Sytse Sijbrandij Sells 116,200 Shares of GitLab (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the sale, the director owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. This represents a 0.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sytse Sijbrandij also recently made the following trade(s):

• On Wednesday, April 15th, Sytse Sijbrandij sold 116,200 shares of GitLab stock. The stock was sold at an average price of $20.77, for a total value of $2,413,474.00.
• On Tuesday, February 17th, Sytse Sijbrandij sold 54,300 shares of GitLab stock. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00.

GitLab Stock Up 1.5%

Shares of GitLab stock opened at $25.46 on Wednesday. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $52.38. The stock has a market cap of $4.33 billion, a P/E ratio of -72.74 and a beta of 0.82. The business’s 50 day moving average is $22.42 and its 200-day moving average is $31.64.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The business had revenue of $260.40 million for the quarter, compared to analysts’ expectations of $252.31 million. During the same quarter in the prior year, the business earned $0.33 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, sell-side analysts expect that GitLab Inc. will post -0.28 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on GTLB. Sanford C. Bernstein dropped their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley dropped their price target on GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a research note on Monday, March 9th. Piper Sandler cut GitLab from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $28.00 in a research note on Wednesday, March 4th. UBS Group cut GitLab from a “buy” rating to a “neutral” rating and dropped their price target for the company from $44.00 to $24.00 in a research note on Thursday, April 16th. Finally, Mizuho dropped their price target on GitLab from $30.00 to $26.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $37.08.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in GTLB. Allworth Financial LP grew its holdings in shares of GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP acquired a new stake in shares of GitLab during the 3rd quarter worth $31,000. Fifth Third Bancorp grew its holdings in shares of GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after purchasing an additional 1,103 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of GitLab during the 4th quarter worth $36,000. Finally, Larson Financial Group LLC grew its holdings in shares of GitLab by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after purchasing an additional 481 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Company Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.