R Squared Ltd Makes New Investment in GitLab Inc. $GTLB

R Squared Ltd bought a new stake in GitLab Inc. (NASDAQ:GTLB) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 11,334 shares of the company’s stock, valued at approximately $536,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTLB. Tsfg LLC acquired a new stake in GitLab during the 2nd quarter worth about $31,000. Fifth Third Bancorp increased 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 valued at $35,000 after purchasing an additional 1,103 shares during the period. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of GitLab in the third quarter valued at about $35,000. Versant Capital Management Inc increased its holdings in shares of GitLab by 300.6% in the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock valued at $57,000 after purchasing an additional 1,401 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of GitLab by 60.4% in the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock worth $85,000 after purchasing an additional 1,043 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity

In other news, CTO Sivaprasad Padisetty sold 51,915 shares of the firm’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 transaction of $2,376,668.70. Following the sale, the chief technology officer owned 377,211 shares of the company’s stock, valued at $17,268,719.58. This trade represents a 12.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction that occurred on Monday, October 19th. The stock was sold at an average price of $53.27, for a total transaction of $6,189,974.00. Following the sale, the director directly owned 12,669,651 shares in the company, valued at $674,912,308.77. The trade was a 0.91% 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. Over the last ninety days, insiders have sold 2,284,315 shares of company stock worth $109,656,918. 10.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Robert W. Baird lifted their target price on GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a report on Wednesday, September 2nd. Weiss Ratings downgraded shares of GitLab from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Canaccord Genuity Group increased their price target on shares of GitLab from $40.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, September 2nd. DA Davidson raised their price target on shares of GitLab from $45.00 to $55.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 2nd. Finally, Truist Financial restated a “hold” rating and set a $48.00 price objective (up from $40.00) on shares of GitLab in a research note on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $52.50.

GitLab Stock Down 0.1%

Shares of GTLB opened at $47.28 on Friday. The business’s 50-day moving average is $50.98 and its two-hundred day moving average is $34.79. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $58.01.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. The business had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter last year, the business posted $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, analysts anticipate that GitLab Inc. will post -0.29 earnings per share for the current fiscal year.

About GitLab

GitLab Inc. develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring. The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.