Savant Capital LLC Has $1.29 Million Stock Position in GitLab Inc. $GTLB

Savant Capital LLC lowered its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 48.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 28,626 shares of the company’s stock after selling 27,358 shares during the quarter. Savant Capital LLC’s holdings in GitLab were worth $1,291,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GTLB. Malaga Cove Capital LLC grew its position in GitLab by 5.1% in the 2nd quarter. Malaga Cove Capital LLC now owns 17,834 shares of the company’s stock worth $804,000 after purchasing an additional 863 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in shares of GitLab in the second quarter valued at about $754,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new stake in GitLab during the second quarter worth about $56,000. Huntington National Bank increased its stake in GitLab by 24.6% during the second quarter. Huntington National Bank now owns 146,494 shares of the company’s stock valued at $6,608,000 after acquiring an additional 28,927 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in GitLab by 6.2% during the second quarter. Bank of New York Mellon Corp now owns 678,598 shares of the company’s stock valued at $30,612,000 after acquiring an additional 39,550 shares during the period. 95.04% of the stock is owned by institutional investors.

Insider Activity

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the transaction, the director directly owned 73,299 shares in the company, valued at $3,703,798.47. The trade was a 84.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Simon Mundy sold 5,191 shares of the company’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the sale, the chief accounting officer directly owned 53,507 shares in the company, valued at $2,353,772.93. This represents a 8.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,224,362 shares of company stock valued at $59,828,897. Company insiders own 16.37% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GTLB. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Guggenheim started coverage on GitLab in a research note on Thursday, September 11th. They issued a “buy” rating and a $70.00 target price for the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of GitLab in a research note on Wednesday, October 8th. Truist Financial lowered their price target on shares of GitLab from $75.00 to $55.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. Finally, Wells Fargo & Company initiated coverage on shares of GitLab in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 price objective for the company. Two analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and a consensus price target of $58.83.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $46.45 on Thursday. The business’s fifty day moving average price is $47.38 and its two-hundred day moving average price is $46.26. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -1,161.25 and a beta of 0.74.

GitLab (NASDAQ:GTLB) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS 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 firm had revenue of $236.00 million during the quarter, compared to analyst estimates of $227.20 million. During the same quarter in the prior year, the firm posted $0.15 EPS. The firm’s revenue for the quarter 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. Research analysts expect that GitLab Inc. will post -0.31 EPS for the current fiscal year.

GitLab Company Profile

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.