Sumitomo Mitsui Trust Group Inc. Acquires 25,473 Shares of GitLab Inc. $GTLB

Sumitomo Mitsui Trust Group Inc. increased its holdings in GitLab Inc. (NASDAQ:GTLB) by 5.0% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 535,833 shares of the company’s stock after buying an additional 25,473 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.32% of GitLab worth $11,595,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of GTLB. Huntington National Bank lifted its position in GitLab by 118.9% during the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock valued at $12,034,000 after purchasing an additional 174,200 shares during the period. ABN Amro Investment Solutions bought a new stake in GitLab in the 4th quarter worth approximately $2,420,000. Light Street Capital Management LLC grew its position in GitLab by 79.2% in the 3rd quarter. Light Street Capital Management LLC now owns 850,000 shares of the company’s stock worth $38,318,000 after purchasing an additional 375,585 shares during the period. Cantor Fitzgerald L. P. raised its stake in GitLab by 280.0% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 69,000 shares of the company’s stock valued at $3,111,000 after buying an additional 50,840 shares during the last quarter. Finally, Coronation Fund Managers Ltd. raised its stake in GitLab by 18.3% during the 4th quarter. Coronation Fund Managers Ltd. now owns 717,483 shares of the company’s stock valued at $26,927,000 after buying an additional 110,926 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of GTLB stock opened at $32.98 on Wednesday. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38. The firm has a fifty day moving average price of $28.51 and a 200-day moving average price of $28.15. The company has a market cap of $5.57 billion, a price-to-earnings ratio of -206.12 and a beta of 0.96.

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

Insider Activity

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the transaction, the director directly owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. Mizuho upped their price objective on GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Weiss Ratings raised GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald raised their target price on GitLab from $27.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Finally, BTIG Research restated a “buy” rating and set a $36.00 price target on shares of GitLab in a research note on Thursday, June 11th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $36.96.

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.