Insider Selling: GitLab (NASDAQ:GTLB) Director Sells $33,687,147.50 in Stock

GitLab Inc. (NASDAQ:GTLB) Director Sytse Sijbrandij sold 705,490 shares of the business’s stock in a transaction dated Friday, September 25th. The shares were sold at an average price of $47.75, for a total value of $33,687,147.50. Following the completion of the transaction, the director owned 13,215,851 shares in the company, valued at $631,056,885.25. The trade was a 5.07% decrease in their ownership of the stock. The sale 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.

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

• On Monday, September 28th, Sytse Sijbrandij sold 430,000 shares of GitLab stock. The stock was sold at an average price of $45.84, for a total value of $19,711,200.00.
• On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The shares were sold at an average price of $48.63, for a total value of $47,691,927.30.

GitLab Trading Up 1.2%

NASDAQ GTLB opened at $47.25 on Thursday. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $55.55. The stock has a market cap of $7.87 billion, a PE ratio of -147.65 and a beta of 0.99. The stock’s 50 day moving average is $43.06 and its 200 day moving average is $32.10.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. During the same period last year, the firm posted $0.24 EPS. The company’s revenue was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, analysts forecast that GitLab Inc. will post -0.28 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on GTLB. Piper Sandler boosted their price target on shares of GitLab from $28.00 to $52.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. TD Cowen lifted their target price on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Wells Fargo & Company boosted their target price on GitLab from $40.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 2nd. Needham & Company LLC increased their price target on GitLab from $38.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $51.75.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Main Management ETF Advisors LLC increased its stake in GitLab by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock worth $1,264,000 after acquiring an additional 344 shares during the last quarter. HighTower Advisors LLC lifted its stake in shares of GitLab by 7.6% in the 2nd quarter. HighTower Advisors LLC now owns 10,291 shares of the company’s stock valued at $314,000 after purchasing an additional 727 shares during the last quarter. Siren L.L.C. boosted its holdings in shares of GitLab by 1.0% in the 1st quarter. Siren L.L.C. now owns 100,000 shares of the company’s stock worth $2,164,000 after purchasing an additional 1,000 shares during the period. Tsfg LLC purchased a new position in shares of GitLab in the 2nd quarter worth approximately $31,000. Finally, GAMMA Investing LLC increased its position in shares of GitLab by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock valued at $85,000 after purchasing an additional 1,043 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

About GitLab

GitLab Inc (NASDAQ:GTLB) develops a cloud-based DevSecOps platform that helps organizations plan, create, secure and deploy software. Its platform brings together source code management, version control, issue tracking, project planning, continuous integration and continuous delivery, enabling development, operations and security teams to collaborate in a unified environment.

GitLab’s products also include application security testing, vulnerability management, compliance tools, infrastructure as code, software supply chain security and monitoring capabilities.