GitLab (NASDAQ:GTLB) Director Matthew Jacobson Sells 459,799 Shares

GitLab Inc. (NASDAQ:GTLB) Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Matthew Jacobson also recently made the following trade(s):

• On Thursday, March 19th, Matthew Jacobson sold 700,109 shares of GitLab stock. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55.

GitLab Trading Up 0.1%

Shares of NASDAQ:GTLB traded up $0.02 on Monday, reaching $22.27. 4,563,250 shares of the company’s stock were exchanged, compared to its average volume of 6,284,621. GitLab Inc. has a twelve month low of $21.77 and a twelve month high of $54.08. The company has a fifty day moving average of $29.59 and a 200-day moving average of $38.74. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of -63.63 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results 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. The company had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.33 earnings per share. As a group, equities research analysts forecast that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Institutional Trading of GitLab

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

Analysts Set New Price Targets

GTLB has been the subject of a number of recent analyst reports. Wolfe Research reiterated an “outperform” rating and set a $50.00 target price on shares of GitLab in a research report on Wednesday, December 3rd. Canaccord Genuity Group decreased their price target on GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. William Blair reaffirmed an “underperform” rating on shares of GitLab in a research report on Monday. Piper Sandler downgraded shares of GitLab from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $28.00 in a research note on Wednesday, March 4th. Finally, Bank of America decreased their target price on shares of GitLab from $72.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.62.

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.