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Gitlab chief legal officer Robin Schulman sells $167,716 in stock

Published 2024-12-23, 06:56 p/m
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SAN FRANCISCO—Robin Schulman, the Chief Legal Officer and Corporate Secretary of Gitlab Inc. (NASDAQ:GTLB), recently sold 2,996 shares of the company's Class A Common Stock. The transaction took place on December 20, 2024, at an average price of $55.98 per share, totaling approximately $167,716. The sale comes as GitLab's stock has shown strong momentum, with a nearly 37% gain over the past six months, according to InvestingPro data.

Following this sale, Schulman now directly owns 129,223 shares of Gitlab's Class A Common Stock. It's important to note that some of these shares have not yet vested. The sale was conducted under a pre-arranged trading plan established in accordance with Rule 10b5-1, which allows insiders to set up a predetermined plan for buying or selling stock. GitLab maintains impressive gross profit margins of 89%, while 24 analysts have recently revised their earnings expectations upward.

This transaction highlights ongoing activities by Gitlab's executive team as they manage their equity holdings in the company. For deeper insights into insider trading patterns and comprehensive financial analysis, InvestingPro subscribers can access detailed reports covering over 1,400 US stocks, including GitLab.

In other recent news, GitLab Inc. has been the focus of several investment firms, all of which have revised their price targets following the company's strong third-quarter performance. Macquarie initiated coverage on GitLab with an Outperform rating and a price target of $90.00, citing the company's key role in the developer security operations market. TD (TSX:TD) Cowen, Piper Sandler, KeyBanc Capital Markets, and Baird have all increased their price targets for GitLab, reflecting confidence in the company's robust quarterly performance and promising trajectory.

GitLab reported a revenue growth of 31% in the third quarter, surpassing expectations. The company's earnings per share guidance has nearly tripled from the initial forecast, and the full-year guidance has increased by $10.5 million. These recent developments highlight GitLab's impressive financial performance and growth potential, particularly in the DevSecOps market.

In addition to these financial achievements, GitLab announced a significant leadership change with Bill Staples named as the incoming CEO, succeeding co-founder Sid Sijbrandij. Analysts at these firms expressed optimism about GitLab's recent performance and growth potential, particularly in the DevSecOps market. The company's Duo offering, recent price increases for its Premium tier, and the GitLab Dedicated offering were highlighted as key drivers. However, these are recent developments and could be subject to change.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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