Insider Selling: GitLab (NASDAQ:GTLB) Director Sells $19,711,200.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 430,000 shares of the business’s stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.84, for a total value of $19,711,200.00. Following the completion of the transaction, the director directly owned 12,785,851 shares of the company’s stock, valued at approximately $586,103,409.84. This trade represents a 3.25% decrease in their position. The sale was disclosed in a legal 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 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 transaction 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 transaction of $47,691,927.30.

GitLab Stock Performance

Shares of GTLB stock traded down $0.64 during trading hours on Monday, reaching $46.21. The company had a trading volume of 5,194,505 shares, compared to its average volume of 5,771,827. The business has a fifty day moving average price of $42.22 and a 200-day moving average price of $31.60. GitLab Inc. has a one year low of $18.73 and a one year high of $55.55. The firm has a market cap of $7.70 billion, a PE ratio of -144.40 and a beta of 0.99.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share 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 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 prior year, the firm earned $0.24 earnings per share. The firm’s revenue for the quarter 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. Equities research analysts forecast that GitLab Inc. will post -0.28 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GTLB. DA Davidson raised their price target on GitLab from $45.00 to $55.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Sanford C. Bernstein reissued an “outperform” rating on shares of GitLab in a report on Wednesday, September 2nd. Weiss Ratings cut GitLab from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. Wells Fargo & Company increased their price objective 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. Finally, Wolfe Research restated an “outperform” rating and set a $36.00 target price on shares of GitLab in a research report on Wednesday, June 3rd. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $51.75.

Institutional Trading of GitLab

Several hedge funds have recently bought and sold shares of the stock. Eminence Capital LP increased its position in GitLab by 6.9% in the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after buying an additional 494,497 shares in the last quarter. Atreides Management LP purchased a new position in shares of GitLab during the 2nd quarter valued at about $102,983,000. SG Americas Securities LLC grew its stake in shares of GitLab by 6,528.0% during the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock valued at $67,850,000 after acquiring an additional 3,088,089 shares during the period. Geode Capital Management LLC grew its stake in shares of GitLab by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company’s stock valued at $102,216,000 after acquiring an additional 97,342 shares during the period. Finally, State Street Corp increased its holdings in GitLab by 3.2% in the 2nd quarter. State Street Corp now owns 2,632,173 shares of the company’s stock worth $80,351,000 after acquiring an additional 81,807 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Company Profile

GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.

GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.