GitLab Inc. (NASDAQ:GTLB) Short Interest Update

Key Points

• Short interest in GitLab jumped 23.8% in March to 15,386,598 shares, representing about 11.6% of shares sold short and a days-to-cover ratio of 1.7.
• Insiders have been selling sizable stakes — Director Sytse Sijbrandij sold 54,300 shares and Director Matthew Jacobson sold 459,799 shares — with insiders disposing of 1,271,046 shares (~$29.95M) over the last 90 days while owning 21.36% of the stock.
• Shares trade near $20.80 (12‑month low $20.20) after GitLab beat quarterly revenue and EPS estimates, but Wall Street’s consensus rating is a Hold with a $39.62 price target.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) saw a significant growth in short interest in March. As of March 13th, there was short interest totaling 15,386,598 shares, a growth of 23.8% from the February 26th total of 12,426,224 shares. Based on an average daily trading volume, of 9,209,745 shares, the days-to-cover ratio is currently 1.7 days. Approximately 11.6% of the shares of the company are sold short.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 54,300 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 1,271,046 shares of company stock valued at $29,945,143. 21.36% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in GitLab by 9.2% during the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock worth $688,902,000 after acquiring an additional 1,285,881 shares in the last quarter. Eminence Capital LP boosted its stake in shares of GitLab by 6.9% in the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company's stock valued at $289,065,000 after purchasing an additional 494,497 shares in the last quarter. HMI Capital Management L.P. grew its holdings in shares of GitLab by 32.3% during the 2nd quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company's stock valued at $264,283,000 after purchasing an additional 1,430,151 shares during the last quarter. Atreides Management LP grew its holdings in shares of GitLab by 38.9% during the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company's stock valued at $246,601,000 after purchasing an additional 1,532,107 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock worth $203,915,000 after purchasing an additional 4,806,163 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

GitLab Price Performance

GTLB traded up $0.45 during trading on Monday, hitting $20.80. 5,308,247 shares of the stock traded hands, compared to its average volume of 6,192,534. GitLab has a twelve month low of $20.20 and a twelve month high of $54.08. The company has a market cap of $3.54 billion, a price-to-earnings ratio of -59.43 and a beta of 0.79. The business has a 50 day moving average price of $27.90 and a 200 day moving average price of $37.63.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. During the same quarter last year, the business posted $0.33 EPS. The company's revenue was up 23.2% compared to the same quarter last year. On average, equities research analysts predict that GitLab will post -0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

GTLB has been the topic of a number of analyst reports. Piper Sandler lowered shares of GitLab from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th. Sanford C. Bernstein reduced their price target on GitLab from $70.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. TD Cowen lowered GitLab from a "buy" rating to a "hold" rating and set a $29.00 price objective on the stock. in a research note on Monday, March 2nd. Canaccord Genuity Group dropped their price objective on GitLab from $70.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, William Blair reiterated an "underperform" rating on shares of GitLab in a research report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $39.62.

GitLab Company 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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