GitLab (NASDAQ:GTLB) Director Sells $19,711,200.00 in Stock

Key Points

• GitLab director Sytse Sijbrandij sold 430,000 shares for approximately $19.7 million at an average price of $45.84 under a pre-arranged Rule 10b5-1 trading plan. He retained 12.8 million shares, while also having sold more than $81 million in shares over the prior two trading days.
• GitLab reported quarterly revenue of $286.25 million, up 21.3% year over year and above estimates, while adjusted EPS of $0.24 exceeded consensus by $0.06. Despite the earnings beat, the company maintains negative net margins and analysts project a full-year loss.
• The stock traded near $46.21, with a consensus analyst rating of “Hold” and an average price target of $51.75. Institutional investors own 95.04% of GitLab’s outstanding shares.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 430,000 shares of the company's stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.84, for a total transaction of $19,711,200.00. Following the completion of the sale, the director directly owned 12,785,851 shares in the company, valued at $586,103,409.84. This represents a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Friday, September 25th, Sytse Sijbrandij sold 705,490 shares of GitLab stock. The stock was sold at an average price of $47.75, for a total transaction of $33,687,147.50.
• On Thursday, September 24th, Sytse Sijbrandij sold 980,710 shares of GitLab stock. The shares were sold at an average price of $48.63, for a total transaction of $47,691,927.30.

GitLab Price Performance

NASDAQ:GTLB traded down $0.64 during mid-day trading on Monday, hitting $46.21. 5,194,505 shares of the company's stock were exchanged, compared to its average volume of 5,771,827. GitLab Inc. has a one year low of $18.73 and a one year high of $55.55. The business has a fifty day moving average price of $42.22 and a 200 day moving average price of $31.60. The company has a market cap of $7.70 billion, a PE ratio of -144.40 and a beta of 0.99.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. During the same quarter last year, the firm earned $0.24 earnings per share. The business's revenue for the quarter was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, equities analysts forecast that GitLab Inc. will post -0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On GitLab

A number of hedge funds have recently added to or reduced their stakes in the company. Atreides Management LP bought a new position in GitLab in the 2nd quarter valued at approximately $102,983,000. SG Americas Securities LLC boosted its stake in GitLab by 6,528.0% during the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company's stock valued at $67,850,000 after purchasing an additional 3,088,089 shares during the last quarter. Norges Bank bought a new stake in shares of GitLab in the 4th quarter worth $81,379,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of GitLab by 363.4% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company's stock worth $60,680,000 after purchasing an additional 1,558,625 shares in the last quarter. Finally, Capital World Investors purchased a new position in shares of GitLab in the fourth quarter worth $31,873,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Rosenblatt Securities raised their price objective on GitLab from $43.00 to $55.00 and gave the company a "buy" rating in a research report on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on GitLab from $40.00 to $50.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 2nd. Weiss Ratings cut GitLab from a "sell (d)" rating to a "sell (e+)" rating in a research note on Wednesday, September 2nd. TD Cowen raised their price target on GitLab from $29.00 to $42.00 and gave the company a "hold" rating in a report on Thursday, August 27th. Finally, Robert W. Baird lifted their price target on GitLab from $47.00 to $59.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 2nd. Seven research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $51.75.

GitLab Company Profile

GitLab Inc NASDAQ: GTLB develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.

GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.

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