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 on Friday, March 20th. The stock was sold at an average price of $22.37, for a total value of $10,285,703.63. The transaction was disclosed in a filing with the SEC, 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 Stock Performance

NASDAQ GTLB opened at $22.27 on Tuesday. The company has a market capitalization of $3.75 billion, a PE ratio of -63.63 and a beta of 0.79. GitLab Inc. has a 52-week low of $21.77 and a 52-week high of $54.08. The company has a 50-day simple moving average of $29.32 and a 200 day simple moving average of $38.59.

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

Institutional Trading of GitLab

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock valued at $688,902,000 after purchasing an additional 1,285,881 shares in the last quarter. Eminence Capital LP raised its position in shares of GitLab by 6.9% in the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after buying an additional 494,497 shares in the last quarter. HMI Capital Management L.P. raised its position in shares of GitLab by 32.3% in the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after buying an additional 1,430,151 shares in the last quarter. Atreides Management LP boosted its stake in GitLab by 38.9% during the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after buying an additional 1,532,107 shares during the period. Finally, AQR Capital Management LLC grew its position in GitLab by 766.3% during the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock worth $203,915,000 after buying an additional 4,806,163 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Key GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: Q4 earnings and business momentum remain constructive — analysts and media are revisiting GitLab’s recent quarter that beat consensus on revenue and EPS and showed 23% year-over-year revenue growth, a fundamental underpin that can support the stock over time. Reflecting on software development stocks’ Q4 earnings: GitLab
• Neutral Sentiment: Reported short-interest data for March appears inconsistent (shows zero shares / “NaN” increase), suggesting either a reporting glitch or a delayed data update — unclear near-term impact until corrected data is available.
• Negative Sentiment: William Blair downgraded/reaffirmed an Underperform rating on GitLab, signaling bearish analyst sentiment that can pressure the stock and reduce investor appetite. William Blair downgrades GitLab (GTLB)
• Negative Sentiment: Significant insider selling: Director Matthew Jacobson sold large blocks across March 19–20 (~1.16M shares total) at average prices around $22–$23, trimming his position to 325 shares; total disclosed proceeds exceed $26M. Large director exits often signal caution to investors and can add selling pressure. SEC filing: SEC Filing

Wall Street Analyst Weigh In

A number of analysts have issued reports on GTLB shares. Piper Sandler downgraded GitLab from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th. DA Davidson set a $24.00 price target on GitLab in a research report on Thursday, March 5th. Needham & Company LLC cut their price target on GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Macquarie Infrastructure lowered GitLab from an “outperform” rating to a “neutral” rating and decreased their price objective for the stock from $70.00 to $40.00 in a report on Wednesday, December 3rd. Finally, Royal Bank Of Canada lowered their price objective on GitLab from $40.00 to $33.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and four have issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $39.62.

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.