GitLab (NASDAQ:GTLB) Director Sells $2,887,570.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 shares were 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 shares were sold at an average price of $28.41, for a total value of $1,542,663.00.

GitLab Stock Up 6.0%

NASDAQ GTLB traded up $1.43 during trading on Monday, hitting $25.09. The stock had a trading volume of 6,384,873 shares, compared to its average volume of 6,164,949. The company has a market capitalization of $4.27 billion, a PE ratio of -71.69 and a beta of 0.82. The firm has a 50 day moving average price of $22.41 and a 200 day moving average price of $31.96. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $52.38.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $252.31 million. During the same period in the previous year, the company posted $0.33 EPS. GitLab’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts anticipate that GitLab Inc. will post -0.28 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently commented on GTLB. Piper Sandler downgraded GitLab from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th. DA Davidson set a $24.00 price objective on GitLab in a research report on Thursday, March 5th. Mizuho lowered their price objective on GitLab from $30.00 to $26.00 and set a “neutral” rating for the company in a research report on Tuesday, May 12th. Barclays lowered their price objective on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 4th. Finally, BTIG Research lowered their price objective on GitLab from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $37.08.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allworth Financial LP boosted its holdings in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP acquired a new position in GitLab in the third quarter valued at approximately $31,000. Lodestone Wealth Management LLC acquired a new position in GitLab in the fourth quarter valued at approximately $36,000. Larson Financial Group LLC boosted its holdings in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new position in GitLab in the third quarter valued at approximately $48,000. 95.04% of the stock is owned by institutional investors and hedge funds.

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.