GitLab (NASDAQ:GTLB) Director Matthew Jacobson Sells 700,109 Shares
by Amy Steele · The Cerbat GemGitLab Inc. (NASDAQ:GTLB – Get Free Report) Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the transaction, the director directly owned 325 shares of the company’s stock, valued at approximately $7,458.75. This trade represents a 99.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Matthew Jacobson also recently made the following trade(s):
- On Friday, March 20th, Matthew Jacobson sold 459,799 shares of GitLab stock. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63.
GitLab Price Performance
Shares of NASDAQ GTLB traded up $0.02 during midday trading on Monday, reaching $22.27. 4,563,250 shares of the company traded hands, compared to its average volume of 6,284,621. The company has a market cap of $3.75 billion, a price-to-earnings ratio of -63.63 and a beta of 0.79. The stock has a 50-day moving average price of $29.59 and a 200 day moving average price of $38.74. GitLab Inc. has a 52 week low of $21.77 and a 52 week high of $54.08.
GitLab (NASDAQ:GTLB – Get Free Report) last announced its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. GitLab’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.33 EPS. As a group, analysts expect that GitLab Inc. will post -0.31 EPS for the current year.
Analyst Upgrades and Downgrades
Several brokerages recently commented on GTLB. DA Davidson set a $24.00 target price on GitLab in a report on Thursday, March 5th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GitLab in a research report on Monday, December 22nd. William Blair reissued an “underperform” rating on shares of GitLab in a research note on Monday. KeyCorp downgraded GitLab from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, December 16th. Finally, Macquarie Infrastructure cut GitLab from an “outperform” rating to a “neutral” rating and decreased their target price for the company from $70.00 to $40.00 in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $39.62.
Check Out Our Latest Stock Report on GitLab
Institutional Trading of GitLab
Several institutional investors and hedge funds have recently bought and sold shares of GTLB. Allworth Financial LP lifted its stake in GitLab by 124.1% during 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. Quarry LP purchased a new position in shares of GitLab in the third quarter worth approximately $31,000. 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 acquiring an additional 671 shares during the period. Lodestone Wealth Management LLC acquired a new stake in shares of GitLab during the fourth quarter valued at approximately $36,000. Finally, Global Retirement Partners LLC lifted its position 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 acquiring an additional 445 shares in the last quarter. Institutional investors and hedge funds 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.