Insider Selling: GitLab (NASDAQ:GTLB) Director Sells 700,109 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director directly owned 325 shares of the company’s stock, valued at approximately $7,458.75. This trade represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Matthew Jacobson also recently made the following trade(s):

• On Friday, March 20th, Matthew Jacobson sold 459,799 shares of GitLab stock. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63.

GitLab Price Performance

NASDAQ:GTLB traded up $0.02 during mid-day trading on Monday, reaching $22.27. The company’s stock had a trading volume of 4,563,250 shares, compared to its average volume of 6,284,621. The stock has a market cap of $3.75 billion, a P/E ratio of -63.63 and a beta of 0.79. GitLab Inc. has a twelve month low of $21.77 and a twelve month high of $54.08. The company’s fifty day simple moving average is $29.59 and its two-hundred day simple moving average is $38.74.

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

Hedge Funds Weigh In On GitLab

Several institutional investors and hedge funds have recently made changes to their positions in GTLB. Allworth Financial LP increased its stake in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after buying an additional 309 shares during the last quarter. Quarry LP bought a new stake in shares of GitLab in the 3rd quarter worth about $31,000. Farther Finance Advisors LLC raised its stake in shares of GitLab by 284.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after purchasing an additional 671 shares in the last quarter. Lodestone Wealth Management LLC acquired a new stake in shares of GitLab in the 4th quarter valued at about $36,000. Finally, Global Retirement Partners LLC lifted its position in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after purchasing an additional 445 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTLB has been the subject of a number of recent research reports. UBS Group lowered their target price on GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Weiss Ratings restated a “sell (d-)” rating on shares of GitLab in a report on Monday, December 22nd. Royal Bank Of Canada lowered their price objective on shares of GitLab from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Bank of America dropped their price objective on shares of GitLab from $72.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, Morgan Stanley reduced their target price on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a research report on Monday, March 9th. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, GitLab presently has an average rating of “Hold” and an average price target of $39.62.

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.