Madison Asset Management LLC Purchases 49,107 Shares of GitLab Inc. $GTLB

Madison Asset Management LLC increased its position in GitLab Inc. (NASDAQ:GTLB) by 81.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,461 shares of the company’s stock after buying an additional 49,107 shares during the period. Madison Asset Management LLC owned 0.06% of GitLab worth $2,369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its holdings in shares of GitLab by 118.9% in 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 in the last quarter. ABN Amro Investment Solutions purchased a new stake in GitLab during the fourth quarter valued at $2,420,000. Coronation Fund Managers Ltd. raised its stake in GitLab by 18.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 717,483 shares of the company’s stock valued at $26,927,000 after purchasing an additional 110,926 shares in the last quarter. Niles Investment Management LLC bought a new position in GitLab during the fourth quarter valued at $3,983,000. Finally, Technology Crossover Management X Ltd. lifted its position in GitLab by 491.4% during the fourth quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock valued at $72,137,000 after purchasing an additional 1,597,114 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the sale, the director owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible 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.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on GTLB shares. Raymond James Financial restated a “market perform” rating on shares of GitLab in a report on Tuesday, May 19th. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Truist Financial lifted their price target on GitLab from $25.00 to $30.00 and gave the stock a “hold” rating in a research report on Thursday, July 9th. UBS Group boosted their price objective on GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. raised their price objective on GitLab from $28.00 to $32.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $36.58.

GitLab Trading Down 3.6%

NASDAQ GTLB opened at $32.85 on Wednesday. The stock has a market cap of $5.55 billion, a PE ratio of -205.31 and a beta of 0.96. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38. The company’s 50-day moving average price is $29.30 and its 200-day moving average price is $27.98.

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

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.