GitLab Inc. $GTLB Shares Newly Acquired by R Squared Ltd

R Squared Ltd bought a new position in shares of GitLab Inc. (NASDAQ:GTLB) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,334 shares of the company’s stock, valued at approximately $536,000.

A number of other institutional investors have also modified their holdings of the stock. Bank of America Corp DE increased its holdings in GitLab by 55.3% during the 1st quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock worth $42,320,000 after purchasing an additional 696,096 shares during the period. California State Teachers Retirement System raised its position in GitLab by 21.7% during the 1st quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock valued at $3,348,000 after purchasing an additional 27,624 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of GitLab by 19.7% in the 1st quarter. First Trust Advisors LP now owns 1,893,926 shares of the company’s stock worth $40,985,000 after buying an additional 312,312 shares during the period. Carmignac Gestion grew its position in shares of GitLab by 55.8% during the 2nd quarter. Carmignac Gestion now owns 1,475,612 shares of the company’s stock worth $45,050,000 after buying an additional 528,612 shares in the last quarter. Finally, State Street Corp grew its position in shares of GitLab by 3.2% during the 2nd quarter. State Street Corp now owns 2,632,173 shares of the company’s stock worth $80,351,000 after buying an additional 81,807 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Trading Down 0.1%

NASDAQ GTLB opened at $47.28 on Friday. The company has a 50 day moving average price of $50.98 and a 200 day moving average price of $34.79. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $58.01.

GitLab (NASDAQ:GTLB) last announced 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. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The company had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. During the same period last year, the firm earned $0.24 earnings per share. GitLab’s revenue was up 21.3% compared to the same quarter last year. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.29 EPS for the current year.

Insider Transactions at GitLab

In other GitLab news, CTO Sivaprasad Padisetty sold 51,915 shares of the stock in a transaction dated Monday, September 28th. The stock was sold at an average price of $45.78, for a total value of $2,376,668.70. Following the completion of the sale, the chief technology officer directly owned 377,211 shares in the company, valued at approximately $17,268,719.58. This trade represents a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, October 19th. The stock was sold at an average price of $53.27, for a total value of $6,189,974.00. Following the sale, the director owned 12,669,651 shares in the company, valued at $674,912,308.77. The trade was a 0.91% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 2,284,315 shares of company stock valued at $109,656,918. 10.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Guggenheim restated a “neutral” rating on shares of GitLab in a research note on Wednesday, September 2nd. UBS Group set a $64.00 price objective on shares of GitLab in a research note on Friday, October 23rd. Zacks Research upgraded shares of GitLab from a “strong sell” rating to a “hold” rating in a report on Tuesday, November 3rd. Morgan Stanley raised their target price on shares of GitLab from $30.00 to $57.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 2nd. Finally, DA Davidson boosted their price target on shares of GitLab from $45.00 to $55.00 and gave the company a “neutral” rating in a report on Wednesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $52.50.

GitLab Company Profile

GitLab Inc. develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring. The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.