Vanguard Group Inc. Sells 209,061 Shares of GitLab Inc. $GTLB

Key Points

• Vanguard trimmed its position by 1.4%, selling 209,061 GitLab shares and now holds 15,072,714 shares (about an 8.95% stake) worth roughly $565.7 million.
• Insiders have sold heavily recently — 1,330,408 shares totaling about $30.3 million over the past three months, including a 700,109-share sale by director Matthew Jacobson; insiders still own 21.36%.
• GitLab beat quarterly EPS and revenue estimates with revenue up 23.2% year-over-year but remains unprofitable, and analysts have largely downgraded the stock to a consensus "Hold" with a $37.35 target while shares trade near $24.59 (market cap $4.18B).

Vanguard Group Inc. reduced its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 1.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,072,714 shares of the company's stock after selling 209,061 shares during the quarter. Vanguard Group Inc. owned approximately 8.95% of GitLab worth $565,679,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its position in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after purchasing an additional 309 shares during the period. Quarry LP bought a new position in shares of GitLab in the third quarter worth approximately $31,000. Farther Finance Advisors LLC boosted its position in shares of GitLab by 284.3% in the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company's stock worth $41,000 after purchasing an additional 671 shares during the period. Lodestone Wealth Management LLC bought a new position in shares of GitLab in the fourth quarter worth approximately $36,000. Finally, Global Retirement Partners LLC boosted its position in shares of GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company's stock worth $44,000 after purchasing an additional 445 shares during the period. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

Shares of GitLab stock opened at $24.59 on Tuesday. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of -70.26 and a beta of 0.82. The firm's 50-day moving average is $22.72 and its two-hundred day moving average is $33.43. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $54.08.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The company's quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 earnings per share. On average, equities analysts expect that GitLab Inc. will post -0.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. UBS Group downgraded shares of GitLab from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $44.00 to $24.00 in a report on Thursday, April 16th. Bank of America downgraded shares of GitLab from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $58.00 to $27.00 in a report on Wednesday, April 22nd. Guggenheim downgraded shares of GitLab from a "buy" rating to a "neutral" rating in a report on Thursday, April 9th. TD Cowen downgraded shares of GitLab from a "buy" rating to a "hold" rating and set a $29.00 target price on the stock. in a report on Monday, March 2nd. Finally, Zacks Research downgraded shares of GitLab from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, seventeen have assigned a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, GitLab presently has a consensus rating of "Hold" and a consensus target price of $37.35.

Insider Buying and Selling

In other GitLab news, Director Matthew Jacobson sold 700,109 shares of the firm's stock in a transaction that occurred on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the completion of the transaction, the director directly owned 325 shares of the company's stock, valued at approximately $7,458.75. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,330,408 shares of company stock valued at $30,309,342 over the last three months. 21.36% of the stock is currently owned by insiders.

GitLab Profile

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.

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