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Matthew Jacobson, a director at Gitlab Inc. (NASDAQ:GTLB), recently executed a series of stock sales totaling approximately $8 million, according to a regulatory filing. The transactions, which took place on March 24, involved the sale of Class A common stock at prices ranging from $52.3019 to $53.1301 per share. The sales come as Gitlab, currently valued at $8.7 billion, has seen its stock decline over the past month. According to InvestingPro data, the company maintains impressive gross profit margins of nearly 89%.
These sales were carried out through various entities associated with ICONIQ Strategic Partners, with shares held by ICONIQ Strategic Partners III, L.P., ICONIQ Strategic Partners III-B, L.P., ICONIQ Strategic Partners IV, L.P., ICONIQ Strategic Partners IV-B, L.P., and others. Following these transactions, Jacobson retains indirect ownership of a significant number of shares through these partnerships. InvestingPro analysis suggests the stock is trading slightly above its Fair Value, with analyst targets ranging from $58 to $90 per share. Subscribers can access 10+ additional ProTips and comprehensive valuation metrics in the Pro Research Report.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission (SEC) on March 26, 2025. The filing provides a detailed account of the sales and the remaining shares held by Jacobson in his capacity as a director.
In other recent news, GitLab Inc has been receiving positive attention from several analyst firms following its impressive financial performance. GitLab’s recent fourth-quarter results exceeded expectations, with revenue growth reaching 29%, surpassing the Street’s projection of 26%. The company’s guidance for fiscal year 2026 forecasts a growth rate of 23-24%, aligning with market expectations. Analysts from TD Cowen, RBC Capital Markets, and Piper Sandler have maintained their positive ratings, with price targets set at $82, $80, and $85, respectively. BofA Securities also expressed confidence in GitLab, maintaining a Buy rating and a $90 price target, citing the company’s growth prospects and AI-driven innovations.
GitLab’s strategic initiatives, including the introduction of Duo and its Generative AI technology, have been pivotal in securing large enterprise deals. The appointment of a new Chief Revenue Officer and board member David Henshall has further strengthened GitLab’s leadership and governance. KeyBanc Capital Markets reiterated its Overweight rating with an $80 price target, emphasizing the company’s market opportunities and growth drivers. GitLab’s robust performance and strategic moves have positioned it well for continued growth in the competitive software development industry.
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