GitLab Target of Unusually Large Options Trading (NASDAQ:GTLB)

by · The Markets Daily

GitLab Inc. (NASDAQ:GTLB – Get Free Report) was the recipient of unusually large options trading activity on Tuesday. Stock traders acquired 27,374 call options on the company. This is an increase of 72% compared to the average volume of 15,932 call options.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the sale, the director owned 73,299 shares in the company, valued at approximately $3,703,798.47. This represents a 84.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Mundy sold 5,191 shares of GitLab stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total transaction of $228,352.09. Following the transaction, the chief accounting officer owned 53,507 shares of the company’s stock, valued at $2,353,772.93. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,329,712 shares of company stock valued at $64,154,795 in the last three months. Company insiders own 16.37% of the company’s stock.

Institutional Investors Weigh In On GitLab

A number of hedge funds have recently bought and sold shares of GTLB. Eminence Capital LP grew its stake in shares of GitLab by 148.9% in the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock worth $280,521,000 after buying an additional 3,720,406 shares in the last quarter. Atreides Management LP raised its stake in shares of GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after acquiring an additional 3,531,070 shares during the period. Champlain Investment Partners LLC grew its holdings in GitLab by 251.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock valued at $203,545,000 after purchasing an additional 3,227,717 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in GitLab by 2,456.8% in the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company’s stock worth $107,865,000 after purchasing an additional 2,205,238 shares during the last quarter. Finally, Norges Bank bought a new stake in GitLab in the second quarter worth about $93,489,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on GTLB shares. Truist Financial reaffirmed a “hold” rating and issued a $44.00 target price (down from $55.00) on shares of GitLab in a report on Wednesday, November 19th. Raymond James Financial decreased their price target on GitLab from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GitLab in a report on Wednesday, October 8th. Guggenheim started coverage on shares of GitLab in a research note on Thursday, September 11th. They set a “buy” rating and a $70.00 target price on the stock. Finally, Mizuho lowered shares of GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price target for the company. in a research note on Tuesday, October 7th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $57.87.

Read Our Latest Analysis on GitLab

GitLab Trading Up 5.4%

NASDAQ GTLB traded up $2.24 during trading hours on Tuesday, hitting $43.39. 4,351,014 shares of the company’s stock traded hands, compared to its average volume of 3,877,210. GitLab has a 52 week low of $37.90 and a 52 week high of $74.18. The firm has a market capitalization of $7.23 billion, a P/E ratio of -1,083.50 and a beta of 0.75. The business’s fifty day moving average price is $45.65 and its two-hundred day moving average price is $45.64.

GitLab (NASDAQ:GTLB – Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The firm had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $227.20 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. GitLab’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.15 EPS. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS and its Q3 2026 guidance at 0.190-0.200 EPS. On average, sell-side analysts expect that GitLab will post -0.31 EPS for the current fiscal year.

About GitLab

(Get Free Report)

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.

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