Franklin Resources Inc. Raises Stock Holdings in GitLab Inc. $GTLB

Franklin Resources Inc. boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 35.6% during the third quarter, Holdings Channel.com reports. The firm owned 3,533,659 shares of the company’s stock after acquiring an additional 926,824 shares during the period. Franklin Resources Inc.’s holdings in GitLab were worth $159,297,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Eminence Capital LP grew its position in GitLab by 148.9% in the second quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock worth $280,521,000 after acquiring an additional 3,720,406 shares in the last quarter. Atreides Management LP lifted its holdings 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 worth $177,652,000 after acquiring an additional 3,531,070 shares during the last quarter. Champlain Investment Partners LLC lifted its stake in GitLab by 251.3% in the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock worth $203,545,000 after purchasing an additional 3,227,717 shares during the last quarter. Norges Bank purchased a new position in GitLab during the 2nd quarter valued at $93,489,000. Finally, HMI Capital Management L.P. lifted its position in shares of GitLab by 32.3% during the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after purchasing an additional 1,430,151 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 54,300 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $38.95, for a total transaction of $2,114,985.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 503,744 shares of company stock valued at $18,590,495. 16.37% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. UBS Group decreased their price target on shares of GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Wells Fargo & Company cut their target price on shares of GitLab from $45.00 to $26.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 4th. Cantor Fitzgerald reissued a “neutral” rating on shares of GitLab in a research report on Wednesday, March 4th. DA Davidson set a $24.00 price objective on shares of GitLab in a research note on Thursday, March 5th. Finally, BTIG Research lowered their price objective on GitLab from $32.00 to $30.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $39.62.

GitLab Price Performance

NASDAQ GTLB opened at $22.82 on Friday. The company has a market cap of $3.84 billion, a price-to-earnings ratio of -65.20 and a beta of 0.79. The stock’s fifty day moving average price is $31.24 and its 200 day moving average price is $39.87. GitLab Inc. has a 1 year low of $22.66 and a 1 year high of $54.08.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The firm’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.33 EPS. Research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

About GitLab

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.