Greenhouse Funds LLLP Decreases Stock Position in GitLab Inc. $GTLB

Greenhouse Funds LLLP reduced its position in GitLab Inc. (NASDAQ:GTLB) by 14.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,080,563 shares of the company’s stock after selling 183,695 shares during the period. GitLab accounts for about 1.8% of Greenhouse Funds LLLP’s investment portfolio, making the stock its 27th biggest position. Greenhouse Funds LLLP’s holdings in GitLab were worth $48,712,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in GTLB. Blue Trust Inc. lifted its holdings in shares of GitLab by 3.6% in the 3rd quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock valued at $395,000 after acquiring an additional 302 shares during the last quarter. Summit Global Investments grew its position in GitLab by 2.2% in the second quarter. Summit Global Investments now owns 15,193 shares of the company’s stock worth $685,000 after acquiring an additional 331 shares in the last quarter. Jones Financial Companies Lllp increased its stake in GitLab by 20.1% during the third quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock worth $102,000 after acquiring an additional 358 shares during the last quarter. Prostatis Group LLC raised its position in GitLab by 6.5% during the third quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock valued at $273,000 after purchasing an additional 368 shares during the period. Finally, Truist Financial Corp raised its position in GitLab by 1.6% during the third quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock valued at $1,103,000 after purchasing an additional 389 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 0.1%

Shares of GTLB stock opened at $23.16 on Thursday. GitLab Inc. has a twelve month low of $22.77 and a twelve month high of $54.61. The stock has a fifty day simple moving average of $31.53 and a two-hundred day simple moving average of $39.99. The stock has a market capitalization of $3.90 billion, a price-to-earnings ratio of -66.17 and a beta of 0.79.

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

Insider Buying and Selling

In other GitLab news, CFO James Shen sold 2,538 shares of GitLab stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the transaction, the chief financial officer owned 52,284 shares in the company, valued at $1,990,974.72. The trade was a 4.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $38.08, for a total transaction of $12,750,212.16. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 503,744 shares of company stock valued at $18,590,495. 16.37% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

GTLB has been the subject of a number of analyst reports. UBS Group lowered their price target on GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada cut their price objective on shares of GitLab from $40.00 to $33.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of GitLab in a research note on Monday, December 22nd. Cantor Fitzgerald restated a “neutral” rating on shares of GitLab in a report on Wednesday, March 4th. Finally, Mizuho dropped their price target on shares of GitLab from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. One investment 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 assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.