Norges Bank Invests $81.38 Million in GitLab Inc. $GTLB

Norges Bank acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,168,377 shares of the company’s stock, valued at approximately $81,379,000.

A number of other hedge funds also recently made changes to their positions in GTLB. Goldman Sachs Group Inc. raised its position in shares of GitLab by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after acquiring an additional 12,200 shares during the last quarter. Woodline Partners LP bought a new stake in GitLab in the first quarter worth approximately $314,000. Russell Investments Group Ltd. increased its holdings in GitLab by 31.6% in the second quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after purchasing an additional 1,709 shares in the last quarter. California Public Employees Retirement System increased its holdings in GitLab by 17.0% in the second quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after purchasing an additional 24,448 shares in the last quarter. Finally, State Street Corp increased its holdings in GitLab by 7.0% in the second quarter. State Street Corp now owns 2,283,597 shares of the company’s stock worth $103,013,000 after purchasing an additional 148,713 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Performance

Shares of GitLab stock opened at $31.12 on Friday. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $52.38. The stock has a 50 day moving average price of $24.08 and a two-hundred day moving average price of $30.15. The stock has a market capitalization of $5.29 billion, a PE ratio of -194.50 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Research analysts forecast that GitLab Inc. will post -0.32 EPS for the current year.

Insider Buying and Selling

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,392,308 shares of company stock valued at $31,654,249 in the last three months. Insiders own 10.64% of the company’s stock.

GitLab News Summary

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: DA Davidson issued a positive forecast for GitLab, and JPMorgan raised its price target to $32, signaling some analysts still see upside from current levels. DA Davidson Issues Positive Forecast for GitLab (NASDAQ:GTLB) Stock Price GitLab (NASDAQ:GTLB) Given New $32.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Coverage highlighting GitLab’s “price recovery” says the company may be well-positioned for long-term growth as its agentic AI push gains traction, especially with customers focused on compliance and security. GitLab’s Price Recovery Gains Traction—Time to Get On Board?
• Positive Sentiment: GitLab is continuing to emphasize AI strategy and shifting monetization in its Q1 deep dive, which may support the investment case if it translates into stronger enterprise demand and better revenue growth. GTLB Q1 Deep Dive: AI Strategy, Workforce Restructuring, and Shifting Monetization Shape Outlook
• Neutral Sentiment: GitLab’s Q1 results presentation and conference transcript kept attention on execution details, but these items mainly reinforced existing investor focus rather than introducing a major new catalyst. GitLab Inc. 2027 Q1 – Results – Earnings Call Presentation GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Analyst opinions remain split, with some mixed commentary suggesting the market is still debating GitLab’s near-term valuation versus its longer-term AI opportunity. Analysts’ Opinions Are Mixed on These Technology Stocks: Gitlab (GTLB) and Nvidia (NVDA)
• Negative Sentiment: One Seeking Alpha piece argues GitLab is still not an attractive buy, reflecting ongoing concerns about valuation or execution risk. GitLab Inc.: Now Is Still Not The Time To Buy
• Negative Sentiment: GitLab cut 14% of its workforce to support its AI ambitions, a move that can improve efficiency but also signals restructuring pressure and near-term execution risk. GitLab Cuts 14% of Workforce to Fuel AI Agentic Era Ambitions

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DA Davidson lifted their target price on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday. Weiss Ratings upgraded GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Mizuho lifted their target price on GitLab from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday. Raymond James Financial reiterated a “market perform” rating on shares of GitLab in a report on Tuesday, May 19th. Finally, TD Cowen reiterated a “hold” rating and issued a $29.00 target price on shares of GitLab in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $36.64.

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.