GitLab (NASDAQ:GTLB) Hits New 12-Month Low – Here’s Why

04 Apr 2025, 16:56 by Doug Wharley · The Cerbat Gem

GitLab Inc. (NASDAQ:GTLB – Get Free Report)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $37.90 and last traded at $39.60, with a volume of 1775050 shares. The stock had previously closed at $42.53.

Analysts Set New Price Targets

Several brokerages have issued reports on GTLB. DA Davidson cut their target price on shares of GitLab from $70.00 to $60.00 and set a “neutral” rating on the stock in a research note on Friday, February 28th. Truist Financial reduced their price objective on GitLab from $90.00 to $80.00 and set a “buy” rating for the company in a research note on Monday. Robert W. Baird decreased their price objective on GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research report on Monday, March 3rd. Canaccord Genuity Group upped their target price on GitLab from $65.00 to $78.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Wells Fargo & Company raised their price target on shares of GitLab from $80.00 to $85.00 and gave the stock an “overweight” rating in a report on Thursday, February 20th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $75.09.

Get Our Latest Report on GitLab

GitLab Stock Performance

The stock’s 50-day simple moving average is $60.29 and its two-hundred day simple moving average is $58.92. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of -128.41 and a beta of 0.67.

Insider Buying and Selling

In other news, Director Karen Blasing sold 6,500 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $63.19, for a total transaction of $410,735.00. Following the transaction, the director now owns 128,233 shares in the company, valued at approximately $8,103,043.27. The trade was a 4.82 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Sytse Sijbrandij sold 84,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total transaction of $5,291,160.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 311,886 shares of company stock valued at $17,736,229. Insiders own 21.36% of the company’s stock.

Hedge Funds Weigh In On GitLab

Large investors have recently added to or reduced their stakes in the company. Y Intercept Hong Kong Ltd acquired a new position in shares of GitLab in the third quarter valued at $678,000. State Street Corp raised its stake in shares of GitLab by 5.8% in the 3rd quarter. State Street Corp now owns 2,032,206 shares of the company’s stock valued at $104,740,000 after buying an additional 111,997 shares in the last quarter. Barclays PLC boosted its position in shares of GitLab by 189.1% during the 3rd quarter. Barclays PLC now owns 61,419 shares of the company’s stock valued at $3,164,000 after acquiring an additional 40,171 shares in the last quarter. Oddo BHF Asset Management Sas bought a new stake in GitLab in the third quarter valued at about $6,865,000. Finally, Swiss National Bank raised its position in GitLab by 3.7% in the fourth quarter. Swiss National Bank now owns 215,000 shares of the company’s stock worth $12,115,000 after purchasing an additional 7,700 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

About GitLab

(Get Free Report)