GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction dated Monday, October 19th. The shares were sold at an average price of $53.27, for a total transaction of $6,189,974.00. Following the sale, the director owned 12,669,651 shares of the company's stock, valued at approximately $674,912,308.77. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Sytse Sijbrandij also recently made the following trade(s):
- On Monday, September 28th, Sytse Sijbrandij sold 430,000 shares of GitLab stock. The stock was sold at an average price of $45.84, for a total transaction of $19,711,200.00.
- On Friday, September 25th, Sytse Sijbrandij sold 705,490 shares of GitLab stock. The stock was sold at an average price of $47.75, for a total transaction of $33,687,147.50.
- On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The stock was sold at an average price of $48.63, for a total transaction of $47,691,927.30.
GitLab Stock Performance
Shares of NASDAQ GTLB opened at $55.45 on Thursday. The firm's 50 day moving average price is $48.28 and its 200-day moving average price is $35.40. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $57.89. The company has a market cap of $9.24 billion, a PE ratio of -173.28 and a beta of 0.98.
GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the firm earned $0.24 earnings per share. The firm's quarterly revenue was up 21.3% compared to the same quarter last year. 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, analysts forecast that GitLab Inc. will post -0.29 earnings per share for the current fiscal year.
Institutional Trading of GitLab
A number of large investors have recently made changes to their positions in the stock. Atreides Management LP purchased a new position in shares of GitLab during the second quarter valued at approximately $102,983,000. SG Americas Securities LLC lifted its position 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 valued at $67,850,000 after purchasing an additional 3,088,089 shares during the period. State Street Corp lifted its position in GitLab by 3.2% during the second quarter. State Street Corp now owns 2,632,173 shares of the company's stock valued at $80,351,000 after purchasing an additional 81,807 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in GitLab by 363.4% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company's stock worth $60,680,000 after purchasing an additional 1,558,625 shares during the last quarter. Finally, Bank of America Corp DE boosted its holdings in GitLab by 1.6% in the second quarter. Bank of America Corp DE now owns 1,987,140 shares of the company's stock worth $60,667,000 after purchasing an additional 31,492 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
GTLB has been the topic of several recent analyst reports. Mizuho increased their target price on GitLab from $34.00 to $47.00 and gave the company a "neutral" rating in a research note on Wednesday, September 2nd. Royal Bank Of Canada boosted their price target on GitLab from $46.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 2nd. Needham & Company LLC boosted their price target on GitLab from $38.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, September 2nd. Zacks Research downgraded GitLab from a "hold" rating to a "strong sell" rating in a report on Friday, September 4th. Finally, Bank of America increased their price objective on GitLab from $45.00 to $54.00 and gave the company a "neutral" rating in a research report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, GitLab currently has a consensus rating of "Hold" and a consensus price target of $51.75.
Read Our Latest Analysis on GTLB
GitLab Company Profile
(
Get Free Report)
GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.
GitLab's products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.
Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.
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