Insider Selling: GitLab (NASDAQ:GTLB) Director Sells 116,200 Shares of Stock

Key Points

• Director Sytse Sijbrandij sold 116,200 shares of GitLab on April 15 at an average price of $20.77 for about $2.41M, disclosed in an SEC filing and executed under a pre-arranged Rule 10b5-1 trading plan; he also sold 54,300 shares in February.
• Recent results: GitLab beat the quarter's estimates with EPS $0.30 (vs. $0.23) and revenue $260.4M (up 23.2% YoY), but remains unprofitable with a negative net margin (~-5.9%).
• Market and analyst backdrop: Shares trade near $21.83 (12‑month range $18.73–$54.08) with a ~$3.7B market cap; analysts' consensus is a "Hold" with a $38.85 target and several firms recently cut price targets, while institutional investors own ~95% of the stock.

GitLab Inc. (NASDAQ:GTLB - Get Free Report) Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, February 17th, Sytse Sijbrandij sold 54,300 shares of GitLab stock. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00.

GitLab Trading Up 0.3%

Shares of NASDAQ:GTLB traded up $0.07 during trading on Thursday, reaching $21.83. The company's stock had a trading volume of 4,818,527 shares, compared to its average volume of 6,289,435. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $54.08. The firm's 50 day simple moving average is $24.56 and its two-hundred day simple moving average is $35.38. The stock has a market capitalization of $3.71 billion, a PE ratio of -62.37 and a beta of 0.85.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. The company had revenue of $260.40 million for the quarter, compared to analysts' expectations of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm's revenue for the quarter was up 23.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.33 earnings per share. Research analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On GitLab

A number of institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC boosted its stake in GitLab by 766.3% in 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. Atreides Management LP lifted its position in GitLab by 867.3% during the 2nd 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. Norges Bank purchased a new stake in GitLab during the 4th quarter valued at about $81,379,000. Technology Crossover Management X Ltd. increased its holdings in shares of GitLab by 491.4% in the fourth quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company's stock valued at $72,137,000 after purchasing an additional 1,597,114 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of GitLab by 9.2% in the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock valued at $688,902,000 after purchasing an additional 1,285,881 shares during the period. Institutional investors own 95.04% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on GTLB. UBS Group downgraded GitLab from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $44.00 to $24.00 in a research report on Thursday. Royal Bank Of Canada cut their price objective on shares of GitLab from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Canaccord Genuity Group lowered their target price on shares of GitLab from $70.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. BTIG Research dropped their price target on shares of GitLab from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of GitLab in a report on Monday, December 22nd. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, fifteen have given a Hold rating and four have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $38.85.

About GitLab

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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