In a filing, Gitlab Inc revealed its Chief Financial Officer ROBINS BRIAN G unloaded Company’s shares for reported $3.37 million on Apr 01 ’24. In the deal valued at $56.08 per share,60,000 shares were sold. As a result of this transaction, ROBINS BRIAN G now holds 346,146 shares worth roughly $20.28 million.
Then, Bedi Sundeep sold 9,000 shares, generating $527,770 in total proceeds. Upon selling the shares at $58.64, the Director now owns 8,369 shares.
Before that, Schulman Robin sold 2,425 shares. Gitlab Inc shares valued at $142,469 were divested by the Chief Legal Officer & Corp Sec at a price of $58.75 per share. As a result of the transaction, Schulman Robin now holds 55,150 shares, worth roughly $3.23 million.
CapitalOne initiated its Gitlab Inc [GTLB] rating to an Overweight in a research note published on March 22, 2024; the price target was $72. A number of analysts have revised their coverage, including KeyBanc Capital Markets’s analysts, who began to cover the stock in mid March with a ‘”an Overweight”‘ rating. Wolfe Research also remained covering GTLB and has increased its forecast on March 06, 2024 with a “an Outperform” recommendation from previously “Peer perform” rating. Mizuho revised its rating on January 08, 2024. It rated GTLB as “a Buy” which previously was an “a Neutral”.
Price Performance Review of GTLB
On Monday, Gitlab Inc [NASDAQ:GTLB] saw its stock jump 3.94% to $58.60. Over the last five days, the stock has gained 5.49%. Gitlab Inc shares have fallen nearly -6.93% since the year began. Nevertheless, the stocks have risen 75.76% over the past one year. While a 52-week high of $78.53 was reached on 02/09/24, a 52-week low of $26.24 was recorded on 03/15/24. SMA at 50 days reached $65.14, while 200 days put it at $54.42. A total of 1.18 million shares were traded, compared to the trading of 1.52 million shares in the previous session.
Levels Of Support And Resistance For GTLB Stock
The 24-hour chart illustrates a support level at 57.13, which if violated will result in even more drops to 55.65. On the upside, there is a resistance level at 59.36. A further resistance level may holdings at 60.11. The Relative Strength Index (RSI) on the 14-day chart is 47.29, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.32, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 28.02%. Stochastics %K at 53.24% indicates the stock is a holding.
How much short interest is there in Gitlab Inc?
A steep rise in short interest was recorded in Gitlab Inc stocks on Mar 15, 2024, dropping by -1.12 million shares to a total of 3.2 million shares. Yahoo Finance data shows the prior-month short interest on Feb 15, 2024 was 4.32 million shares. There was a decline of -35.0%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 2.63% of the overall stock float, the days-to-cover ratio (short ratio) fell to 0.78.
The most recent change occurred on November 29, 2023 when Raymond James began covering the stock and recommended ‘”a Mkt perform”‘ rating .
