Ingalls & Snyder LLC Acquires New Position in GitLab Inc. $GTLB

Ingalls & Snyder LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,602 shares of the company’s stock, valued at approximately $253,000.

A number of other institutional investors have also made changes to their positions in GTLB. GAMMA Investing LLC increased its holdings in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. Cambridge Investment Research Advisors Inc. bought a new position in shares of GitLab in the 1st quarter worth about $200,000. Diversified Trust Co bought a new position in shares of GitLab in the 1st quarter worth about $346,000. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of GitLab by 161.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,067 shares of the company’s stock valued at $62,325,000 after buying an additional 818,354 shares during the period. Finally, Amalgamated Bank grew its position in shares of GitLab by 7.2% during the 1st quarter. Amalgamated Bank now owns 8,537 shares of the company’s stock valued at $401,000 after buying an additional 571 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

Shares of GTLB stock opened at $48.51 on Tuesday. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of -1,212.75 and a beta of 0.73. The business has a 50 day simple moving average of $47.12 and a 200 day simple moving average of $45.92.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on GTLB shares. DA Davidson cut their target price on shares of GitLab from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, September 4th. Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Needham & Company LLC restated a “buy” rating and set a $55.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Truist Financial lowered their price objective on GitLab from $75.00 to $55.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Finally, Wells Fargo & Company began coverage on GitLab in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 target price on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $58.83.

Insider Activity at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the completion of the transaction, the director directly owned 97,389 shares in the company, valued at $4,407,826.14. This trade represents a 3.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. Insiders sold a total of 1,224,362 shares of company stock worth $59,828,897 in the last 90 days. Corporate insiders own 21.36% of the company’s stock.

GitLab Company Profile

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.