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Tuesday, January 31, 2023

GitLab Inc. (NASDAQ: GTLB) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for GitLab Inc. (GTLB) shows that investor sentiment remained broken, with the stock’s consolidated last price falling by -$0.03, or -0.08%, to $38.70. The GitLab Inc. has recorded 34,101 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that GitLab to Present at the Needham Growth Conference.

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Stocks Info

GitLab Inc. is listed on the NASDAQ as a member of the Technology sector and is a part of the Software – Application industry. At the end of the last regular session, the stock closed at $38.73 and fluctuated between $39.46 as its day high and $37.35 as its day low. The current market capitalization of GitLab Inc. is $5.72B. A total of 1.62 million shares were traded on the day, compared to an average of 1.95M shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, GTLB has seen 13 BUY and 5 SELL insider trades, representing the acquisition of 708,213 and the disposition of 13,664 shares. Over the last 12 months, there were 73 BUYs and 41 SELLs from insiders. Insiders purchased 40,471,703 shares during that period but sold 12,534,208.

In the most recent transaction, McBride Michael Eugene sold 6,832 shares of GTLB for 45.70 per share on Jan 03. After the transaction, the Chief Revenue Officer now owns 869,178 company shares. In a previous transaction on Dec 27, Makan Divesh sold 53,676 shares at 44.65 per share. GTLB shares that 10% Owner owns now total 0.

Among the insiders who sold shares, McBride Michael Eugene disposed of 6,832 shares on Dec 08 at a per-share price of $45.00. This resulted in the Chief Revenue Officer holding 876,010 shares of GTLB after the transaction. In another insider transaction, GV 2021 GP, L.L.C. bought 182,312 shares at $34.60 per share on Nov 09. Company shares held by the Member of 10% Group now total 1,294,527.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for GTLB in the last 3 months, the mean price target is $67.62 with high estimates of $101.00 and low estimates of $45.00. In terms of 52-week highs and lows, GTLB has a high of $80.84 and a low of $30.74.

As of this writing, GTLB has an earnings estimate of -$0.15 per share for the current quarter. EPS was calculated based on a consensus of 13 estimates, with a high estimate of -$0.13 per share and a lower estimate of -$0.16. The company reported an EPS of -$0.18 in the last quarter, which was 33.30% higher than expectations of -$0.27.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 15 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for GTLB is Underweight with a score of 4.71. A total of 13 analysts rated the stock as Buy while 1 rated it as Overweight while 1 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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