GitLab (NASDAQ:GTLB) Director Sells $6,189,974.00 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, October 19th. The shares were sold at an average price of $53.27, for a total value of $6,189,974.00. Following the sale, the director directly owned 12,669,651 shares in the company, valued at approximately $674,912,308.77. The trade was a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction of $19,711,200.00.
• 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 value 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 Stock Performance

Shares of GTLB opened at $56.28 on Friday. The stock’s 50-day moving average price is $48.78 and its 200-day moving average price is $35.77. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $57.89.

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

Analyst Ratings Changes

A number of equities research analysts have weighed in on GTLB shares. TD Cowen lifted their price objective on GitLab from $29.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their price target on GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 2nd. Rosenblatt Securities boosted their price target on GitLab from $43.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. UBS Group set a $64.00 price objective on shares of GitLab in a report on Friday. Finally, Truist Financial reiterated a “hold” rating and set a $48.00 price target (up from $40.00) on shares of GitLab in a research report on Wednesday, September 2nd. 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 company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Atreides Management LP purchased a new position in GitLab in the second quarter valued at $102,983,000. SG Americas Securities LLC grew its position in shares of GitLab by 6,528.0% in the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock valued at $67,850,000 after buying an additional 3,088,089 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of GitLab by 363.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company’s stock valued at $60,680,000 after acquiring an additional 1,558,625 shares in the last quarter. Light Street Capital Management LLC grew its position in shares of GitLab by 66.2% in the second quarter. Light Street Capital Management LLC now owns 1,945,000 shares of the company’s stock valued at $59,381,000 after purchasing an additional 775,000 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new position in shares of GitLab in the 1st quarter valued at $16,074,000. 95.04% of the stock is currently owned by institutional investors.

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.