Delta Global Management LP Sells 34,534 Shares of GitLab Inc. $GTLB

Delta Global Management LP cut its stake in GitLab Inc. (NASDAQ:GTLB) by 29.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 83,053 shares of the company’s stock after selling 34,534 shares during the period. Delta Global Management LP’s holdings in GitLab were worth $3,117,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Allworth Financial LP boosted its holdings in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Main Management ETF Advisors LLC boosted its holdings in GitLab by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock valued at $1,264,000 after acquiring an additional 344 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in GitLab by 20.1% in the third quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock valued at $102,000 after acquiring an additional 358 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in GitLab by 35.2% in the third quarter. Clearstead Advisors LLC now owns 1,747 shares of the company’s stock valued at $79,000 after acquiring an additional 455 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after acquiring an additional 481 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction 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 transaction, the director directly owned 15,018,251 shares in the company, valued at $373,203,537.35. This trade represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares in the company, valued at approximately $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 1,392,308 shares of company stock worth $31,654,249. 10.64% of the stock is owned by company insiders.

GitLab Stock Performance

GitLab stock opened at $28.31 on Tuesday. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of -176.94 and a beta of 0.96. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $52.38. The stock’s 50 day moving average price is $25.00 and its two-hundred day moving average price is $29.50.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business earned $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, equities research analysts forecast that GitLab Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently commented on GTLB shares. UBS Group upped their target price on GitLab from $24.00 to $32.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Raymond James Financial restated a “market perform” rating on shares of GitLab in a report on Tuesday, May 19th. Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Wolfe Research restated an “outperform” rating and set a $36.00 price target on shares of GitLab in a report on Wednesday, June 3rd. Finally, Barclays cut their price target on GitLab from $29.00 to $25.00 and set an “underweight” rating on the stock in a report on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.64.

About GitLab

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.