Insider Selling: GitLab (NASDAQ:GTLB) Director Sells $33,687,147.50 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 705,490 shares of the stock in a transaction dated Friday, September 25th. The stock was sold at an average price of $47.75, for a total value of $33,687,147.50. Following the completion of the sale, the director directly owned 13,215,851 shares of the company’s stock, valued at approximately $631,056,885.25. This represents a 5.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 stock was sold at an average price of $45.84, for a total value of $19,711,200.00.
• 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 value of $47,691,927.30.

GitLab Stock Down 1.4%

Shares of GTLB traded down $0.64 during trading hours on Monday, reaching $46.21. The company’s stock had a trading volume of 5,194,505 shares, compared to its average volume of 5,771,827. The company has a 50 day moving average of $42.22 and a two-hundred day moving average of $31.60. The firm has a market cap of $7.70 billion, a price-to-earnings ratio of -144.40 and a beta of 0.99. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $55.55.

GitLab (NASDAQ:GTLB) last posted its quarterly 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. 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 analysts’ expectations of $273.13 million. During the same period last year, the company posted $0.24 earnings per share. The firm’s quarterly 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 -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On GitLab

Several institutional investors have recently bought and sold shares of the stock. Main Management ETF Advisors LLC lifted its holdings in GitLab by 1.0% in the 4th quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock worth $1,264,000 after purchasing an additional 344 shares during the last quarter. HighTower Advisors LLC grew its holdings in GitLab by 7.6% during the second quarter. HighTower Advisors LLC now owns 10,291 shares of the company’s stock valued at $314,000 after purchasing an additional 727 shares during the last quarter. Siren L.L.C. grew its holdings in GitLab by 1.0% during the first quarter. Siren L.L.C. now owns 100,000 shares of the company’s stock valued at $2,164,000 after purchasing an additional 1,000 shares during the last quarter. Tsfg LLC bought a new position in shares of GitLab in the second quarter valued at approximately $31,000. Finally, GAMMA Investing LLC lifted its stake in shares of GitLab by 60.4% in the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock worth $85,000 after buying an additional 1,043 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GTLB has been the topic of several research analyst reports. Barclays boosted their price target on shares of GitLab from $25.00 to $47.00 and gave the company an “underweight” rating in a report on Wednesday, September 2nd. UBS Group increased their price objective on GitLab from $40.00 to $50.00 and gave the stock a “neutral” rating in a report on Wednesday, September 2nd. Morgan Stanley lifted their price objective on GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Mizuho upped their target price on GitLab from $34.00 to $47.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Royal Bank Of Canada raised their price target on GitLab from $46.00 to $60.00 and gave the stock a “sector perform” rating in a research note on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.75.

About GitLab

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.