Primecap Management Co. CA Sells 28,900 Shares of GitLab Inc. $GTLB

Primecap Management Co. CA reduced its position in shares of GitLab Inc. (NASDAQ:GTLB) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 775,640 shares of the company’s stock after selling 28,900 shares during the period. Primecap Management Co. CA owned about 0.47% of GitLab worth $34,966,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC boosted its stake in shares of GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after buying an additional 671 shares during the last quarter. Global Retirement Partners LLC raised its holdings in GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after acquiring an additional 445 shares in the last quarter. Manchester Capital Management LLC acquired a new position in GitLab during the second quarter valued at approximately $48,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in GitLab in the second quarter valued at approximately $56,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of GitLab during the 2nd quarter worth approximately $63,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a report on Wednesday, December 3rd. BTIG Research lowered their price objective on shares of GitLab from $52.00 to $32.00 and set a “buy” rating on the stock in a research note on Thursday. Piper Sandler dropped their target price 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. Canaccord Genuity Group reiterated a “buy” rating and set a $70.00 price target on shares of GitLab in a report on Wednesday, December 3rd. Finally, DA Davidson reissued a “neutral” rating and set a $45.00 price target on shares of GitLab in a research report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $48.75.

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 54,300 shares of GitLab stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Simon Mundy sold 2,756 shares of the firm’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the sale, the chief accounting officer directly owned 47,184 shares of the company’s stock, valued at approximately $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 603,744 shares of company stock worth $22,536,495. Corporate insiders own 16.37% of the company’s stock.

GitLab Price Performance

GTLB opened at $27.89 on Friday. The business has a fifty day simple moving average of $33.83 and a 200 day simple moving average of $41.11. GitLab Inc. has a 1 year low of $23.45 and a 1 year high of $64.42. The company has a market capitalization of $4.70 billion, a PE ratio of -103.30 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $239.31 million. During the same period in the previous year, the firm earned $0.23 EPS. The company’s quarterly 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 anticipate that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

GitLab 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.