $75.52.

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.