GitLab (NASDAQ:GTLB) Trading Down 5.4% – Here’s Why

GitLab Inc. (NASDAQ:GTLB)’s stock price traded down 5.4% during trading on Thursday . The stock traded as low as $25.26 and last traded at $25.2570. 1,163,049 shares were traded during mid-day trading, a decline of 81% from the average session volume of 6,118,630 shares. The stock had previously closed at $26.70.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. William Blair reiterated an “underperform” rating on shares of GitLab in a research note on Monday, March 23rd. Guggenheim lowered GitLab from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Sanford C. Bernstein decreased their target price on GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price on shares of GitLab in a research report on Monday, April 13th. Finally, Barclays decreased their target price on GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.08.

GitLab Trading Down 4.1%

The firm has a fifty day moving average of $22.46 and a two-hundred day moving average of $31.49. The company has a market cap of $4.35 billion, a PE ratio of -73.09 and a beta of 0.82.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share 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 quarter last year, the firm posted $0.33 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. Sell-side analysts expect that GitLab Inc. will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 116,200 shares of GitLab 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 in the company, valued at approximately $373,203,537.35. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total value of $16,067,501.55. Following the sale, the director owned 325 shares in the company, valued at approximately $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,392,308 shares of company stock valued at $31,654,249 over the last quarter. 10.64% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock valued at $688,902,000 after buying an additional 1,285,881 shares in the last quarter. Eminence Capital LP grew its holdings in 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 buying an additional 494,497 shares in the last quarter. Atreides Management LP grew its holdings in GitLab by 38.9% during the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after buying an additional 1,532,107 shares in the last quarter. AQR Capital Management LLC grew its holdings in GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock valued at $203,915,000 after buying an additional 4,806,163 shares in the last quarter. Finally, Champlain Investment Partners LLC grew its holdings in GitLab by 4.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock valued at $212,024,000 after buying an additional 191,084 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

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.