Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Gitlab Inc shares valued at $3,075,458 were sold by Sijbrandij Sytse on Apr 15 ’24. At $54.92 per share, Sijbrandij Sytse sold 56,000 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
Also, ROBINS BRIAN G sold 60,000 shares, netting a total of over 3,365,038 in proceeds. Following the sale of shares at $56.08 each, the insider now holds 346,146 shares.
Before that, Bedi Sundeep had sold 9,000 shares from its account. In a trade valued at $527,770, the Director traded Gitlab Inc shares for $58.64 each. Upon closing the transaction, the insider’s holdings decreased to 9,000 shares, worth approximately $0.44 million.
As published in a research note from Raymond James on April 12, 2024, Gitlab Inc [GTLB] has been rated up from a Mkt perform to an Outperform and the price target has been revised to $70. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early April. As of March 22, 2024, CapitalOne has initiated its “an Overweight” rating for GTLB. Earlier on March 19, 2024, KeyBanc Capital Markets initiated its rating. Their recommendation was “an Overweight” for GTLB stock.
Analyzing GTLB Stock Performance
During the last five days, there has been a drop of approximately -9.55%. Over the course of the year, Gitlab Inc shares have dropped approximately -16.52%. Shares of the company reached a 52-week high of $78.53 on 02/09/24 and a 52-week low of $52.39 on 04/16/24. A 50-day SMA is recorded $62.55, while a 200-day SMA reached $54.66. Nevertheless, trading volume fell to 1.54 million shares from 1.48 million shares the previous day.
Support And Resistance Levels for Gitlab Inc (GTLB)
According to the 24-hour chart, there is a support level at 51.99, which, if violated, would cause prices to drop to 51.43. In the upper region, resistance lies at 53.54. The next price resistance is at 54.53. RSI (Relative Strength Index) is 33.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.78, which suggests the price will decrease in the coming days. Percent R is at 97.73%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
