GitLab (NASDAQ:GTLB) Stock: Insider Sivaprasad Padisetty Sells 51,915 Shares

GitLab Inc. (NASDAQ:GTLB) CTO Sivaprasad Padisetty sold 51,915 shares of the stock in a transaction on Monday, September 28th. The shares were sold at an average price of $45.78, for a total value of $2,376,668.70. Following the sale, the chief technology officer directly owned 377,211 shares in the company, valued at approximately $17,268,719.58. The trade was a 12.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GitLab Price Performance

NASDAQ:GTLB traded down $0.64 on Monday, reaching $46.21. The stock had a trading volume of 5,194,505 shares, compared to its average volume of 5,740,912. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $55.55. The company has a market cap of $7.70 billion, a price-to-earnings ratio of -144.40 and a beta of 0.99. The firm’s fifty day moving average is $42.46 and its two-hundred day moving average is $31.76.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. GitLab’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.24 EPS. 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, research analysts forecast that GitLab Inc. will post -0.28 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on GTLB shares. Bank of America increased their price objective on shares of GitLab from $45.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Morgan Stanley increased their target price on GitLab from $30.00 to $57.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. DA Davidson lifted their target price on GitLab from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a report on Wednesday, September 2nd. Finally, Cantor Fitzgerald increased their price objective 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 issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $51.75.

Institutional Inflows and Outflows

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