Penserra Capital Management LLC Boosts Holdings in GitLab Inc. $GTLB

Penserra Capital Management LLC grew its stake in GitLab Inc. (NASDAQ:GTLB) by 11.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,533 shares of the company’s stock after purchasing an additional 1,092 shares during the quarter. Penserra Capital Management LLC’s holdings in GitLab were worth $475,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of GTLB. Vestmark Advisory Solutions Inc. lifted its stake in GitLab by 155.4% in the 2nd quarter. Vestmark Advisory Solutions Inc. now owns 133,986 shares of the company’s stock valued at $6,044,000 after buying an additional 81,516 shares in the last quarter. Princeton Capital Management LLC lifted its position in shares of GitLab by 33.8% in the second quarter. Princeton Capital Management LLC now owns 21,153 shares of the company’s stock valued at $954,000 after acquiring an additional 5,346 shares in the last quarter. Malaga Cove Capital LLC boosted its stake in shares of GitLab by 5.1% in the second quarter. Malaga Cove Capital LLC now owns 17,834 shares of the company’s stock worth $804,000 after acquiring an additional 863 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new stake in shares of GitLab during the second quarter worth approximately $754,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of GitLab during the second quarter worth approximately $56,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $44.29, for a total value of $4,809,894.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Simon Mundy sold 5,191 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total transaction of $228,352.09. Following the completion of the transaction, the chief accounting officer directly owned 53,507 shares in the company, valued at $2,353,772.93. The trade was a 8.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 1,224,362 shares of company stock worth $59,828,897 in the last three months. 21.36% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several recent research reports. Guggenheim started coverage on shares of GitLab in a research note on Thursday, September 11th. They set a “buy” rating and a $70.00 target price on the stock. DA Davidson lowered their price target on shares of GitLab from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, September 4th. Weiss Ratings reiterated a “sell (e+)” rating on shares of GitLab in a report on Wednesday, October 8th. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Finally, UBS Group dropped their price target on GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, GitLab currently has an average rating of “Moderate Buy” and an average target price of $58.83.

GitLab Price Performance

NASDAQ:GTLB opened at $46.53 on Wednesday. The company’s 50-day moving average is $47.39 and its two-hundred day moving average is $46.26. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The firm has a market capitalization of $7.76 billion, a price-to-earnings ratio of -1,163.25 and a beta of 0.74.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. During the same quarter in the prior year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, equities analysts anticipate that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

About GitLab

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.