Rep. Robert Bresnahan, Jr. Sells GitLab Inc. (NASDAQ:GTLB) Stock

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently sold shares of GitLab Inc. (NASDAQ:GTLB). In a filing disclosed on July 08th, the Representative disclosed that they had sold between $1,001 and $15,000 in GitLab stock on June 11th. The trade occurred in the Representative’s “JP MORGAN BROKERAGE ACCOUNT #2” account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of Zoom Communications (NASDAQ:ZM) on 6/25/2025.
• Purchased $1,001 – $15,000 in shares of Coinbase Global (NASDAQ:COIN) on 6/24/2025.
• Purchased $1,001 – $15,000 in shares of Circle Internet Group (NYSE:CRCL) on 6/24/2025.
• Sold $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 6/23/2025.
• Sold $1,001 – $15,000 in shares of Chubb (NYSE:CB) on 6/13/2025.
• Sold $1,001 – $15,000 in shares of Atlassian (NASDAQ:TEAM) on 6/11/2025.
• Purchased $1,001 – $15,000 in shares of ServiceTitan (NASDAQ:TTAN) on 6/11/2025.
• Sold $1,001 – $15,000 in shares of Datadog (NASDAQ:DDOG) on 6/11/2025.
• Purchased $1,001 – $15,000 in shares of Broadcom (NASDAQ:AVGO) on 6/11/2025.
• Sold $1,001 – $15,000 in shares of Intel (NASDAQ:INTC) on 6/11/2025.

GitLab Trading Up 3.3%

Shares of NASDAQ GTLB opened at $45.37 on Friday. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The company has a market capitalization of $7.50 billion, a price-to-earnings ratio of 453.70 and a beta of 0.74. The firm has a 50-day moving average of $45.94 and a two-hundred day moving average of $52.39.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period in the prior year, the firm earned $0.03 earnings per share. The firm’s revenue was up 26.8% compared to the same quarter last year. As a group, research analysts predict that GitLab Inc. will post -0.31 earnings per share for the current year.

Institutional Trading of GitLab

A number of hedge funds have recently made changes to their positions in GTLB. EverSource Wealth Advisors LLC lifted its stake in shares of GitLab by 5,700.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock worth $29,000 after acquiring an additional 513 shares during the period. Cullen Frost Bankers Inc. increased its holdings in shares of GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock valued at $25,000 after acquiring an additional 334 shares in the last quarter. CoreCap Advisors LLC increased its holdings in shares of GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company’s stock valued at $33,000 after acquiring an additional 452 shares in the last quarter. Twin Tree Management LP bought a new stake in shares of GitLab during the first quarter valued at approximately $29,000. Finally, Cloud Capital Management LLC bought a new stake in GitLab during the first quarter worth $29,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other GitLab news, Director Matthew Jacobson sold 129,400 shares of the business’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the transaction, the director owned 551,997 shares of the company’s stock, valued at approximately $23,360,513.04. The trade was a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $43.33, for a total value of $4,705,638.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 509,950 shares of company stock worth $23,288,223. 16.37% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently commented on GTLB shares. Truist Financial reaffirmed a “buy” rating and issued a $75.00 target price (down from $80.00) on shares of GitLab in a research report on Wednesday, June 11th. KeyCorp reduced their target price on GitLab from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Thursday, April 17th. Capital One Financial cut GitLab from an “overweight” rating to an “equal weight” rating and set a $46.00 target price for the company. in a research report on Wednesday. Needham & Company LLC reduced their target price on GitLab from $85.00 to $55.00 and set a “buy” rating for the company in a research report on Wednesday, June 11th. Finally, Macquarie reissued an “outperform” rating and set a $75.00 price objective on shares of GitLab in a report on Wednesday, June 25th. Five investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and an average target price of $62.63.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania’s 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania’s 8th Congressional District. He declared candidacy for the 2026 election.

Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.