25,100 Shares in GitLab Inc. $GTLB Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,100 shares of the company’s stock, valued at approximately $1,186,000.

Other large investors have also recently made changes to their positions in the company. Tsfg LLC bought a new position in shares of GitLab during the 2nd quarter valued at $31,000. Fifth Third Bancorp lifted its stake in 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 purchasing an additional 1,103 shares during the last quarter. Versant Capital Management Inc lifted its stake in GitLab by 300.6% in the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after purchasing an additional 1,401 shares during the last quarter. Summit Securities Group LLC lifted its stake in GitLab by 409.9% in the first quarter. Summit Securities Group LLC now owns 3,000 shares of the company’s stock worth $65,000 after purchasing an additional 3,968 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in GitLab by 60.4% during the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock valued at $85,000 after buying an additional 1,043 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GTLB. Canaccord Genuity Group raised their price objective on GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Robert W. Baird boosted their target price on GitLab from $47.00 to $59.00 and gave the company an “outperform” rating in a research note on Wednesday, September 2nd. UBS Group set a $64.00 target price on GitLab in a report on Friday, October 23rd. Zacks Research cut GitLab from a “hold” rating to a “strong sell” rating in a report on Friday, September 4th. Finally, JPMorgan Chase & Co. raised their price target on GitLab from $32.00 to $44.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 26th. Seven analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, GitLab has an average rating of “Hold” and a consensus price target of $52.33.

Insider Transactions at GitLab

In other GitLab news, CAO Simon Mundy sold 8,725 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the transaction, the chief accounting officer owned 105,332 shares of the company’s stock, valued at $4,002,616. This represents a 7.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the company’s stock in a transaction that occurred on Monday, September 28th. The shares were sold at an average price of $45.78, for a total value of $2,376,668.70. Following the transaction, the chief technology officer directly owned 377,211 shares of the company’s stock, valued at $17,268,719.58. The trade was a 12.10% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,293,040 shares of company stock worth $109,988,468. Company insiders own 10.64% of the company’s stock.

GitLab Price Performance

Shares of GTLB opened at $52.43 on Thursday. The firm has a fifty day simple moving average of $50.72 and a two-hundred day simple moving average of $34.42. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $58.01.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $286.25 million for the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, equities research analysts predict that GitLab Inc. will post -0.29 EPS for the current year.

GitLab Profile

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.