26,983 GitLab Inc. $GTLB Shares Sold by Taylor Frigon Capital Management LLC

Key Points

• Taylor Frigon Capital Management reduced its GitLab stake by 26.2%, selling 26,983 shares in the third quarter and retaining 76,152 shares valued at approximately $3.6 million.
• GitLab shares rose 3.2% to $56.28, near their 12-month high, after the company exceeded quarterly earnings and revenue expectations; revenue increased 21.3% year over year.
• Institutional ownership remains high at 95.04%, but insiders sold about 2.29 million shares worth nearly $110 million over the past 90 days. Analyst sentiment is mixed, with a consensus “Hold” rating and an average price target of $52.33.

Taylor Frigon Capital Management LLC cut its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 26.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,152 shares of the company's stock after selling 26,983 shares during the period. GitLab makes up 1.8% of Taylor Frigon Capital Management LLC's portfolio, making the stock its 5th biggest position. Taylor Frigon Capital Management LLC's holdings in GitLab were worth $3,598,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of GTLB. Sterling Capital Management LLC boosted its holdings in shares of GitLab by 4.9% during the 3rd quarter. Sterling Capital Management LLC now owns 4,499 shares of the company's stock valued at $213,000 after acquiring an additional 210 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of GitLab by 24.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company's stock worth $103,000 after acquiring an additional 433 shares during the period. Strengthening Families & Communities LLC grew its stake in shares of GitLab by 2.2% in the third quarter. Strengthening Families & Communities LLC now owns 28,505 shares of the company's stock worth $1,347,000 after acquiring an additional 622 shares during the period. HighTower Advisors LLC raised its holdings in shares of GitLab by 7.6% during the second quarter. HighTower Advisors LLC now owns 10,291 shares of the company's stock valued at $314,000 after purchasing an additional 727 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings in shares of GitLab by 27.3% during the third quarter. GAMMA Investing LLC now owns 3,524 shares of the company's stock valued at $167,000 after purchasing an additional 755 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Up 3.2%

Shares of NASDAQ GTLB opened at $56.28 on Friday. The firm has a 50 day moving average of $48.78 and a 200 day moving average of $35.77. The firm has a market capitalization of $9.38 billion, a price-to-earnings ratio of -175.87 and a beta of 0.98. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $57.89.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, topping analysts' consensus estimates of $0.18 by $0.06. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The business had revenue of $286.25 million during the quarter, compared to analysts' expectations of $273.13 million. During the same quarter in the prior year, the business posted $0.24 earnings per share. The business's quarterly revenue was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Sell-side analysts predict that GitLab Inc. will post -0.29 EPS for the current year.

Insider Activity at GitLab

In related news, CAO Simon Mundy sold 8,725 shares of the stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the completion of the sale, the chief accounting officer directly owned 105,332 shares of the company's stock, valued at approximately $4,002,616. This represents a 7.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of GitLab stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the transaction, the chief technology officer directly owned 377,211 shares in the company, valued at $17,268,719.58. This represents a 12.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 2,293,040 shares of company stock worth $109,988,468. 10.64% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GTLB. Barclays increased their price objective on shares of GitLab from $25.00 to $47.00 and gave the company an "underweight" rating in a research report on Wednesday, September 2nd. BTIG Research lifted their target price on shares of GitLab from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Cantor Fitzgerald boosted their target price on shares of GitLab from $35.00 to $50.00 and gave the company a "neutral" rating in a research note on Monday, August 31st. Zacks Research cut GitLab from a "hold" rating to a "strong sell" rating in a report on Friday, September 4th. Finally, Needham & Company LLC increased their price target on GitLab from $38.00 to $65.00 and gave the company a "buy" rating in a 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 issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $52.33.

GitLab Profile

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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