Insider Selling: GitLab (NASDAQ:GTLB) Director Sells 116,200 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $53.27, for a total transaction of $6,189,974.00. Following the transaction, the director owned 12,669,651 shares of the company’s stock, valued at $674,912,308.77. This trade represents a 0.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Monday, September 28th, Sytse Sijbrandij sold 430,000 shares of GitLab stock. The shares were sold at an average price of $45.84, for a total transaction of $19,711,200.00.
• On Friday, September 25th, Sytse Sijbrandij sold 705,490 shares of GitLab stock. The shares were sold at an average price of $47.75, for a total transaction of $33,687,147.50.
• On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The stock was sold at an average price of $48.63, for a total value of $47,691,927.30.

GitLab Stock Up 0.8%

NASDAQ:GTLB traded up $0.45 during mid-day trading on Wednesday, reaching $55.45. 2,228,786 shares of the stock were exchanged, compared to its average volume of 5,621,443. The stock has a market capitalization of $9.24 billion, a P/E ratio of -173.28 and a beta of 0.98. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $57.89. The company has a 50 day simple moving average of $47.99 and a 200-day simple moving average of $35.17.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The company had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. GitLab’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period last year, the firm posted $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, research analysts predict that GitLab Inc. will post -0.29 EPS for the current year.

Analysts Set New Price Targets

GTLB has been the topic of a number of research reports. Sanford C. Bernstein reissued an “outperform” rating on shares of GitLab in a report on Wednesday, September 2nd. Piper Sandler upped their price objective on GitLab from $28.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. TD Cowen increased their price objective on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Mizuho lifted their target price on GitLab from $34.00 to $47.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Finally, Guggenheim reissued a “neutral” rating on shares of GitLab in a report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $51.75.

Institutional Investors Weigh In On GitLab

Hedge funds have recently added to or reduced their stakes in the company. Atreides Management LP purchased a new stake in GitLab in the 2nd quarter valued at approximately $102,983,000. SG Americas Securities LLC raised its stake in shares of GitLab by 6,528.0% during the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after buying an additional 3,088,089 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of GitLab by 363.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company’s stock worth $60,680,000 after buying an additional 1,558,625 shares in the last quarter. Light Street Capital Management LLC raised its stake in shares of GitLab by 66.2% during the 2nd quarter. Light Street Capital Management LLC now owns 1,945,000 shares of the company’s stock worth $59,381,000 after buying an additional 775,000 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of GitLab in the 1st quarter valued at approximately $16,074,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Company Profile

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.