GitLab (NASDAQ:GTLB) Director Karen Blasing Sells 3,250 Shares

Key Points

• Karen Blasing, a director at GitLab, sold 3,250 shares of the company's stock at an average price of $45.26 for a total of $147,095, reducing her holdings by 3.23% to 97,389 shares.
• GitLab recently reported $236 million in revenue for the quarter, exceeding analysts' expectations, but missed EPS estimates, resulting in a loss of $0.03 compared to the expected profit of $0.16.
• Analysts have given GitLab a consensus rating of "Moderate Buy" with a target price of $58.83, reflecting mixed sentiments about the company's outlook.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $45.26, for a total transaction of $147,095.00. Following the completion of the transaction, the director directly owned 97,389 shares in the company, valued at $4,407,826.14. This represents a 3.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Karen Blasing also recently made the following trade(s):

• On Monday, September 15th, Karen Blasing sold 3,250 shares of GitLab stock. The stock was sold at an average price of $50.08, for a total transaction of $162,760.00.
• On Monday, August 18th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00.
• On Friday, July 18th, Karen Blasing sold 3,250 shares of GitLab stock. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00.

GitLab Price Performance

NASDAQ GTLB traded up $4.62 during trading on Thursday, reaching $48.27. 19,072,186 shares of the company's stock traded hands, compared to its average volume of 3,938,276. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of -1,206.75 and a beta of 0.73. The company's 50 day simple moving average is $46.23 and its two-hundred day simple moving average is $45.71. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18.

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

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Needham & Company LLC restated a "buy" rating and set a $55.00 price objective on shares of GitLab in a research note on Thursday, September 4th. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 price objective on shares of GitLab in a research note on Tuesday, June 24th. Guggenheim assumed coverage on shares of GitLab in a research note on Thursday, September 11th. They set a "buy" rating and a $70.00 price objective for the company. DA Davidson decreased their price objective on shares of GitLab from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, September 4th. Finally, Barclays decreased their price objective 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. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.83.

Hedge Funds Weigh In On GitLab

A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in GitLab by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock worth $631,936,000 after acquiring an additional 302,864 shares during the period. Eminence Capital LP raised its position in GitLab by 148.9% during the second quarter. Eminence Capital LP now owns 6,218,607 shares of the company's stock worth $280,521,000 after acquiring an additional 3,720,406 shares during the period. HMI Capital Management L.P. raised its position in GitLab by 32.3% during the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company's stock worth $264,283,000 after acquiring an additional 1,430,151 shares during the period. Champlain Investment Partners LLC raised its position in GitLab by 251.3% during the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company's stock worth $203,545,000 after acquiring an additional 3,227,717 shares during the period. Finally, Atreides Management LP raised its position in GitLab by 867.3% during the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock worth $177,652,000 after acquiring an additional 3,531,070 shares during the period. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.