GitLab (NASDAQ:GTLB) Hits New 12-Month Low – Time to Sell?

GitLab Inc. (NASDAQ:GTLB)’s share price reached a new 52-week low during trading on Monday . The stock traded as low as $22.39 and last traded at $22.4460, with a volume of 4078607 shares changing hands. The stock had previously closed at $22.69.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. UBS Group dropped their price target 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. Wells Fargo & Company dropped their target price on shares of GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 4th. TD Cowen lowered shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a research note on Monday, March 2nd. Cantor Fitzgerald reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, March 4th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of GitLab in a report on Monday, December 22nd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, GitLab currently has an average rating of “Hold” and a consensus target price of $39.62.

GitLab Trading Down 1.0%

The stock’s 50-day moving average price is $30.97 and its 200-day moving average price is $39.63. The company has a market capitalization of $3.78 billion, a P/E ratio of -63.91 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. The business had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. Sell-side analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO James Shen sold 2,538 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the sale, the chief financial officer directly owned 52,284 shares in the company, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The SEC filing for this sale provides additional information. Insiders have sold a total of 449,444 shares of company stock valued at $16,475,510 over the last quarter. Company insiders own 21.36% of the company’s stock.

Hedge Funds Weigh In On GitLab

Several institutional investors have recently modified their holdings of the company. Allworth Financial LP lifted its position in GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP acquired a new stake in shares of GitLab in the third quarter valued at approximately $31,000. Lodestone Wealth Management LLC acquired a new stake in shares of GitLab in the fourth quarter valued at approximately $36,000. Farther Finance Advisors LLC raised its holdings in shares of GitLab by 284.3% during the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after buying an additional 671 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after buying an additional 445 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

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.