106,134 Shares in GitLab Inc. $GTLB Purchased by Niles Investment Management LLC

Key Points

• Niles Investment Management opened a new position in GitLab, buying 106,134 shares worth about $3.98 million in the fourth quarter. The stake represents about 3% of Niles’ portfolio and roughly 0.06% of GitLab.
• Several other institutional investors also increased or initiated positions in GitLab, while hedge funds and other institutions now own 95.04% of the stock. Meanwhile, insiders sold shares in the latest quarter, including director Sytse Sijbrandij and Matthew Jacobson.
• GitLab reported better-than-expected quarterly results, with EPS of $0.23 on revenue of $264.16 million, up 23.2% year over year. Despite the strong quarter, analysts currently have a consensus rating of Hold with an average price target of $36.64.

Niles Investment Management LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,134 shares of the company's stock, valued at approximately $3,983,000. GitLab accounts for 3.0% of Niles Investment Management LLC's holdings, making the stock its 12th biggest holding. Niles Investment Management LLC owned about 0.06% of GitLab as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. Focus Partners Wealth lifted its position in GitLab by 11.8% during the fourth quarter. Focus Partners Wealth now owns 282,459 shares of the company's stock worth $10,601,000 after buying an additional 29,837 shares during the period. Fieldview Capital Management LLC lifted its position in GitLab by 570.6% during the fourth quarter. Fieldview Capital Management LLC now owns 93,334 shares of the company's stock worth $3,503,000 after buying an additional 79,417 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in GitLab during the fourth quarter worth about $860,000. Ariadne Wealth Management LP purchased a new position in GitLab during the fourth quarter worth about $267,000. Finally, Kestra Advisory Services LLC purchased a new position in GitLab during the fourth quarter worth about $585,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GitLab

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 transaction of $2,887,570.00. Following the completion of the sale, the director 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 through the SEC website. 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. In the last quarter, insiders sold 1,392,308 shares of company stock valued at $31,654,249. Insiders own 10.64% of the company's stock.

GitLab Stock Performance

GTLB stock opened at $27.79 on Friday. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38. The firm has a market cap of $4.69 billion, a P/E ratio of -173.69 and a beta of 0.96. The stock has a 50-day simple moving average of $24.88 and a 200-day simple moving average of $29.67.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (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 business had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same quarter last year, the firm earned $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. On average, equities research analysts predict that GitLab Inc. will post -0.18 EPS for the current year.

Analysts Set New Price Targets

GTLB has been the topic of a number of research reports. Guggenheim restated a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. Sanford C. Bernstein cut their price objective on GitLab from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. Morgan Stanley raised their price objective on GitLab from $29.00 to $30.00 and gave the stock an "equal weight" rating in a report on Wednesday, June 3rd. Piper Sandler downgraded GitLab from an "overweight" rating to a "neutral" rating and cut their price objective for the stock from $55.00 to $28.00 in a report on Wednesday, March 4th. Finally, DA Davidson raised their price objective on GitLab from $24.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, GitLab presently has a consensus rating of "Hold" and an average 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.

Want to see what other hedge funds are holding GTLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GitLab Inc. (NASDAQ:GTLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.