GitLab (NASDAQ:GTLB) Director Sytse Sijbrandij Sells 108,600 Shares

Key Points

• Sytse Sijbrandij, a director at GitLab, sold 108,600 shares of the company's stock on October 15 for approximately $4.81 million, disclosing the transaction to the SEC.
• GitLab's stock price increased by 10.6%, reaching $48.27 per share, with significant trading volume of over 19 million shares on the same day.
• Despite a missed earnings estimate of $0.16 EPS, GitLab reported a 29.2% increase in revenue year-over-year, totaling $236 million for the quarter.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.29, for a total transaction of $4,809,894.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

Sytse Sijbrandij also recently made the following trade(s):

• On Monday, September 15th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The shares were sold at an average price of $50.14, for a total transaction of $5,445,204.00.
• On Monday, August 18th, Sytse Sijbrandij sold 108,600 shares of GitLab stock. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00.

GitLab Stock Up 10.6%

Shares of GTLB stock traded up $4.62 during trading hours on Thursday, hitting $48.27. 19,072,186 shares of the company's stock traded hands, compared to its average volume of 3,938,276. The stock's 50 day simple moving average is $46.23 and its 200 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. The stock has a market cap of $8.05 billion, a PE ratio of -1,206.75 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results 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 analyst estimates of $227.20 million. During the same quarter last year, the firm posted $0.15 EPS. The firm's revenue for the quarter 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. As a group, equities research analysts expect that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On GitLab

Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after acquiring an additional 490 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in GitLab by 64.2% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 172,866 shares of the company's stock worth $8,125,000 after purchasing an additional 67,559 shares in the last quarter. Dynamic Advisor Solutions LLC bought a new stake in GitLab during the 1st quarter worth approximately $249,000. Janney Montgomery Scott LLC grew its holdings in GitLab by 5.2% during the first quarter. Janney Montgomery Scott LLC now owns 42,552 shares of the company's stock worth $2,000,000 after buying an additional 2,106 shares in the last quarter. Finally, Blue Trust Inc. grew its holdings in GitLab by 17.7% during the first quarter. Blue Trust Inc. now owns 5,995 shares of the company's stock worth $282,000 after buying an additional 900 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on GTLB shares. Zacks Research raised GitLab from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $50.00 target price on shares of GitLab in a research note on Tuesday, June 24th. UBS Group dropped their price target on GitLab from $73.00 to $60.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of GitLab in a research report on Wednesday, October 8th. Finally, Capital One Financial lowered shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective for the company. in a research note on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have given 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $58.83.

About GitLab

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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