Sei Investments Co. boosted its position in shares of GitLab Inc. (NASDAQ:GTLB – Free Report) by 44.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 340,455 shares of the company’s stock after acquiring an additional 104,582 shares during the period. Sei Investments Co.’s holdings in GitLab were worth $7,367,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Allworth Financial LP raised its holdings in shares of GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP purchased a new stake in shares of GitLab during the 3rd quarter worth $31,000. Fifth Third Bancorp lifted its position in shares of GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after purchasing an additional 1,103 shares during the last quarter. Larson Financial Group LLC grew its stake in shares of GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in GitLab in the third quarter valued at $48,000. 95.04% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
GTLB has been the topic of a number of analyst reports. Morgan Stanley raised their price target on GitLab from $29.00 to $30.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 3rd. DA Davidson upped their price objective on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. JPMorgan Chase & Co. raised their target price on GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, GitLab currently has a consensus rating of “Hold” and a consensus price target of $36.58.
Insider Activity at GitLab
In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the completion of the sale, the director directly owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.
GitLab Price Performance
Shares of NASDAQ:GTLB opened at $34.51 on Monday. The company’s fifty day moving average price is $30.56 and its 200 day moving average price is $27.76. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38. The firm has a market capitalization of $5.83 billion, a P/E ratio of -215.69 and a beta of 0.94.
GitLab (NASDAQ:GTLB – Get Free Report) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. During the same period in the previous year, the company earned $0.17 earnings per share. GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, sell-side analysts anticipate that GitLab Inc. will post -0.18 EPS for the current year.
GitLab Profile
GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.
The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.
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