Insider Selling: GitLab (NASDAQ:GTLB) Director Sells 116,200 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Sytse Sijbrandij also recently made the following trade(s):

• On Wednesday, April 15th, Sytse Sijbrandij sold 116,200 shares of GitLab stock. The shares were sold at an average price of $20.77, for a total value of $2,413,474.00.
• On Tuesday, February 17th, Sytse Sijbrandij sold 54,300 shares of GitLab stock. The shares were sold at an average price of $28.41, for a total value of $1,542,663.00.

GitLab Price Performance

Shares of GTLB stock traded up $1.43 during trading hours on Monday, hitting $25.09. The stock had a trading volume of 6,384,873 shares, compared to its average volume of 6,164,949. The firm has a market capitalization of $4.27 billion, a PE ratio of -71.69 and a beta of 0.82. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $52.38. The stock’s 50 day moving average is $22.41 and its 200 day moving average is $31.96.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 earnings per share. As a group, equities analysts predict that GitLab Inc. will post -0.28 earnings per share for the current year.

Institutional Trading of GitLab

Several hedge funds have recently made changes to their positions in GTLB. AQR Capital Management LLC increased its stake in shares of GitLab by 766.3% during the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after acquiring an additional 4,806,163 shares during the period. Atreides Management LP lifted its position in GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after purchasing an additional 3,531,070 shares during the period. SG Americas Securities LLC boosted its holdings in 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 purchasing an additional 3,088,089 shares in the last quarter. Norges Bank purchased a new stake in GitLab in the 4th quarter valued at approximately $81,379,000. Finally, Technology Crossover Management X Ltd. increased its position in GitLab by 491.4% during the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock worth $72,137,000 after purchasing an additional 1,597,114 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GTLB. Cantor Fitzgerald decreased their price objective on GitLab from $30.00 to $27.00 and set a “neutral” rating for the company in a report on Wednesday, May 13th. William Blair reissued an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. Sanford C. Bernstein decreased their price objective on GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. DA Davidson set a $24.00 price objective on GitLab in a report on Thursday, March 5th. Finally, Guggenheim downgraded GitLab from a “buy” rating to a “neutral” rating in a report on Thursday, April 9th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.08.

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.