Thrivent Financial for Lutherans Sells 173,852 Shares of GitLab Inc. $GTLB

Thrivent Financial for Lutherans lowered its position in GitLab Inc. (NASDAQ:GTLB) by 37.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 288,041 shares of the company’s stock after selling 173,852 shares during the period. Thrivent Financial for Lutherans owned about 0.17% of GitLab worth $12,985,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GTLB. Eminence Capital LP lifted its position in shares of GitLab by 148.9% during the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock worth $280,521,000 after buying an additional 3,720,406 shares in the last quarter. HMI Capital Management L.P. lifted its holdings in GitLab by 32.3% during the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock worth $264,283,000 after acquiring an additional 1,430,151 shares during the period. Champlain Investment Partners LLC boosted its position in 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 purchasing an additional 3,227,717 shares during the last quarter. Atreides Management LP grew its stake in GitLab by 867.3% in the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after purchasing an additional 3,531,070 shares during the period. Finally, ARK Investment Management LLC increased its position in shares of GitLab by 35.7% during the 2nd quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after purchasing an additional 866,353 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at GitLab

In related news, CFO James Shen sold 2,538 shares of the stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the sale, the chief financial officer owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Simon Mundy sold 2,756 shares of GitLab stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the transaction, the chief accounting officer directly owned 47,184 shares of the company’s stock, valued at $1,812,809.28. The trade was a 5.52% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 766,644 shares of company stock worth $30,370,356 in the last 90 days. 16.37% of the stock is owned by company insiders.

GitLab Stock Down 0.9%

NASDAQ GTLB opened at $32.54 on Thursday. The firm has a market cap of $5.48 billion, a P/E ratio of -120.52 and a beta of 0.75. The company’s 50 day moving average is $37.22 and its 200-day moving average is $42.89. GitLab Inc. has a 12-month low of $31.38 and a 12-month high of $74.04.

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on GTLB shares. Wolfe Research reissued an “outperform” rating and issued a $50.00 price target on shares of GitLab in a report on Wednesday, December 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a research report on Wednesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 target price on shares of GitLab in a research note on Monday, December 1st. Canaccord Genuity Group restated a “buy” rating and set a $70.00 price target on shares of GitLab in a research note on Wednesday, December 3rd. Finally, Piper Sandler lowered their price target on shares of GitLab from $70.00 to $55.00 and set an “overweight” rating on the stock in a report on Monday, January 5th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, GitLab presently has a consensus rating of “Hold” and a consensus price target of $50.79.

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.