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Director Matthew Jacobson indirectly sold 63,587 shares of Gitlab Inc. (NASDAQ:GTLB) Class A Common Stock on September 23, 2025, for approximately $3.18 million. The sales were executed at a price of $50.1624 per share. The transaction comes as GitLab, currently valued at $7.88 billion, maintains impressive gross profit margins of 88.52% and a strong balance sheet with minimal debt. According to InvestingPro analysis, the stock is trading near its Fair Value.
The sales were conducted in multiple transactions with prices ranging from $50.00 to $50.52.
The shares were held indirectly through various ICONIQ Strategic Partners entities. After the transactions, Jacobson continues to indirectly hold a significant number of Gitlab Inc. shares through these entities.
In other recent news, GitLab Inc. reported a 29% year-over-year increase in revenue for its fiscal second quarter, surpassing consensus estimates by 4%. The company’s remaining performance obligations grew by 32% to $988.2 million, although this was below FBN Securities’ growth estimate of 37%. Despite these strong results, GitLab announced the departure of its Chief Financial Officer, Brian Robins, who is leaving to join Snowflake. Following this announcement, James Shen has been appointed as interim CFO, with Simon Mundy taking on the role of chief accounting officer.
Analyst reactions to these developments have varied. RBC Capital reiterated its Outperform rating for GitLab, maintaining a price target of $58.00, while FBN Securities lowered its price target from $75.00 to $65.00, citing mixed results. Truist Securities also reduced its price target from $75.00 to $55.00, expressing caution about the company’s outlook for the second half of the year. Despite these adjustments, both FBN Securities and Truist Securities have maintained positive ratings on GitLab. These changes come as the company makes adjustments to its go-to-market strategy and introduces new product offerings.
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