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 $11,816,909 were sold by Sijbrandij Sytse on Nov 19 ’24. At $60.53 per share, Sijbrandij Sytse sold 195,224 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Sijbrandij Sytse sold 84,776 shares, netting a total of over 5,055,961 in proceeds. Following the sale of shares at $59.64 each, the insider now holds 0 shares.
Before that, BLASING KAREN had sold 3,250 shares from its account. In a trade valued at $193,080, the Director traded Gitlab Inc shares for $59.41 each. Upon closing the transaction, the insider’s holdings decreased to 3,250 shares, worth approximately $8.94 million.
As published in a research note from Needham on October 21, 2024, Gitlab Inc [GTLB] has been rated up from a Hold to a Buy and the price target has been revised to $70. Analysts at Morgan Stanley started covering the stock with ‘”an Overweight”‘ outlook in a report released in early October. As of August 27, 2024, BofA Securities has reiterated its “Buy” rating for GTLB. Earlier on August 27, 2024, Robert W. Baird initiated its rating. Their recommendation was “an Outperform” for GTLB stock.
Analyzing GTLB Stock Performance
During the last five days, there has been a surge of approximately 5.97%. Over the course of the year, Gitlab Inc shares have jumped approximately 2.92%. 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 $55.08, while a 200-day SMA reached $54.34. Nevertheless, trading volume fell to 4.65 million shares from 1.85 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 63.63, which, if violated, would cause prices to drop to 62.46. In the upper region, resistance lies at 66.21. The next price resistance is at 67.62. RSI (Relative Strength Index) is 73.24 on the 14-day chart, showing overbought technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.32, which suggests the price will increase in the coming days. Percent R is at 14.51%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
