Key Points
- GitLab CAO Simon Mundy sold 8,725 shares at an average price of $38, generating $331,550. The transaction, conducted under a Rule 10b5-1 plan, reduced his direct holdings by 7.65% to 105,332 shares.
- GitLab’s latest quarterly results exceeded expectations, with EPS of $0.23 versus the $0.20 consensus and revenue of $264.16 million, up 23.2% year over year.
- Analysts maintain a consensus “Hold” rating with an average price target of $36.58, while institutional investors own approximately 95.04% of the company’s shares.
GitLab Inc. (NASDAQ:GTLB - Get Free Report) CAO Simon Mundy sold 8,725 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the transaction, the chief accounting officer directly owned 105,332 shares in the company, valued at $4,002,616. The trade was a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GitLab Price Performance
Shares of GTLB opened at $42.11 on Wednesday. The firm has a market capitalization of $7.11 billion, a PE ratio of -263.19 and a beta of 0.94. The company's 50-day moving average is $31.78 and its 200-day moving average is $27.93. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $52.38.
GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the prior year, the business earned $0.17 EPS. GitLab's quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Analysts predict that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.
Institutional Trading of GitLab
Large investors have recently made changes to their positions in the company. AQR Capital Management LLC boosted its stake in GitLab by 766.3% in the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock valued at $203,915,000 after buying an additional 4,806,163 shares in the last quarter. Atreides Management LP raised its stake in GitLab by 867.3% during the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock worth $177,652,000 after acquiring an additional 3,531,070 shares in the last quarter. SG Americas Securities LLC raised its stake in GitLab by 6,528.0% during the first quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company's stock worth $67,850,000 after acquiring an additional 3,088,089 shares in the last quarter. Norges Bank bought a new position in shares of GitLab in the fourth quarter worth about $81,379,000. Finally, Technology Crossover Management X Ltd. lifted its holdings in shares of GitLab by 491.4% in the fourth quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company's stock worth $72,137,000 after acquiring an additional 1,597,114 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. BTIG Research restated a "buy" rating and set a $36.00 target price on shares of GitLab in a research report on Thursday, June 11th. Raymond James Financial reiterated a "market perform" rating on shares of GitLab in a research note on Tuesday, May 19th. Needham & Company LLC increased their price target on GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a research report on Wednesday, June 3rd. TD Cowen restated a "hold" rating and set a $29.00 price objective on shares of GitLab in a research note on Wednesday, June 3rd. Finally, Zacks Research cut GitLab from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, GitLab presently has an average rating of "Hold" and a consensus target price of $36.58.
Read Our Latest Analysis on GTLB
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
