GitLab Inc. (NASDAQ:GTLB) Short Interest Update

GitLab Inc. (NASDAQ:GTLB) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 15,386,598 shares, an increase of 23.8% from the February 26th total of 12,426,224 shares. Currently, 11.6% of the company’s stock are sold short. Based on an average trading volume of 9,209,745 shares, the days-to-cover ratio is currently 1.7 days.

GitLab Price Performance

Shares of GitLab stock traded up $0.84 during midday trading on Tuesday, hitting $21.64. The company had a trading volume of 5,510,604 shares, compared to its average volume of 6,181,384. GitLab has a 1-year low of $20.20 and a 1-year high of $54.08. The business’s 50 day simple moving average is $27.67 and its two-hundred day simple moving average is $37.42. The stock has a market cap of $3.68 billion, a PE ratio of -61.83 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. The firm had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, sell-side analysts expect that GitLab will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GTLB shares. UBS Group reduced their price objective on shares of GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Rosenblatt Securities lowered their target price on shares of GitLab from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Truist Financial dropped their target price on shares of GitLab from $35.00 to $25.00 and set a “hold” rating on the stock in a report on Wednesday, March 4th. Guggenheim cut their target price on shares of GitLab from $60.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, Macquarie Infrastructure cut shares of GitLab from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $70.00 to $40.00 in a report on Wednesday, December 3rd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $39.62.

Insider Activity

In related news, CFO James Shen sold 2,538 shares of the business’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the sale, the chief financial officer directly owned 52,284 shares in the company, valued at approximately $1,990,974.72. The trade was a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 1,271,046 shares of company stock valued at $29,945,143. Insiders own 21.36% of the company’s stock.

Institutional Trading of GitLab

Institutional investors and hedge funds have recently modified their holdings of the company. Allworth Financial LP boosted its stake in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after buying an additional 309 shares in the last quarter. Quarry LP acquired a new position in shares of GitLab in the 3rd quarter valued at $31,000. Farther Finance Advisors LLC raised its stake in shares of GitLab by 284.3% in the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after buying an additional 671 shares in the last quarter. Lodestone Wealth Management LLC bought a new position in shares of GitLab during the 4th quarter worth about $36,000. Finally, Global Retirement Partners LLC lifted its holdings in shares of GitLab by 84.1% during the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after acquiring an additional 445 shares during the period. 95.04% of the stock is currently owned by institutional investors.

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.