Magnetar Financial LLC Takes Position in GitLab Inc. $GTLB

Key Points

• Magnetar Financial LLC acquired 47,556 shares of GitLab Inc., valued at approximately $2,235,000 during the first quarter of the year.
• Institutional ownership of GitLab stands at 95.04%, with significant recent investments made by firms like Driehaus Capital Management and Champlain Investment Partners.
• GitLab has received 20 "buy" ratings from analysts, with a consensus target price of $62.83 and a recent quarterly EPS of $0.17, exceeding estimates.

Magnetar Financial LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm bought 47,556 shares of the company's stock, valued at approximately $2,235,000.

A number of other institutional investors also recently modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of GitLab by 30.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 85,949 shares of the company's stock valued at $4,843,000 after purchasing an additional 19,846 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of GitLab by 59.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 227,148 shares of the company's stock worth $12,801,000 after acquiring an additional 84,870 shares during the last quarter. Beacon Pointe Advisors LLC bought a new stake in GitLab in the 4th quarter valued at $1,695,000. Northern Trust Corp boosted its stake in GitLab by 20.2% in the 4th quarter. Northern Trust Corp now owns 650,369 shares of the company's stock valued at $36,648,000 after purchasing an additional 109,182 shares during the period. Finally, PDT Partners LLC bought a new stake in GitLab in the 4th quarter valued at $597,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

Shares of GTLB traded down $0.33 during mid-day trading on Tuesday, hitting $47.69. The stock had a trading volume of 5,801,145 shares, compared to its average volume of 3,574,447. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The firm has a market cap of $7.88 billion, a P/E ratio of 476.90 and a beta of 0.74. The business has a fifty day moving average price of $44.71 and a 200-day moving average price of $47.70.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The company's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.03 EPS. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. As a group, research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 129,400 shares of the business's stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the completion of the transaction, the director directly owned 551,997 shares in the company, valued at $23,360,513.04. The trade was a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. The trade was a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock worth $20,025,356 over the last ninety days. 21.36% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GTLB. JPMorgan Chase & Co. cut their target price on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Canaccord Genuity Group lowered their target price on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $62.00 target price on shares of GitLab in a report on Wednesday, June 25th. Needham & Company LLC reduced their price objective on shares of GitLab from $85.00 to $55.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Finally, Barclays decreased their target price on GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Twenty investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, GitLab currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.83.

GitLab Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.