Key Points
- GitLab director Sytse Sijbrandij sold 116,200 shares on June 15 at an average price of $28.44, totaling about $3.3 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- Sijbrandij has been selling the same share block repeatedly, including similar 116,200-share sales in May and April at lower prices. After the latest trade, he still owned 14.9 million shares worth about $423.8 million.
- GitLab recently reported stronger-than-expected quarterly results, with EPS of $0.23 versus $0.20 expected and revenue of $264.16 million, up 23.2% year over year. Despite the beat, Wall Street’s consensus rating remains “Hold.”
GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the transaction, the director owned 14,902,051 shares in the company, valued at $423,814,330.44. This represents a 0.77% decrease in their position. 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 Monday, May 18th, Sytse Sijbrandij sold 116,200 shares of GitLab stock. The shares were sold at an average price of $24.85, for a total transaction of $2,887,570.00.
- On Wednesday, April 15th, Sytse Sijbrandij sold 116,200 shares of GitLab stock. The shares were sold at an average price of $20.77, for a total transaction of $2,413,474.00.
GitLab Price Performance
NASDAQ GTLB opened at $26.47 on Thursday. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38. The firm has a market capitalization of $4.47 billion, a PE ratio of -165.44 and a beta of 0.96. The company's 50 day simple moving average is $25.18 and its 200 day simple moving average is $29.31.
GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The business's revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the business earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Sell-side analysts anticipate that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.
Hedge Funds Weigh In On GitLab
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allworth Financial LP boosted its stake in GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after purchasing an additional 309 shares during the period. Quarry LP acquired a new position in GitLab in the 3rd quarter worth approximately $31,000. Lodestone Wealth Management LLC acquired a new position in GitLab in the 4th quarter worth approximately $36,000. Larson Financial Group LLC boosted its stake in GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock worth $45,000 after purchasing an additional 481 shares during the period. Finally, Advisory Services Network LLC acquired a new position in GitLab in the 3rd quarter worth approximately $48,000. Institutional investors and hedge funds own 95.04% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the stock. Weiss Ratings upgraded shares of GitLab from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 3rd. Morgan Stanley lifted their price target on shares of GitLab from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research report on Wednesday, June 3rd. Mizuho lifted their price target on shares of GitLab from $26.00 to $28.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. TD Cowen restated a "hold" rating and issued a $29.00 price target on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Wells Fargo & Company decreased their price target on shares of GitLab from $45.00 to $26.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 4th. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $36.64.
Check Out Our Latest Research Report on GitLab
About GitLab
(
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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