GitLab Inc. $GTLB Shares Acquired by Engineers Gate Manager LP

Engineers Gate Manager LP lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 1,139.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 357,831 shares of the company’s stock after acquiring an additional 328,960 shares during the period. Engineers Gate Manager LP owned approximately 0.21% of GitLab worth $10,925,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Allworth Financial LP boosted its stake in GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares in the last quarter. Tsfg LLC acquired a new position in GitLab during the 2nd quarter valued at approximately $31,000. Quarry LP acquired a new position in GitLab during the 3rd quarter valued at approximately $31,000. Fifth Third Bancorp raised its holdings in shares of GitLab by 220.6% in the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after buying an additional 481 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on GTLB. Bank of America lifted their price objective on shares of GitLab from $45.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. Zacks Research lowered GitLab from a “hold” rating to a “strong sell” rating in a research note on Friday, September 4th. Mizuho raised their target price on GitLab from $34.00 to $47.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 2nd. UBS Group lifted their price target on GitLab from $40.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Guggenheim reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $51.75.

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the transaction, the director owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the completion of the transaction, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at approximately $4,002,616. This trade represents a 7.65% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by corporate insiders.

GitLab Trading Up 2.1%

Shares of NASDAQ GTLB opened at $47.30 on Friday. The company has a 50 day simple moving average of $38.67 and a two-hundred day simple moving average of $29.80. The stock has a market cap of $7.99 billion, a price-to-earnings ratio of -147.81 and a beta of 0.99. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $55.55.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The firm had revenue of $286.25 million for the quarter, compared to analyst estimates of $273.13 million. During the same quarter in the prior year, the business earned $0.24 earnings per share. The business’s quarterly revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Analysts forecast that GitLab Inc. will post -0.27 EPS for the current year.

GitLab Profile

GitLab Inc (NASDAQ:GTLB) develops a software development and collaboration platform designed to help organizations plan, create, secure and deploy applications. Its platform brings together source code management, project planning, code review, continuous integration and continuous delivery (CI/CD), application security, compliance and monitoring capabilities in a unified DevSecOps environment.

GitLab serves businesses, government organizations and educational institutions across a range of industries and geographies.