Geode Capital Management LLC Raises Holdings in GitLab Inc. $GTLB

Geode Capital Management LLC grew its stake in GitLab Inc. (NASDAQ:GTLB) by 5.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 2,395,681 shares of the company’s stock after buying an additional 119,278 shares during the quarter. Geode Capital Management LLC’s holdings in GitLab were worth $108,086,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. MetLife Investment Management LLC raised its holdings in GitLab by 3.2% in the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company’s stock valued at $365,000 after acquiring an additional 242 shares in the last quarter. SBI Securities Co. Ltd. grew its holdings in GitLab by 12.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,863 shares of the company’s stock worth $174,000 after acquiring an additional 429 shares in the last quarter. Veracity Capital LLC increased its position in shares of GitLab by 7.0% in the 2nd quarter. Veracity Capital LLC now owns 8,921 shares of the company’s stock valued at $402,000 after purchasing an additional 584 shares during the last quarter. New York Life Investment Management LLC raised its holdings in shares of GitLab by 4.5% in the 2nd quarter. New York Life Investment Management LLC now owns 13,648 shares of the company’s stock valued at $616,000 after purchasing an additional 590 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of GitLab during the 1st quarter worth $29,000. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GTLB. Mizuho cut GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a research note on Tuesday, October 7th. Raymond James Financial cut their target price on GitLab from $60.00 to $55.00 and set an “outperform” rating on the stock in a research report on Thursday, September 4th. Wells Fargo & Company began coverage on GitLab in a report on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of GitLab in a research note on Thursday, September 4th. Finally, FBN Securities upgraded shares of GitLab to a “strong-buy” rating in a research report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.87.

Insider Buying and Selling at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 97,389 shares of the company’s stock, valued at approximately $4,407,826.14. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Simon Mundy sold 5,191 shares of the 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 owned 53,507 shares of the company’s stock, valued at $2,353,772.93. This trade represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,329,712 shares of company stock worth $64,154,795 in the last quarter. 16.37% of the stock is currently owned by company insiders.

GitLab Stock Down 2.1%

GTLB opened at $42.51 on Friday. The firm has a market cap of $7.09 billion, a price-to-earnings ratio of -1,062.75 and a beta of 0.74. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The business’s 50 day moving average is $46.92 and its two-hundred day moving average is $46.13.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The firm 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%. GitLab’s revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted $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. Equities analysts expect that GitLab Inc. will post -0.31 EPS for the current fiscal year.

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.