Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Gitlab Inc shares valued at $830,406 were sold by ROBINS BRIAN G on Oct 01 ’24. At $49.83 per share, ROBINS BRIAN G sold 16,666 shares. The insider’s holdings dropped to 242,803 shares worth approximately $11.84 million following the completion of this transaction.
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Also, BRIAN ROBINS purchased 43,332 shares, netting a total of over 2,233,331 in proceeds.
Before that, Mannix Erin had sold 1,433 shares from its account. In a trade valued at $75,662, the Chief Accounting Officer traded Gitlab Inc shares for $52.80 each. Upon closing the transaction, the insider’s holdings decreased to 1,433 shares, worth approximately $3.53 million.
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 drop of approximately -5.15%. Over the course of the year, Gitlab Inc shares have dropped approximately -22.55%. 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 $49.19, while a 200-day SMA reached $55.95. Nevertheless, trading volume fell to 1.15 million shares from 1.16 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 48.17, which, if violated, would cause prices to drop to 47.59. In the upper region, resistance lies at 49.70. The next price resistance is at 50.65. RSI (Relative Strength Index) is 42.65 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.95, which suggests the price will decrease in the coming days. Percent R is at 96.12%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
