GitLab Inc. $GTLB Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lowered its position in GitLab Inc. (NASDAQ:GTLB) by 1.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 15,072,714 shares of the company’s stock after selling 209,061 shares during the period. Vanguard Group Inc. owned about 0.09% of GitLab worth $565,679,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Allworth Financial LP grew its stake 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 during the period. Quarry LP purchased a new position in GitLab during the third quarter worth about $31,000. Lodestone Wealth Management LLC purchased a new position in shares of GitLab in the 4th quarter worth about $36,000. Farther Finance Advisors LLC raised its holdings in shares of GitLab by 284.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after purchasing an additional 671 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in shares of GitLab by 84.1% in the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after purchasing an additional 445 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on GTLB shares. Rosenblatt Securities lowered their target price on GitLab from $55.00 to $43.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Bank of America lowered GitLab from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $58.00 to $27.00 in a research report on Wednesday, April 22nd. Morgan Stanley cut their price target on GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a report on Monday, March 9th. Sanford C. Bernstein cut their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of GitLab in a research note on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $37.35.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $24.59 on Tuesday. The business’s 50-day moving average price is $22.72 and its two-hundred day moving average price is $33.43. GitLab Inc. has a one year low of $18.73 and a one year high of $54.08. The company has a market capitalization of $4.18 billion, a P/E ratio of -70.26 and a beta of 0.82.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, topping 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 company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. During the same quarter in the previous year, the firm earned $0.33 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, equities analysts anticipate that GitLab Inc. will post -0.28 EPS for the current year.

Insider Activity at GitLab

In related news, Director Matthew Jacobson sold 700,109 shares of the stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the sale, the director directly owned 325 shares in the company, valued at $7,458.75. This represents a 99.95% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total value of $2,413,474.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 1,330,408 shares of company stock valued at $30,309,342. Insiders own 21.36% of the company’s stock.

About GitLab

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.