GitLab (NASDAQ:GTLB) Director Sells $19,711,200.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 430,000 shares of the firm’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $45.84, for a total value of $19,711,200.00. Following the completion of the sale, the director owned 12,785,851 shares of the company’s stock, valued at $586,103,409.84. This represents a 3.25% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• 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 value of $33,687,147.50.
• On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The shares were sold at an average price of $48.63, for a total value of $47,691,927.30.

GitLab Price Performance

Shares of GTLB stock opened at $47.25 on Thursday. The stock has a market cap of $7.87 billion, a P/E ratio of -147.65 and a beta of 0.99. GitLab Inc. has a one year low of $18.73 and a one year high of $55.55. The stock has a fifty day moving average price of $43.06 and a 200 day moving average price of $32.10.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The firm had revenue of $286.25 million for the quarter, compared to analyst estimates of $273.13 million. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Equities research analysts anticipate that GitLab Inc. will post -0.28 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently weighed in on GTLB. Robert W. Baird upped their target price on shares of GitLab from $47.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. Canaccord Genuity Group lifted their price objective on GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Wolfe Research reiterated an “outperform” rating and issued a $36.00 price objective on shares of GitLab in a research note on Wednesday, June 3rd. Needham & Company LLC increased their target price on GitLab from $38.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. Finally, TD Cowen raised their target price on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a research report on Thursday, August 27th. Seven analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $51.75.

Hedge Funds Weigh In On GitLab

Several institutional investors have recently added to or reduced their stakes in the company. Eminence Capital LP boosted its position in GitLab by 6.9% in the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock valued at $289,065,000 after buying an additional 494,497 shares in the last quarter. Atreides Management LP acquired a new stake in shares of GitLab during the second quarter worth approximately $102,983,000. Geode Capital Management LLC raised its stake in shares of GitLab by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company’s stock valued at $102,216,000 after acquiring an additional 97,342 shares during the last quarter. Norges Bank bought a new position in shares of GitLab in the fourth quarter valued at approximately $81,379,000. Finally, State Street Corp boosted its holdings in shares of GitLab by 3.2% in the 2nd quarter. State Street Corp now owns 2,632,173 shares of the company’s stock worth $80,351,000 after acquiring an additional 81,807 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

GitLab Company Profile

GitLab Inc (NASDAQ:GTLB) develops a cloud-based DevSecOps platform that helps organizations plan, create, secure and deploy software. Its platform brings together source code management, version control, issue tracking, project planning, continuous integration and continuous delivery, enabling development, operations and security teams to collaborate in a unified environment.

GitLab’s products also include application security testing, vulnerability management, compliance tools, infrastructure as code, software supply chain security and monitoring capabilities.