GitLab Inc. $GTLB Stock Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC trimmed its holdings in GitLab Inc. (NASDAQ:GTLB) by 26.2% during the 3rd quarter, Holdings Channel.com reports. The fund owned 76,152 shares of the company’s stock after selling 26,983 shares during the period. GitLab accounts for about 1.8% of Taylor Frigon Capital Management LLC’s portfolio, making the stock its 5th largest position. Taylor Frigon Capital Management LLC’s holdings in GitLab were worth $3,598,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. Atreides Management LP bought a new position in shares of GitLab in the second quarter worth about $102,983,000. State Street Corp grew its position in shares of GitLab by 3.2% during the second quarter. State Street Corp now owns 2,632,173 shares of the company’s stock worth $80,351,000 after purchasing an additional 81,807 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in GitLab by 363.4% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,987,553 shares of the company’s stock valued at $60,680,000 after purchasing an additional 1,558,625 shares during the period. Bank of America Corp DE raised its stake in GitLab by 1.6% during the 2nd quarter. Bank of America Corp DE now owns 1,987,140 shares of the company’s stock valued at $60,667,000 after purchasing an additional 31,492 shares during the period. Finally, Light Street Capital Management LLC raised its stake in GitLab by 66.2% during the 2nd quarter. Light Street Capital Management LLC now owns 1,945,000 shares of the company’s stock valued at $59,381,000 after purchasing an additional 775,000 shares during the period. Institutional investors own 95.04% of the company’s stock.

Insider Activity at GitLab

In related news, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the sale, the chief accounting officer owned 105,332 shares in the company, valued at approximately $4,002,616. The trade was a 7.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 980,710 shares of the business’s stock in a transaction on Thursday, September 24th. The stock was sold at an average price of $48.63, for a total transaction of $47,691,927.30. Following the completion of the sale, the director owned 13,921,341 shares in the company, valued at $676,994,812.83. This represents a 6.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 2,293,040 shares of company stock valued at $109,988,468. 10.64% of the stock is owned by corporate insiders.

GitLab Price Performance

NASDAQ GTLB opened at $56.28 on Friday. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $57.89. The business has a 50 day simple moving average of $48.78 and a two-hundred day simple moving average of $35.77. The stock has a market capitalization of $9.38 billion, a PE ratio of -175.87 and a beta of 0.98.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $286.25 million for the quarter, compared to analysts’ expectations of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The company’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, analysts anticipate that GitLab Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

GTLB has been the subject of several recent analyst reports. Rosenblatt Securities upped their price target on GitLab from $43.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, September 2nd. Canaccord Genuity Group lifted their price objective on shares of GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. DA Davidson lifted their price objective on shares of GitLab from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Wells Fargo & Company boosted their target price on shares of GitLab from $40.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 2nd. Finally, Robert W. Baird upped their target price on shares of GitLab from $47.00 to $59.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat.com, GitLab has an average rating of “Hold” and an average target price of $52.33.

About GitLab

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.