Ingalls & Snyder LLC Buys New Position in GitLab Inc. $GTLB

Ingalls & Snyder LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 5,602 shares of the company’s stock, valued at approximately $253,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. MetLife Investment Management LLC boosted its position in shares of GitLab by 3.2% during the 1st quarter. MetLife Investment Management LLC now owns 7,762 shares of the company’s stock valued at $365,000 after purchasing an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock worth $25,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock worth $43,000 after purchasing an additional 490 shares in the last quarter. Amalgamated Bank lifted its stake in GitLab by 7.2% during the first quarter. Amalgamated Bank now owns 8,537 shares of the company’s stock valued at $401,000 after purchasing an additional 571 shares during the last quarter. Finally, Veracity Capital LLC boosted its holdings in GitLab by 7.0% during the second quarter. Veracity Capital LLC now owns 8,921 shares of the company’s stock worth $402,000 after buying an additional 584 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Trading Down 0.0%

Shares of NASDAQ GTLB opened at $48.51 on Tuesday. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The business has a 50-day moving average price of $47.12 and a two-hundred day moving average price of $45.92. The firm has a market capitalization of $8.09 billion, a PE ratio of -1,212.75 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last posted 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). The company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $227.20 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.GitLab’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the company earned $0.15 earnings per share. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Research analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 108,600 shares of the company’s stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $44.29, for a total value of $4,809,894.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the sale, the director directly owned 97,389 shares of the company’s stock, valued at approximately $4,407,826.14. The trade was a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,224,362 shares of company stock worth $59,828,897 in the last quarter. 21.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. DA Davidson decreased 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. Wells Fargo & Company assumed coverage on GitLab in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 target price on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $60.00 target price on shares of GitLab in a research report on Thursday, September 4th. KeyCorp decreased their price target on GitLab from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Finally, Piper Sandler dropped their price target on GitLab from $85.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, GitLab presently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

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.