Bamco Inc. NY Has $72.04 Million Stock Holdings in GitLab Inc. $GTLB

Bamco Inc. NY lifted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 15.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,598,057 shares of the company’s stock after purchasing an additional 211,604 shares during the quarter. Bamco Inc. NY’s holdings in GitLab were worth $72,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GTLB. Eminence Capital LP increased its position in shares of GitLab by 148.9% in the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock valued at $280,521,000 after buying an additional 3,720,406 shares in the last quarter. Atreides Management LP lifted its holdings in GitLab by 867.3% during the second 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 in the last quarter. Champlain Investment Partners LLC lifted its holdings in GitLab by 251.3% during the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock worth $203,545,000 after acquiring an additional 3,227,717 shares in the last quarter. Norges Bank acquired a new position in GitLab in the second quarter valued at about $93,489,000. Finally, HMI Capital Management L.P. grew its stake in GitLab by 32.3% in the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock valued at $264,283,000 after acquiring an additional 1,430,151 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling

In related news, CFO James Shen sold 2,538 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the completion of the transaction, the chief financial officer directly owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Simon Mundy sold 2,756 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the transaction, the chief accounting officer owned 47,184 shares of the company’s stock, valued at approximately $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 503,744 shares of company stock worth $18,590,495 in the last three months. Insiders own 16.37% of the company’s stock.

GitLab Trading Down 0.6%

Shares of GTLB opened at $22.69 on Friday. The stock has a market capitalization of $3.82 billion, a price-to-earnings ratio of -64.83 and a beta of 0.79. GitLab Inc. has a 12 month low of $22.40 and a 12 month high of $54.08. The firm has a fifty day simple moving average of $30.97 and a 200 day simple moving average of $39.68.

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Zacks Research lowered GitLab from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. JPMorgan Chase & Co. boosted their price objective on GitLab from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Canaccord Genuity Group lowered their target price on GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Morgan Stanley dropped their target price on shares of GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a report on Monday, March 9th. Finally, KeyCorp lowered shares of GitLab from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, December 16th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.62.

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.