Insider Selling: GitLab (NASDAQ:GTLB) Director Sells 70,000 Shares of Stock

GitLab Inc. (NASDAQ:GTLB) Director Susan Bostrom sold 70,000 shares of GitLab stock in a transaction on Monday, December 8th. The shares were sold at an average price of $39.55, for a total transaction of $2,768,500.00. Following the completion of the transaction, the director owned 79,819 shares in the company, valued at approximately $3,156,841.45. This trade represents a 46.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

GitLab Stock Up 3.8%

Shares of GTLB stock traded up $1.48 on Wednesday, reaching $40.50. 4,153,314 shares of the stock were exchanged, compared to its average volume of 4,020,492. The stock has a market cap of $6.75 billion, a P/E ratio of -150.00 and a beta of 0.75. The firm has a 50 day moving average of $44.62 and a two-hundred day moving average of $45.19. GitLab Inc. has a 1-year low of $35.81 and a 1-year high of $74.18.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.05. The firm had revenue of $244.35 million for the quarter, compared to analysts’ expectations of $239.31 million. GitLab had a negative return on equity of 1.51% and a negative net margin of 4.70%.The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, equities research analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Hedge Funds Weigh In On GitLab

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Coronation Fund Managers Ltd. acquired a new position in shares of GitLab in the second quarter worth about $23,102,000. William Blair Investment Management LLC grew its stake in GitLab by 23.3% during the 2nd quarter. William Blair Investment Management LLC now owns 580,752 shares of the company’s stock valued at $26,198,000 after purchasing an additional 109,708 shares in the last quarter. ARK Investment Management LLC raised its position in shares of GitLab by 35.7% in the 2nd quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after purchasing an additional 866,353 shares in the last quarter. Stephens Inc. AR purchased a new position in shares of GitLab during the 2nd quarter valued at approximately $295,000. Finally, Focus Partners Wealth boosted its stake in shares of GitLab by 42.5% during the 1st quarter. Focus Partners Wealth now owns 252,586 shares of the company’s stock valued at $11,871,000 after buying an additional 75,331 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GTLB. JPMorgan Chase & Co. increased their target price on shares of GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Macquarie lowered shares of GitLab from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Piper Sandler restated an “overweight” rating on shares of GitLab in a report on Wednesday, December 3rd. DA Davidson reaffirmed a “neutral” rating and set a $45.00 price target on shares of GitLab in a research report on Monday, December 1st. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of GitLab in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average target price of $53.29.

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.