Penserra Capital Management LLC Increases Position in GitLab Inc. $GTLB

Penserra Capital Management LLC grew its position in shares of GitLab Inc. (NASDAQ:GTLB) by 11.6% during the second quarter, Holdings Channel reports. The firm owned 10,533 shares of the company’s stock after acquiring an additional 1,092 shares during the quarter. Penserra Capital Management LLC’s holdings in GitLab were worth $475,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 valued at $25,000 after buying an additional 334 shares during the period. Twin Tree Management LP acquired a new position in GitLab in the 1st quarter valued at about $29,000. Harbour Investments Inc. grew its position in GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock valued at $42,000 after acquiring an additional 734 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in GitLab during the second quarter worth about $56,000. Finally, Byrne Asset Management LLC purchased a new stake in GitLab during the second quarter worth about $61,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The stock was sold at an average price of $44.29, for a total transaction of $4,809,894.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director directly owned 97,389 shares of the company’s stock, valued at $4,407,826.14. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,224,362 shares of company stock worth $59,828,897 over the last 90 days. Insiders own 21.36% of the company’s stock.

GitLab Trading Up 0.7%

GitLab stock opened at $46.53 on Wednesday. The company has a fifty day simple moving average of $47.39 and a 200-day simple moving average of $46.26. The stock has a market cap of $7.76 billion, a P/E ratio of -1,163.25 and a beta of 0.74. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The business had revenue of $236.00 million during the quarter, compared to analyst estimates of $227.20 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business 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. As a group, sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTLB has been the subject of several recent research reports. Piper Sandler lowered their price objective on shares of GitLab from $85.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, September 4th. BTIG Research decreased their price target on shares of GitLab from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a research note on Wednesday, October 8th. Morgan Stanley increased their price objective on GitLab from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Finally, FBN Securities upgraded GitLab to a “strong-buy” rating in a report on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, GitLab 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.