Cwm LLC Sells 17,698 Shares of GitLab Inc. $GTLB

Key Points

• Cwm LLC reduced its holdings in GitLab Inc. by 22.8% after selling 17,698 shares, leaving it with 59,785 shares valued at approximately $2.7 million.
• Insiders, including Director Sytse Sijbrandij and CAO Simon Mundy, have sold significant amounts of stock recently, with total sales exceeding $59 million in the last ninety days.
• GitLab reported a quarterly earnings miss with earnings per share of ($0.03), significantly below the expected $0.16, despite revenue growth of 29.2% year-over-year.

Cwm LLC lessened its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 22.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,785 shares of the company's stock after selling 17,698 shares during the quarter. Cwm LLC's holdings in GitLab were worth $2,697,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management bought a new stake in GitLab during the 2nd quarter valued at $16,936,000. Blue Trust Inc. increased its stake in GitLab by 41.3% during the 2nd quarter. Blue Trust Inc. now owns 8,468 shares of the company's stock valued at $382,000 after purchasing an additional 2,473 shares in the last quarter. IFP Advisors Inc increased its stake in GitLab by 19.4% during the 2nd quarter. IFP Advisors Inc now owns 5,732 shares of the company's stock valued at $259,000 after purchasing an additional 933 shares in the last quarter. Blair William & Co. IL increased its stake in GitLab by 99.6% during the 2nd quarter. Blair William & Co. IL now owns 113,745 shares of the company's stock valued at $5,131,000 after purchasing an additional 56,769 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its stake in GitLab by 33.6% during the 2nd quarter. Vontobel Holding Ltd. now owns 11,758 shares of the company's stock valued at $530,000 after purchasing an additional 2,956 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Activity at GitLab

In related news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Simon Mundy sold 5,191 shares of the company's stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the completion of the transaction, the chief accounting officer owned 53,507 shares in the company, valued at approximately $2,353,772.93. This trade represents a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,224,362 shares of company stock valued at $59,828,897 in the last ninety days. 16.37% of the stock is currently owned by company insiders.

GitLab Stock Down 6.1%

Shares of GTLB opened at $45.31 on Friday. The business's 50-day moving average price is $46.33 and its 200-day moving average price is $45.67. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The stock has a market cap of $7.55 billion, a PE ratio of -1,132.75 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $227.20 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The company's quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have commented on GTLB. Mizuho lowered shares of GitLab from an "outperform" rating to a "neutral" rating and set a $52.00 price target for the company. in a research note on Tuesday, October 7th. Piper Sandler reduced their target price on shares of GitLab from $85.00 to $70.00 and set an "overweight" rating for the company in a research note on Thursday, September 4th. Capital One Financial lowered shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price for the company. in a research note on Wednesday, July 16th. Barclays reduced their target price on shares of GitLab from $47.00 to $44.00 and set an "equal weight" rating for the company in a research note on Friday, September 5th. Finally, FBN Securities upgraded shares of GitLab to a "strong-buy" rating in a research note on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $58.83.

GitLab Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.

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