GitLab (NASDAQ:GTLB) CAO Simon Mundy Sells 8,725 Shares

GitLab Inc. (NASDAQ:GTLB) CAO Simon Mundy sold 8,725 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the transaction, the chief accounting officer owned 105,332 shares of the company’s stock, valued at $4,002,616. This represents a 7.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $42.11 on Wednesday. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $52.38. The company’s fifty day moving average is $31.78 and its 200-day moving average is $27.93. The company has a market capitalization of $7.11 billion, a PE ratio of -263.19 and a beta of 0.94.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the prior year, the firm earned $0.17 EPS. The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts forecast that GitLab Inc. will post -0.18 EPS for the current year.

Hedge Funds Weigh In On GitLab

Institutional investors have recently modified their holdings of the stock. Allworth Financial LP grew its stake in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares in the last quarter. Main Management ETF Advisors LLC raised its position in GitLab by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock worth $1,264,000 after acquiring an additional 344 shares in the last quarter. Utah Retirement Systems raised its position in GitLab by 6.6% during the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company’s stock worth $278,000 after acquiring an additional 460 shares in the last quarter. Larson Financial Group LLC lifted its stake in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after acquiring an additional 481 shares during the last quarter. Finally, Quarry LP lifted its stake in GitLab by 72.5% in the fourth quarter. Quarry LP now owns 1,202 shares of the company’s stock valued at $45,000 after acquiring an additional 505 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GTLB shares. Mizuho raised their price objective on shares of GitLab from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Truist Financial boosted their target price on GitLab from $25.00 to $30.00 and gave the stock a “hold” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. increased their price target on GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Needham & Company LLC raised their price target on GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Finally, Bank of America reiterated a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.58.

GitLab Company Profile

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.