Key Points
- Director Susan Bostrom sold 30,000 shares on Dec. 9 at an average price of $39.25 for a total of $1,177,500, reducing her ownership by 37.59% to 49,819 shares (worth about $1.96M).
- GitLab beat quarterly estimates with $0.25 EPS vs. $0.20 and revenue of $244.35M (up 24.6% YoY), but remains unprofitable with a -4.7% net margin and has an average analyst rating of "Moderate Buy" with a $53.29 price target.
GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Susan Bostrom sold 30,000 shares of the company's stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $39.25, for a total transaction of $1,177,500.00. Following the completion of the sale, the director directly owned 49,819 shares of the company's stock, valued at $1,955,395.75. The trade was a 37.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
GitLab Stock Up 3.8%
NASDAQ GTLB opened at $40.50 on Thursday. The firm has a market cap of $6.75 billion, a P/E ratio of -150.00 and a beta of 0.75. GitLab Inc. has a 52-week low of $35.81 and a 52-week high of $74.18. The business's 50-day moving average price is $44.62 and its 200 day moving average price is $45.19.
GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.25 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $239.31 million. During the same period in the prior year, the business earned $0.23 EPS. The firm's revenue 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. As a group, analysts anticipate that GitLab Inc. will post -0.31 earnings per share for the current year.
Hedge Funds Weigh In On GitLab
Several institutional investors have recently added to or reduced their stakes in the business. Coronation Fund Managers Ltd. purchased a new stake in shares of GitLab during the 2nd quarter valued at about $23,102,000. William Blair Investment Management LLC grew its position in GitLab by 23.3% in the second 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 in the last quarter. ARK Investment Management LLC grew its position 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 acquiring an additional 866,353 shares in the last quarter. Stephens Inc. AR purchased a new stake in shares of GitLab during the second quarter valued at approximately $295,000. Finally, Focus Partners Wealth lifted its position in shares of GitLab by 42.5% during the first quarter. Focus Partners Wealth now owns 252,586 shares of the company's stock worth $11,871,000 after purchasing an additional 75,331 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
GTLB has been the topic of several analyst reports. UBS Group set a $42.00 target price on shares of GitLab in a report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their target price on GitLab from $52.00 to $53.00 and gave the stock a "neutral" rating in a research report on Wednesday, December 3rd. Canaccord Genuity Group reissued a "buy" rating and set a $70.00 target price on shares of GitLab in a research note on Wednesday, December 3rd. Guggenheim assumed coverage on GitLab in a report on Thursday, September 11th. They issued a "buy" rating and a $70.00 price target for the company. Finally, Mizuho set a $47.00 price objective on GitLab in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $53.29.
View Our Latest Research Report on GTLB
GitLab Company Profile
(
Get Free Report)
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.
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