Cantor Fitzgerald L. P. Purchases 50,840 Shares of GitLab Inc. $GTLB

Cantor Fitzgerald L. P. grew its position in shares of GitLab Inc. (NASDAQ:GTLB) by 280.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 69,000 shares of the company’s stock after purchasing an additional 50,840 shares during the quarter. Cantor Fitzgerald L. P.’s holdings in GitLab were worth $3,111,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. increased its stake in shares of GitLab by 3.6% in the third quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock valued at $395,000 after buying an additional 302 shares during the period. Summit Global Investments boosted its position in GitLab by 2.2% during the 2nd quarter. Summit Global Investments now owns 15,193 shares of the company’s stock worth $685,000 after buying an additional 331 shares during the period. Jones Financial Companies Lllp grew its holdings in GitLab by 20.1% during the 3rd 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 grew its holdings in GitLab by 6.5% during the 3rd quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock worth $273,000 after acquiring an additional 368 shares during the last quarter. Finally, Truist Financial Corp increased its position in GitLab by 1.6% in the 3rd quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock valued at $1,103,000 after acquiring an additional 389 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Piper Sandler downgraded shares of GitLab from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $55.00 to $28.00 in a research note on Wednesday, March 4th. Needham & Company LLC decreased their price objective on GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Royal Bank Of Canada lowered their target price on GitLab from $40.00 to $33.00 and set an “outperform” rating for the company in a research report on Wednesday, March 4th. Guggenheim cut their target price on GitLab from $60.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Finally, The Goldman Sachs Group reduced their price target on GitLab from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.62.

Insiders Place Their Bets

In related news, CAO Simon Mundy sold 2,756 shares of the firm’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $38.42, for a total transaction of $105,885.52. Following the completion of the sale, the chief accounting officer owned 47,184 shares of the company’s stock, valued at $1,812,809.28. This trade represents a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 54,300 shares of GitLab stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00. The SEC filing for this sale provides additional information. Insiders sold 448,721 shares of company stock valued at $16,448,036 over the last 90 days. 21.36% of the stock is owned by company insiders.

GitLab Stock Up 1.4%

GTLB opened at $22.88 on Wednesday. GitLab Inc. has a twelve month low of $22.33 and a twelve month high of $54.08. The company has a fifty day moving average of $30.39 and a 200-day moving average of $39.27. The stock has a market cap of $3.85 billion, a PE ratio of -65.37 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its 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. The business had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. GitLab’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Sell-side analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal 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.