Rep. Robert Bresnahan, Jr. Sells Off Shares of GitLab Inc. (NASDAQ:GTLB)

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of GitLab Inc. NASDAQ: GTLB. In a filing disclosed on July 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in GitLab stock on June 3rd. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT #2" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Zoom Communications NASDAQ: ZM on 6/25/2025.
• Purchased $1,001 - $15,000 in shares of Coinbase Global NASDAQ: COIN on 6/24/2025.
• Purchased $1,001 - $15,000 in shares of Circle Internet Group NYSE: CRCL on 6/24/2025.
• Sold $1,001 - $15,000 in shares of Amazon.com NASDAQ: AMZN on 6/23/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 6/13/2025.
• Sold $1,001 - $15,000 in shares of Atlassian NASDAQ: TEAM on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of ServiceTitan NASDAQ: TTAN on 6/11/2025.
• Sold $1,001 - $15,000 in shares of Datadog NASDAQ: DDOG on 6/11/2025.
• Sold $1,001 - $15,000 in shares of GitLab NASDAQ: GTLB on 6/11/2025.
• Purchased $1,001 - $15,000 in shares of Broadcom NASDAQ: AVGO on 6/11/2025.

GitLab Stock Up 3.3%

Shares of NASDAQ:GTLB traded up $1.45 during midday trading on Friday, hitting $45.37. 3,304,120 shares of the stock traded hands, compared to its average volume of 2,865,663. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The stock has a market capitalization of $7.50 billion, a PE ratio of 453.70 and a beta of 0.74. The business's 50 day moving average is $45.94 and its two-hundred day moving average is $52.39.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business had revenue of $214.51 million for the quarter, compared to analysts' expectations of $213.21 million. During the same quarter in the prior year, the company earned $0.03 earnings per share. The business's revenue was up 26.8% compared to the same quarter last year. As a group, sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling at GitLab

In related news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the completion of the transaction, the director directly owned 110,389 shares in the company, valued at $4,967,505. The trade was a 2.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 129,400 shares of GitLab stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the transaction, the director owned 551,997 shares of the company's stock, valued at $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 509,950 shares of company stock worth $23,288,223 in the last quarter. 21.36% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Scotiabank dropped their price target on shares of GitLab from $80.00 to $67.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 6th. Capital One Financial cut GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a report on Wednesday. Mizuho reduced their target price on GitLab from $72.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Wells Fargo & Company reduced their target price on GitLab from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Wednesday, June 11th. Finally, KeyCorp reduced their target price on GitLab from $80.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, April 17th. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.63.

Institutional Investors Weigh In On GitLab

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in GitLab by 9,968.3% during the first quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after acquiring an additional 42,764 shares during the last quarter. Swiss National Bank increased its stake in shares of GitLab by 3.7% during the fourth quarter. Swiss National Bank now owns 215,000 shares of the company's stock worth $12,115,000 after buying an additional 7,700 shares during the period. Park Avenue Securities LLC increased its position in shares of GitLab by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock valued at $357,000 after purchasing an additional 381 shares during the last quarter. Smartleaf Asset Management LLC grew its position in shares of GitLab by 1,067.6% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company's stock valued at $71,000 after buying an additional 1,153 shares during the last quarter. Finally, Wealthcare Advisory Partners LLC boosted its stake in GitLab by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after purchasing an additional 1,065 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.