GitLab Sees Unusually High Options Volume (NASDAQ:GTLB)

GitLab Inc. (NASDAQ:GTLB) saw some unusual options trading activity on Tuesday. Investors purchased 69,345 call options on the stock. Thisisanincreaseof544% compared to the typical daily volume of 10,774 call options.

Insider Buying and Selling

In other news, Director Matthew Jacobson sold 129,400 shares of the stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the transaction, the director directly owned 551,997 shares in the company, valued at approximately $23,360,513.04. This represents a 18.99% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director directly owned 103,889 shares in the company, valued at $4,675,005. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock worth $20,025,356 in the last three months. 21.36% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On GitLab

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. raised its position in GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock worth $25,000 after purchasing an additional 334 shares during the period. CoreCap Advisors LLC boosted its stake in shares of GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company’s stock valued at $33,000 after purchasing an additional 452 shares during the period. Twin Tree Management LP bought a new position in shares of GitLab in the first quarter worth approximately $29,000. Cloud Capital Management LLC purchased a new position in shares of GitLab in the first quarter worth $29,000. Finally, Harbour Investments Inc. boosted its position in GitLab by 447.6% during the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock valued at $42,000 after buying an additional 734 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GitLab stock traded down $1.46 during trading hours on Tuesday, reaching $43.77. The company had a trading volume of 5,617,320 shares, compared to its average volume of 3,514,648. GitLab has a one year low of $37.90 and a one year high of $74.18. The firm has a market cap of $7.23 billion, a PE ratio of 437.70 and a beta of 0.73. The business has a fifty day simple moving average of $44.04 and a 200 day simple moving average of $48.48.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The business had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the previous year, the firm earned $0.03 EPS. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, research analysts forecast that GitLab will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Zacks Research upgraded shares of GitLab to a “strong sell” rating in a research report on Monday, August 11th. Macquarie reaffirmed an “outperform” rating and set a $75.00 target price on shares of GitLab in a report on Wednesday, June 25th. Wells Fargo & Company decreased their target price on shares of GitLab from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Wednesday, June 11th. Mizuho reduced their price objective on shares of GitLab from $72.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $62.00 target price on shares of GitLab in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $62.83.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.