The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Gitlab Inc shares valued at $894,576 were sold by ROBINS BRIAN G on Sep 09 ’24. At $53.67 per share, ROBINS BRIAN G sold 16,668 shares. The insider’s holdings dropped to 250,109 shares worth approximately $13.83 million following the completion of this transaction.
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Also, BLASING KAREN sold 3,250 shares, netting a total of over 146,250 in proceeds. Following the sale of shares at $45.00 each, the insider now holds 147,733 shares.
Before that, KAREN BLASING had added 10,930 shares to its account. In a trade valued at $489,664, the Director bought Gitlab Inc shares for $44.80 each.
As published in a research note from BofA Securities on August 27, 2024, Gitlab Inc [GTLB] has been retained to a Buy and the price target has been revised to $66. Analysts at Robert W. Baird started covering the stock with ‘”an Outperform”‘ outlook in a report released in late August. As of April 12, 2024, Raymond James has increased its “Mkt perform” rating to a “an Outperform” for GTLB. Earlier on April 09, 2024, Wells Fargo initiated its rating. Their recommendation was “an Overweight” for GTLB stock.
Analyzing GTLB Stock Performance
During the last five days, there has been a surge of approximately 1.73%. Over the course of the year, Gitlab Inc shares have dropped approximately -12.18%. Shares of the company reached a 52-week high of $78.53 on 02/09/24 and a 52-week low of $40.72 on 08/08/24. A 50-day SMA is recorded $49.32, while a 200-day SMA reached $56.27. Nevertheless, trading volume fell to 1.52 million shares from 2.4 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 54.25, which, if violated, would cause prices to drop to 53.22. In the upper region, resistance lies at 56.48. The next price resistance is at 57.68. RSI (Relative Strength Index) is 62.35 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 4.87, which suggests the price will increase in the coming days. Percent R is at 12.98%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
