GitLab Inc. $GTLB Shares Sold by Selective Wealth Management Inc.

Selective Wealth Management Inc. decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 68.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,365 shares of the company’s stock after selling 60,794 shares during the quarter. Selective Wealth Management Inc.’s holdings in GitLab were worth $1,340,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. HighTower Advisors LLC lifted its stake in GitLab by 7.6% in the 2nd quarter. HighTower Advisors LLC now owns 10,291 shares of the company’s stock worth $314,000 after purchasing an additional 727 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of GitLab by 27.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,524 shares of the company’s stock worth $167,000 after acquiring an additional 755 shares during the last quarter. Siren L.L.C. raised its holdings in shares of GitLab by 1.0% during the 1st quarter. Siren L.L.C. now owns 100,000 shares of the company’s stock worth $2,164,000 after acquiring an additional 1,000 shares during the period. Tsfg LLC purchased a new position in shares of GitLab during the 2nd quarter worth $31,000. Finally, Fifth Third Bancorp raised its holdings in shares of GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after acquiring an additional 1,103 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GitLab

In related news, CTO Sivaprasad Padisetty sold 51,915 shares of the firm’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the completion of the sale, the chief technology officer directly owned 377,211 shares of the company’s stock, valued at approximately $17,268,719.58. This trade represents a 12.10% decrease in their position. The sale was disclosed in a document filed 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. Also, Director Sytse Sijbrandij sold 980,710 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $48.63, for a total value of $47,691,927.30. Following the sale, the director directly owned 13,921,341 shares of the company’s stock, valued at $676,994,812.83. The trade was a 6.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 2,176,840 shares of company stock worth $103,798,494. 10.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley boosted their price target on shares of GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a research report on Wednesday, September 2nd. Wells Fargo & Company lifted their target price on shares of GitLab from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 2nd. Guggenheim reiterated a “neutral” rating on shares of GitLab in a report on Wednesday, September 2nd. Finally, Mizuho boosted their target price on shares of GitLab from $34.00 to $47.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $51.75.

GitLab Trading Down 5.7%

GTLB stock traded down $3.18 during midday trading on Friday, hitting $52.76. 3,566,585 shares of the company’s stock were exchanged, compared to its average volume of 4,355,491. The business has a 50-day simple moving average of $47.48 and a two-hundred day simple moving average of $34.61. The stock has a market capitalization of $8.79 billion, a PE ratio of -164.87 and a beta of 0.98. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $57.89.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The company had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. During the same quarter in the previous year, the business earned $0.24 earnings per share. The company’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. As a group, research analysts expect that GitLab Inc. will post -0.29 EPS for the current fiscal year.

GitLab 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.