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 on Monday, October 19th. The stock was sold at an average price of $53.27, for a total value of $6,189,974.00. Following the completion of the transaction, the director owned 12,669,651 shares of the company’s stock, valued at $674,912,308.77. The trade was a 0.91% decrease in their position. The transaction was disclosed in a filing with the SEC, 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 Monday, September 28th, Sytse Sijbrandij sold 430,000 shares of GitLab stock. The shares were 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 stock was sold at an average price of $47.75, for a total transaction of $33,687,147.50.
• On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The stock was sold at an average price of $48.63, for a total transaction of $47,691,927.30.

GitLab Trading Up 0.8%

Shares of NASDAQ:GTLB traded up $0.45 on Wednesday, reaching $55.45. 2,228,786 shares of the company were exchanged, compared to its average volume of 5,621,443. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $57.89. The firm has a market cap of $9.24 billion, a price-to-earnings ratio of -173.28 and a beta of 0.98. The company has a 50-day moving average of $47.99 and a 200-day moving average of $35.17.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the firm posted $0.24 EPS. The business’s revenue was up 21.3% compared to the same quarter last year. 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, analysts forecast that GitLab Inc. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on GTLB. Weiss Ratings cut shares of GitLab from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Piper Sandler boosted their price target on GitLab from $28.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada upped their target price on GitLab from $46.00 to $60.00 and gave the company a “sector perform” rating in a report on Wednesday, September 2nd. Robert W. Baird raised their price objective on shares of GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 2nd. Finally, Cantor Fitzgerald boosted 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. Seven equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, GitLab has an average rating of “Hold” and a consensus price target of $51.75.

Hedge Funds Weigh In On GitLab

Institutional investors and hedge funds have recently bought and sold shares of the stock. Strengthening Families & Communities LLC raised its stake in GitLab by 2.2% during the third quarter. Strengthening Families & Communities LLC now owns 28,505 shares of the company’s stock worth $1,347,000 after purchasing an additional 622 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of GitLab by 24.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 433 shares during the period. Prime Capital Investment Advisors LLC purchased a new stake in shares of GitLab during the 3rd quarter valued at $206,000. Vontobel Holding Ltd. grew its stake in shares of GitLab by 11.8% during the 3rd quarter. Vontobel Holding Ltd. now owns 14,238 shares of the company’s stock valued at $673,000 after buying an additional 1,507 shares during the period. Finally, Curated Wealth Partners LLC acquired a new stake in shares of GitLab during the 3rd quarter worth $407,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Company Profile

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.