GitLab (NASDAQ:GTLB) Director Sytse Sijbrandij Sells 116,200 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $53.27, for a total transaction of $6,189,974.00. Following the sale, the director owned 12,669,651 shares of the company’s stock, valued at approximately $674,912,308.77. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, September 28th, Sytse Sijbrandij sold 430,000 shares of GitLab stock. The stock was sold at an average price of $45.84, for a total value of $19,711,200.00.
• 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 Stock Performance

Shares of GTLB stock opened at $55.45 on Thursday. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $57.89. The firm has a market cap of $9.24 billion, a P/E ratio of -173.28 and a beta of 0.98. The business’s 50 day moving average price is $48.28 and its 200-day moving average price is $35.40.

GitLab (NASDAQ:GTLB) last announced 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 during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter in the prior year, the company earned $0.24 earnings per share. The firm’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, equities analysts predict that GitLab Inc. will post -0.29 EPS for the current year.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently made changes to their positions in the business. Tsfg LLC purchased a new position in shares of GitLab during the second quarter valued at approximately $31,000. Fifth Third Bancorp grew its stake in shares of GitLab by 220.6% in the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the last quarter. Versant Capital Management Inc grew its stake in shares of GitLab by 300.6% in the 2nd quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after buying an additional 1,401 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of GitLab by 24.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 433 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in GitLab by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock valued at $85,000 after buying an additional 1,043 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Barclays upped their price objective on shares of GitLab from $25.00 to $47.00 and gave the stock an “underweight” rating in a report on Wednesday, September 2nd. Cantor Fitzgerald lifted their target price on shares of GitLab from $35.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, August 31st. JPMorgan Chase & Co. lifted their target price on shares of GitLab from $32.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Royal Bank Of Canada boosted their price target on shares of GitLab from $46.00 to $60.00 and gave the company a “sector perform” rating in a research report on Wednesday, September 2nd. Finally, Morgan Stanley increased their price target on shares of GitLab from $30.00 to $57.00 and gave the stock an “equal weight” rating in a research note 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.75.

About GitLab

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.