Matthew Jacobson Sells 459,799 Shares of GitLab (NASDAQ:GTLB) Stock

GitLab Inc. (NASDAQ:GTLB) Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction on Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Matthew Jacobson also recently made the following trade(s):

• On Thursday, March 19th, Matthew Jacobson sold 700,109 shares of GitLab stock. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55.

GitLab Stock Up 0.1%

GitLab stock traded up $0.02 during trading hours on Monday, reaching $22.27. 4,563,250 shares of the company’s stock were exchanged, compared to its average volume of 6,284,621. The firm’s 50 day simple moving average is $29.59 and its 200 day simple moving average is $38.74. GitLab Inc. has a twelve month low of $21.77 and a twelve month high of $54.08. The firm has a market capitalization of $3.75 billion, a PE ratio of -63.63 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $252.31 million. During the same period in the previous year, the business earned $0.33 EPS. The firm’s revenue was up 23.2% compared to the same quarter last year. Analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in GTLB. Rockefeller Capital Management L.P. boosted its holdings in GitLab by 12.7% during the 4th quarter. Rockefeller Capital Management L.P. now owns 23,824 shares of the company’s stock worth $894,000 after acquiring an additional 2,676 shares during the last quarter. Alpine Global Management LLC purchased a new stake in shares of GitLab in the fourth quarter valued at about $338,000. Pacer Advisors Inc. purchased a new stake in shares of GitLab in the fourth quarter valued at about $14,788,000. Kera Capital Partners Inc. bought a new position in shares of GitLab during the fourth quarter valued at about $224,000. Finally, Invesco Ltd. lifted its position in shares of GitLab by 16.0% during the fourth quarter. Invesco Ltd. now owns 167,136 shares of the company’s stock valued at $6,273,000 after purchasing an additional 23,035 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays cut their price target on GitLab from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, March 4th. DA Davidson set a $24.00 target price on shares of GitLab in a research report on Thursday, March 5th. BTIG Research cut their target price on shares of GitLab from $32.00 to $30.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. KeyCorp cut shares of GitLab from an “overweight” rating to a “sector weight” rating in a report on Tuesday, December 16th. Finally, William Blair reaffirmed an “underperform” rating on shares of GitLab in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.62.

About GitLab

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.