Simon Mundy Sells 2,756 Shares of GitLab (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) CAO Simon Mundy sold 2,756 shares of GitLab stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the transaction, the chief accounting officer owned 47,184 shares of the company’s stock, valued at approximately $1,812,809.28. This trade represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Simon Mundy also recently made the following trade(s):

• On Tuesday, December 16th, Simon Mundy sold 723 shares of GitLab stock. The shares were sold at an average price of $38.00, for a total value of $27,474.00.
• On Wednesday, October 1st, Simon Mundy sold 5,191 shares of GitLab stock. The shares were sold at an average price of $43.99, for a total value of $228,352.09.

GitLab Price Performance

NASDAQ GTLB traded up $0.20 on Thursday, reaching $38.07. 2,940,155 shares of the company’s stock traded hands, compared to its average volume of 4,001,365. GitLab Inc. has a 12 month low of $35.81 and a 12 month high of $74.18. The stock has a 50-day simple moving average of $43.66 and a 200 day simple moving average of $44.88. The stock has a market cap of $6.41 billion, a PE ratio of -141.00 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, December 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The company 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 firm earned $0.23 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. As a group, analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on GTLB shares. Truist Financial set a $42.00 price objective on GitLab in a research report on Wednesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of GitLab in a research report on Monday, December 1st. Weiss Ratings reissued a “sell (d-)” rating on shares of GitLab in a report on Monday. Wells Fargo & Company reduced their target price on GitLab from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 3rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $70.00 price objective on shares of GitLab in a research note on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, GitLab has a consensus rating of “Moderate Buy” and a consensus price target of $53.71.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Coronation Fund Managers Ltd. purchased a new stake in GitLab during the second quarter worth about $23,102,000. ARK Investment Management LLC increased its holdings in GitLab by 35.7% in the second quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after buying an additional 866,353 shares during the last quarter. William Blair Investment Management LLC increased its holdings in shares of GitLab by 23.3% in the 2nd quarter. William Blair Investment Management LLC now owns 580,752 shares of the company’s stock valued at $26,198,000 after acquiring an additional 109,708 shares during the last quarter. HMI Capital Management L.P. raised its holdings in GitLab by 32.3% during the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after purchasing an additional 1,430,151 shares in the last quarter. Finally, Stephens Inc. AR purchased a new stake in GitLab in the second quarter valued at $295,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Company Profile

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.