Key Points
- GitLab CTO Sivaprasad Padisetty sold 51,915 shares at an average price of $45.78, totaling approximately $2.38 million. The transaction was conducted under a pre-arranged Rule 10b5-1 plan, reducing his ownership by 12.1%.
- GitLab’s latest quarterly results exceeded expectations, with adjusted EPS of $0.24 versus the $0.18 consensus and revenue of $286.25 million, up 21.3% year over year.
- Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $51.75 price target, while institutional investors own approximately 95.04% of GitLab’s shares.
GitLab Inc. (NASDAQ:GTLB - Get Free Report) CTO Sivaprasad Padisetty sold 51,915 shares of the firm's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.78, for a total value of $2,376,668.70. Following the sale, the chief technology officer owned 377,211 shares of the company's stock, valued at $17,268,719.58. The trade was a 12.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
GitLab Price Performance
NASDAQ:GTLB opened at $46.21 on Tuesday. The stock has a market cap of $7.70 billion, a PE ratio of -144.40 and a beta of 0.99. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $55.55. The stock's 50-day moving average is $42.46 and its two-hundred day moving average is $31.76.
GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. The business had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The firm's revenue was up 21.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. 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, equities research analysts anticipate that GitLab Inc. will post -0.28 earnings per share for the current year.
Analyst Upgrades and Downgrades
GTLB has been the subject of a number of research analyst reports. Sanford C. Bernstein reiterated an "outperform" rating on shares of GitLab in a research report on Wednesday, September 2nd. Rosenblatt Securities upped their price target on shares of GitLab from $43.00 to $55.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Needham & Company LLC increased their price objective on GitLab from $38.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, September 2nd. Piper Sandler lifted their price objective on GitLab from $28.00 to $52.00 and gave the company a "neutral" rating in a research report on Wednesday, September 2nd. Finally, Barclays lifted their price objective on GitLab from $25.00 to $47.00 and gave the company an "underweight" rating in a research report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat.com, GitLab has a consensus rating of "Hold" and a consensus price target of $51.75.
Get Our Latest Stock Analysis on GTLB
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in GTLB. Main Management ETF Advisors LLC raised its position in shares of GitLab by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company's stock valued at $1,264,000 after purchasing an additional 344 shares during the period. HighTower Advisors LLC boosted its holdings in shares of GitLab by 7.6% during the 2nd quarter. HighTower Advisors LLC now owns 10,291 shares of the company's stock worth $314,000 after buying an additional 727 shares during the period. Siren L.L.C. grew its stake in GitLab by 1.0% in the 1st quarter. Siren L.L.C. now owns 100,000 shares of the company's stock valued at $2,164,000 after buying an additional 1,000 shares during the last quarter. Tsfg LLC acquired a new position in GitLab in the 2nd quarter valued at $31,000. Finally, GAMMA Investing LLC lifted its position in GitLab by 60.4% during the 2nd quarter. GAMMA Investing LLC now owns 2,769 shares of the company's stock worth $85,000 after acquiring an additional 1,043 shares during the last quarter. 95.04% of the stock is owned by institutional investors.
GitLab Company Profile
(
Get Free Report)
GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.
GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.
Featured Articles
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].
