UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in GitLab Inc. (NASDAQ:GTLB – Free Report) by 363.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,987,553 shares of the company’s stock after buying an additional 1,558,625 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 1.18% of GitLab worth $60,680,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in GTLB. Hsbc Holdings PLC lifted its holdings in GitLab by 132.7% in the second quarter. Hsbc Holdings PLC now owns 45,706 shares of the company’s stock valued at $1,382,000 after acquiring an additional 26,062 shares during the last quarter. Wellington Management Group LLP purchased a new stake in GitLab in the second quarter valued at $10,047,000. Archer Investment Corp acquired a new position in shares of GitLab in the 2nd quarter valued at $316,000. Beacon Pointe Advisors LLC grew its holdings in shares of GitLab by 119.8% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 23,396 shares of the company’s stock worth $714,000 after purchasing an additional 12,751 shares during the period. Finally, Corient Private Wealth LP acquired a new stake in shares of GitLab during the 2nd quarter worth about $250,000. Institutional investors and hedge funds own 95.04% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. BTIG Research boosted their price objective on shares of GitLab from $52.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday. Bank of America increased their target price on shares of GitLab from $45.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. Wells Fargo & Company lifted their price target on shares of GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday. JPMorgan Chase & Co. boosted their price target on shares of GitLab from $32.00 to $44.00 and gave the company a “neutral” rating in a research note on Wednesday, August 26th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, GitLab has an average rating of “Hold” and an average price target of $51.88.
GitLab News Summary
Here are the key news stories impacting GitLab this week:
- Positive Sentiment: Results exceeded expectations: GitLab reported adjusted earnings of $0.24 per share versus the $0.18 consensus estimate, while revenue increased 21.3% year over year to approximately $286.3 million, above expectations of about $273 million. GitLab Inc. Beats Q2 Earnings and Revenue Estimates
- Positive Sentiment: AI and enterprise demand supported growth: Record bookings, net annual recurring revenue growth above 40%, customer expansion and traction for AI-related products helped reinforce the view that artificial intelligence may increase demand for GitLab’s DevSecOps platform rather than displace it. Paid Flex consumption exceeded $40 million. GTLB Q2 Earnings Call Puts Flex, AI and Sales Momentum in Focus
- Positive Sentiment: Raised outlook: Fiscal 2027 adjusted EPS guidance was set at $0.85-$0.87, above the $0.61 analyst consensus, while third-quarter EPS guidance of $0.19-$0.20 also exceeded expectations. Several firms raised price targets, including Needham to $65 and RBC to $60. GitLab Stock Pops on Solid Results, Rosy Forecast
- Neutral Sentiment: Analyst reaction was mixed: Price targets increased broadly, but UBS, Wells Fargo, Mizuho and Piper Sandler retained neutral or equal-weight ratings, suggesting some analysts view much of the improved outlook as already reflected in the stock.
- Negative Sentiment: Profit-taking and valuation concerns pressured after-hours trading: The stock had already gained substantially in recent months, prompting caution about chasing the rally. The company still reported a negative net margin, and weaker quarterly cash flow may have encouraged investors to lock in gains after the earnings-driven surge. GitLab Stock Soars After Earnings. It’s Still Not a Buy.
Insider Buying and Selling
In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the completion of the transaction, the director owned 14,902,051 shares of the company’s stock, valued at $423,814,330.44. This trade represents a 0.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the firm’s stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the transaction, the chief accounting officer directly owned 105,332 shares of the company’s stock, valued at $4,002,616. This represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company’s stock.
GitLab Trading Up 10.0%
GTLB opened at $49.59 on Thursday. The stock’s 50-day moving average price is $36.49 and its 200 day moving average price is $28.97. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $55.55. The firm has a market cap of $8.38 billion, a price-to-earnings ratio of -154.96 and a beta of 0.99.
GitLab (NASDAQ:GTLB – Get Free Report) last released its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.18 by $0.06. The company had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative return on equity of 1.26% and a negative net margin of 4.99%.GitLab’s revenue was up 21.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, research analysts forecast that GitLab Inc. will post -0.18 earnings per share 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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