GitLab Inc. $GTLB is ICONIQ Capital LLC’s 7th Largest Position

ICONIQ Capital LLC trimmed its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 3.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,978,356 shares of the company’s stock after selling 129,400 shares during the quarter. GitLab accounts for about 3.0% of ICONIQ Capital LLC’s investment portfolio, making the stock its 7th biggest position. ICONIQ Capital LLC owned approximately 2.41% of GitLab worth $179,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Eminence Capital LP grew its stake in GitLab by 148.9% during the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock valued at $280,521,000 after purchasing an additional 3,720,406 shares in the last quarter. Atreides Management LP grew its position in shares of 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 buying an additional 3,531,070 shares in the last quarter. Champlain Investment Partners LLC increased its stake in shares of GitLab by 251.3% in the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock worth $203,545,000 after buying an additional 3,227,717 shares during the last quarter. 1832 Asset Management L.P. raised its holdings in GitLab by 2,456.8% in the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company’s stock valued at $107,865,000 after acquiring an additional 2,205,238 shares in the last quarter. Finally, Norges Bank bought a new position in GitLab during the 2nd quarter valued at $93,489,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (e+)” rating on shares of GitLab in a research report on Wednesday, October 8th. Mizuho set a $47.00 price objective on GitLab in a research note on Wednesday, December 3rd. Wells Fargo & Company decreased their target price on GitLab from $50.00 to $45.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 3rd. Barclays lowered their price target on GitLab from $44.00 to $42.00 and set an “equal weight” rating for the company in a report on Wednesday, December 3rd. Finally, Piper Sandler restated an “overweight” rating on shares of GitLab in a research note on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GitLab presently has an average rating of “Moderate Buy” and an average target price of $53.29.

Insiders Place Their Bets

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the sale, the director owned 73,299 shares in the company, valued at approximately $3,703,798.47. This trade represents a 84.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $43.17, for a total value of $4,688,262.00. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 1,286,507 shares of company stock worth $61,398,801. Insiders own 16.37% of the company’s stock.

GitLab Trading Down 2.9%

Shares of NASDAQ GTLB opened at $39.52 on Friday. GitLab Inc. has a 12-month low of $35.81 and a 12-month high of $74.18. The company has a market cap of $6.66 billion, a price-to-earnings ratio of -146.37 and a beta of 0.75. The stock’s 50 day simple moving average is $44.36 and its 200 day simple moving average is $45.11.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, December 2nd. The company reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. GitLab had a negative return on equity of 1.51% and a negative net margin of 4.70%.The firm had revenue of $244.35 million during the quarter, compared to the consensus estimate of $239.31 million. During the same period in the prior year, the business earned $0.23 EPS. The firm’s revenue was up 24.6% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.