Key Points
- GitLab Director Sytse Sijbrandij sold 116,200 shares on May 18 at an average price of $24.85, raising about $2.89 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Despite the sale, Sijbrandij remains a major shareholder, still holding about 15.0 million shares valued at roughly $373.2 million. The transaction reduced his ownership by only 0.77%.
- GitLab’s recent financial and analyst backdrop is mixed: the company beat quarterly EPS and revenue estimates, but several firms have cut ratings or price targets, and the stock currently carries a consensus Hold rating.
GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the sale, the director owned 15,018,251 shares in the company, valued at $373,203,537.35. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sytse Sijbrandij also recently made the following trade(s):
- On Wednesday, April 15th, Sytse Sijbrandij sold 116,200 shares of GitLab stock. The stock was sold at an average price of $20.77, for a total value of $2,413,474.00.
- On Tuesday, February 17th, Sytse Sijbrandij sold 54,300 shares of GitLab stock. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00.
GitLab Price Performance
NASDAQ GTLB opened at $25.09 on Tuesday. The stock has a market capitalization of $4.27 billion, a price-to-earnings ratio of -71.69 and a beta of 0.82. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38. The business's fifty day moving average is $22.40 and its 200-day moving average is $31.80.
GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million for the quarter, compared to analysts' expectations of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The business's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.33 EPS. Research analysts expect that GitLab Inc. will post -0.28 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of research firms have recently commented on GTLB. Cantor Fitzgerald lowered their target price on GitLab from $30.00 to $27.00 and set a "neutral" rating on the stock in a research note on Wednesday, May 13th. Bank of America cut GitLab from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $58.00 to $27.00 in a research note on Wednesday, April 22nd. Zacks Research cut GitLab from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 2nd. UBS Group cut GitLab from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $44.00 to $24.00 in a research note on Thursday, April 16th. Finally, William Blair restated an "underperform" rating on shares of GitLab in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have issued a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $37.08.
View Our Latest Research Report on GitLab
Institutional Investors Weigh In On GitLab
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Amundi grew its holdings in GitLab by 66.5% during the 1st quarter. Amundi now owns 97,157 shares of the company's stock valued at $2,102,000 after buying an additional 38,819 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in GitLab by 28.5% during the 1st quarter. EverSource Wealth Advisors LLC now owns 7,731 shares of the company's stock valued at $167,000 after buying an additional 1,713 shares in the last quarter. California State Teachers Retirement System grew its holdings in GitLab by 21.7% during the 1st quarter. California State Teachers Retirement System now owns 154,699 shares of the company's stock valued at $3,348,000 after buying an additional 27,624 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in GitLab by 6.8% during the 1st quarter. The Manufacturers Life Insurance Company now owns 38,206 shares of the company's stock valued at $827,000 after buying an additional 2,445 shares in the last quarter. Finally, Quantinno Capital Management LP grew its holdings in GitLab by 300.8% during the 1st quarter. Quantinno Capital Management LP now owns 62,674 shares of the company's stock valued at $1,356,000 after buying an additional 47,035 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.
GitLab Company Profile
(
Get Free Report)
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.
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