Madison Asset Management LLC acquired a new stake in GitLab Inc. (NASDAQ:GTLB – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 133,025 shares of the company’s stock, valued at approximately $4,061,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Eminence Capital LP raised its position in GitLab by 6.9% during the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after acquiring an additional 494,497 shares in the last quarter. AQR Capital Management LLC grew its position in shares of GitLab by 766.3% in the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock valued at $203,915,000 after acquiring an additional 4,806,163 shares during the period. Atreides Management LP grew its position in shares of GitLab by 867.3% in the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after acquiring an additional 3,531,070 shares during the period. SG Americas Securities LLC increased its stake in shares of GitLab by 6,528.0% during the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after purchasing an additional 3,088,089 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of GitLab by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company’s stock worth $102,216,000 after purchasing an additional 97,342 shares during the last quarter. 95.04% of the stock is owned by institutional investors.
Insider Activity at GitLab
In other GitLab news, CAO Simon Mundy sold 8,725 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $38.00, for a total transaction of $331,550.00. Following the transaction, the chief accounting officer owned 105,332 shares in the company, valued at $4,002,616. This trade represents a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction on 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 sale, the director directly owned 14,902,051 shares of the company’s stock, valued at $423,814,330.44. This represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.
GitLab Stock Performance
GitLab (NASDAQ:GTLB – Get Free Report) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $254.23 million. During the same period last year, the business posted $0.17 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.18 earnings per share for the current year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on GTLB. Zacks Research downgraded shares of GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 3rd. Morgan Stanley boosted their price target on GitLab from $29.00 to $30.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 3rd. Bank of America upped their price objective on GitLab from $38.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday. Royal Bank Of Canada raised their price objective on GitLab from $29.00 to $46.00 and gave the company a “sector perform” rating in a research report on Friday, August 14th. Finally, Cantor Fitzgerald lifted their target price on GitLab from $27.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $38.71.
Get Our Latest Report on GitLab
GitLab Company 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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