Franklin Resources Inc. Sells 299,499 Shares of GitLab Inc. $GTLB

Franklin Resources Inc. decreased its position in GitLab Inc. (NASDAQ:GTLB) by 8.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,234,160 shares of the company’s stock after selling 299,499 shares during the quarter. Franklin Resources Inc.’s holdings in GitLab were worth $121,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of GTLB. Goldman Sachs Group Inc. lifted its position in GitLab by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after buying an additional 12,200 shares during the last quarter. Woodline Partners LP bought a new stake in GitLab in the 1st quarter worth approximately $314,000. Russell Investments Group Ltd. lifted its position in GitLab by 31.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after buying an additional 1,709 shares during the last quarter. California Public Employees Retirement System lifted its position in GitLab by 17.0% in the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after buying an additional 24,448 shares during the last quarter. Finally, State Street Corp lifted its position in GitLab by 7.0% in the 2nd quarter. State Street Corp now owns 2,283,597 shares of the company’s stock worth $103,013,000 after buying an additional 148,713 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GitLab stock opened at $28.51 on Thursday. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38. The stock has a market capitalization of $4.85 billion, a P/E ratio of -178.19 and a beta of 0.96. The business’s 50 day simple moving average is $24.63 and its two-hundred day simple moving average is $29.78.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The business’s 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. Sell-side analysts expect that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity at GitLab

In other news, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the transaction, the director directly owned 325 shares of the company’s stock, valued at approximately $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the transaction, the director directly owned 15,018,251 shares in the company, valued at $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,392,308 shares of company stock worth $31,654,249 over the last three months. Insiders own 10.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Rosenblatt Securities restated a “buy” rating and issued a $43.00 target price on shares of GitLab in a research report on Monday, June 1st. Bank of America restated a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Piper Sandler downgraded GitLab from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $55.00 to $28.00 in a research report on Wednesday, March 4th. TD Cowen reaffirmed a “hold” rating and issued a $29.00 price target on shares of GitLab in a research note on Wednesday, June 3rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, GitLab presently has an average rating of “Hold” and an average price target of $36.64.

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.