GitLab Inc. $GTLB Stock Holdings Decreased by SBI Securities Co. Ltd.

SBI Securities Co. Ltd. trimmed its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 85.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,226 shares of the company’s stock after selling 12,934 shares during the quarter. SBI Securities Co. Ltd.’s holdings in GitLab were worth $105,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Tsfg LLC acquired a new position in GitLab during the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp increased its position in GitLab by 220.6% in the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the period. Versant Capital Management Inc increased its position in GitLab by 300.6% in the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after buying an additional 1,401 shares during the period. Nisa Investment Advisors LLC increased its position in GitLab by 24.8% in the third quarter. Nisa Investment Advisors LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 433 shares during the period. Finally, GAMMA Investing LLC lifted its stake in GitLab by 60.4% in the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock valued at $85,000 after buying an additional 1,043 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Robert W. Baird boosted their price target on shares of GitLab from $47.00 to $59.00 and gave the company an “outperform” rating in a report on Wednesday, September 2nd. Rosenblatt Securities upped their price target on shares of GitLab from $43.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, September 2nd. JPMorgan Chase & Co. increased their price objective on shares of GitLab from $32.00 to $44.00 and gave the stock a “neutral” rating in a report on Wednesday, August 26th. Barclays lifted their price objective on shares of GitLab from $25.00 to $47.00 and gave the company an “underweight” rating in a research report on Wednesday, September 2nd. Finally, 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. Seven analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $52.33.

GitLab Price Performance

GTLB opened at $57.97 on Thursday. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $58.01. The stock has a market cap of $9.66 billion, a P/E ratio of -181.15 and a beta of 0.98. The stock’s 50 day moving average price is $49.57 and its 200 day moving average price is $33.97.

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

Insider Activity

In related news, Director Sytse Sijbrandij sold 980,710 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $48.63, for a total value of $47,691,927.30. Following the completion of the sale, the director owned 13,921,341 shares of the company’s stock, valued at $676,994,812.83. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the stock in a transaction dated Monday, September 28th. The shares were sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the completion of the transaction, the chief technology officer owned 377,211 shares of the company’s stock, valued at $17,268,719.58. This represents a 12.10% 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 have sold 2,293,040 shares of company stock valued at $109,988,468. Company insiders own 10.64% of the company’s stock.

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.