Gitlab executive chair Sijbrandij sells $4.66 million in stock

Published 17/04/2025, 00:24
Gitlab executive chair Sijbrandij sells $4.66 million in stock

Gitlab Inc. (NASDAQ:GTLB), a $7.16 billion market cap software company whose stock has declined 25% year-to-date, saw its Executive Chair of the Board Sytse Sijbrandij recently execute a significant stock sale, according to a regulatory filing. On April 15, Sijbrandij sold 108,600 shares of Gitlab’s Class A common stock at an average price of $42.87 per share. This transaction totaled approximately $4.66 million.

The shares were sold through the Sytse Sijbrandij Revocable Trust, of which Sijbrandij is the sole trustee. This sale was conducted under a pre-arranged trading plan pursuant to Rule 10b5-1, which allows company insiders to set up a predetermined plan to sell stocks.

Following this transaction, Sijbrandij’s trust no longer holds any shares of Gitlab’s Class A common stock. The transaction was part of a broader strategy that also involved the conversion of 108,600 shares of Class B common stock into Class A shares, although this conversion itself did not involve any cash exchange.

Investors often keep a close eye on insider transactions such as these, as they can sometimes offer insights into the company’s future prospects.

In other recent news, GitLab Inc has reported strong financial results, capturing the attention of several investment firms. TD Cowen highlighted GitLab’s fourth-quarter performance, which exceeded expectations with a 29% revenue growth, surpassing the Street’s projection of 26%. The company has also provided guidance for fiscal year 2026, predicting a growth rate of 23-24%, aligning with market expectations. RBC Capital Markets noted that GitLab’s revenue, operating margin, and earnings per share surpassed anticipated figures, emphasizing the company’s solid year-end performance.

BofA Securities maintained a Buy rating for GitLab, projecting a 24% year-over-year revenue growth by FY26/CY25, which is higher than the average of its peers. Piper Sandler reiterated an Overweight rating, citing GitLab’s robust fourth-quarter results and the introduction of new products like Duo as key growth drivers. KeyBanc Capital Markets also maintained an Overweight rating, emphasizing GitLab’s modest earnings beat and its strategic hires, including a new Chief Revenue Officer and board member David Henshall.

These developments reflect a strong vote of confidence from the investment community in GitLab’s growth potential and strategic direction.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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