Karen Blasing, a director at GitLab Inc. (NASDAQ:GTLB), has recently sold shares of the company's Class A common stock. According to a filing with the Securities and Exchange Commission, Blasing executed the sale of 6,500 shares on January 15, 2025. The transactions were made at a price range between $62.97 and $63.47 per share, totaling approximately $410,764. The sale comes as GitLab, currently valued at $10.2 billion, trades near $64.20 per share, with 24 analysts recently revising their earnings estimates upward according to InvestingPro data.
These sales were conducted under a trading plan established on March 26, 2024, in compliance with Rule 10b5-1 of the Securities Exchange Act of 1934. Following the transactions, Blasing holds 128,233 shares of GitLab's Class A common stock. InvestingPro analysis shows GitLab maintains impressive gross profit margins of 89% and strong liquidity metrics, with current assets exceeding short-term obligations. Discover 8 additional key insights and access the comprehensive Pro Research Report covering GitLab and 1,400+ other stocks on InvestingPro.
In other recent news, GitLab Inc has been the focus of several investment firms following strong third-quarter results. The company's revenue growth of 32.4% and a significant profit surge, with operating margins reaching a record 13%, have been notable highlights. GitLab's earnings per share guidance has nearly tripled from the initial forecast, and the full-year guidance has increased by $10.5 million. Needham analysts have added GitLab to their Conviction List, signaling a positive outlook for the company's shares. Macquarie initiated coverage on GitLab shares with an Outperform rating and a price target of $90.00, highlighting GitLab's key player status in the developer security operations (DevSecOps) toolchain market. TD Cowen has maintained its Buy rating on GitLab stock, raising its price target to $82 from $70, following GitLab's reported third-quarter revenue growth. Furthermore, GitLab announced a significant leadership change with Bill Staples named as the incoming CEO, succeeding co-founder Sid Sijbrandij. These are recent developments and could be subject to change.
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