GitLab Inc. $GTLB Shares Acquired by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 18.9% in the second quarter, HoldingsChannel reports. The institutional investor owned 15,072 shares of the company’s stock after purchasing an additional 2,394 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in GitLab were worth $680,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Twin Tree Management LP acquired a new stake in shares of GitLab during the 1st quarter valued at $29,000. Harbour Investments Inc. raised its position in shares of GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after purchasing an additional 734 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in shares of GitLab during the second quarter valued at $56,000. Byrne Asset Management LLC purchased a new stake in shares of GitLab during the second quarter valued at $61,000. Finally, Banque Transatlantique SA acquired a new position in shares of GitLab in the 1st quarter valued at $83,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred on Monday, September 15th. The shares were sold at an average price of $50.14, for a total value of $5,445,204.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Simon Mundy sold 5,191 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the completion of the sale, the chief accounting officer owned 53,507 shares of the company’s stock, valued at $2,353,772.93. The trade was a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 1,329,712 shares of company stock valued at $64,154,795. Corporate insiders own 16.37% of the company’s stock.

GitLab Trading Down 1.6%

GTLB stock opened at $40.57 on Thursday. The firm has a market cap of $6.76 billion, a PE ratio of -1,014.25 and a beta of 0.74. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18. The company has a fifty day simple moving average of $46.19 and a 200 day simple moving average of $45.94.

GitLab (NASDAQ:GTLB) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $227.20 million. During the same quarter last year, the business earned $0.15 earnings per share. GitLab’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, analysts forecast that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Canaccord Genuity Group reduced their price objective on shares of GitLab from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Barclays cut their price target on shares of GitLab from $47.00 to $44.00 and set an “equal weight” rating on the stock in a report on Friday, September 5th. Needham & Company LLC restated a “buy” rating and issued a $55.00 price target on shares of GitLab in a research report on Thursday, September 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $60.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Finally, Piper Sandler cut their target price on shares of GitLab from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $57.87.

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.