GitLab (NASDAQ:GTLB) Hits New 1-Year Low – Here’s What Happened

GitLab Inc. (NASDAQ:GTLB) hit a new 52-week low during trading on Monday . The stock traded as low as $21.77 and last traded at $22.3530, with a volume of 665394 shares traded. The stock had previously closed at $22.25.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Sanford C. Bernstein cut their price target on shares of GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. UBS Group decreased their price objective on shares of GitLab from $51.00 to $44.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Wells Fargo & Company lowered their target price on shares of GitLab from $45.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. Needham & Company LLC reduced their price target on shares of GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, Zacks Research lowered GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $39.62.

GitLab Trading Down 0.3%

The stock’s 50 day moving average is $29.59 and its 200 day moving average is $38.74. The stock has a market capitalization of $3.74 billion, a price-to-earnings ratio of -63.47 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. On average, sell-side analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO James Shen sold 2,538 shares of the business’s stock in a transaction on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the transaction, the chief financial officer directly owned 52,284 shares of the company’s stock, valued at $1,990,974.72. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total value of $1,542,663.00. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 111,138 shares of company stock worth $3,591,938. 21.36% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC boosted its stake in shares of GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after purchasing an additional 4,806,163 shares during the last quarter. Eminence Capital LP raised its position in shares of GitLab by 148.9% in the second quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock valued at $280,521,000 after buying an additional 3,720,406 shares during the last quarter. Atreides Management LP raised its position in shares of GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after buying an additional 3,531,070 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in shares of GitLab by 251.3% during the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock valued at $203,545,000 after buying an additional 3,227,717 shares during the period. Finally, Norges Bank acquired a new stake in GitLab during the fourth quarter worth approximately $81,379,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Company Profile

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.