Susan Bostrom Sells 70,000 Shares of GitLab (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Susan Bostrom sold 70,000 shares of the firm’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $39.55, for a total transaction of $2,768,500.00. Following the completion of the sale, the director owned 79,819 shares of the company’s stock, valued at approximately $3,156,841.45. The trade was a 46.72% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

GitLab Price Performance

NASDAQ GTLB traded up $1.48 on Wednesday, hitting $40.50. 4,153,314 shares of the company’s stock were exchanged, compared to its average volume of 4,020,492. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of -150.00 and a beta of 0.75. The firm’s 50-day moving average price is $44.62 and its two-hundred day moving average price is $45.19. GitLab Inc. has a fifty-two week low of $35.81 and a fifty-two week high of $74.18.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. GitLab had a negative return on equity of 1.51% and a negative net margin of 4.70%.The firm had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. During the same period in the previous year, the business earned $0.23 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, research analysts predict that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GTLB. Wolfe Research reaffirmed an “outperform” rating and set a $50.00 price target on shares of GitLab in a research note on Wednesday, December 3rd. Needham & Company LLC lowered their target price on shares of GitLab from $55.00 to $50.00 and set a “buy” rating on the stock in a research report on Wednesday, December 3rd. KeyCorp dropped their target price on shares of GitLab from $53.00 to $49.00 and set an “overweight” rating for the company in a report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price target on GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. Finally, Guggenheim assumed coverage on GitLab in a research note on Thursday, September 11th. They issued a “buy” rating and a $70.00 price objective for the company. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $53.29.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Coronation Fund Managers Ltd. acquired a new stake in GitLab during the second quarter worth approximately $23,102,000. William Blair Investment Management LLC lifted its stake in shares of GitLab by 23.3% during the 2nd quarter. William Blair Investment Management LLC now owns 580,752 shares of the company’s stock worth $26,198,000 after purchasing an additional 109,708 shares during the period. ARK Investment Management LLC lifted its stake in shares of GitLab by 35.7% during the 2nd quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock worth $148,533,000 after purchasing an additional 866,353 shares during the period. Stephens Inc. AR acquired a new stake in shares of GitLab during the second quarter worth $295,000. Finally, Focus Partners Wealth grew its position in shares of GitLab by 42.5% in the first quarter. Focus Partners Wealth now owns 252,586 shares of the company’s stock valued at $11,871,000 after purchasing an additional 75,331 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.