543,451 GitLab Inc. $GTLB Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA increased its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 38.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,969,472 shares of the company's stock after buying an additional 543,451 shares during the period. Pictet Asset Management Holding SA owned about 1.18% of GitLab worth $93,058,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bank of America Corp DE raised its holdings in shares of GitLab by 55.3% in the 1st quarter. Bank of America Corp DE now owns 1,955,648 shares of the company's stock valued at $42,320,000 after purchasing an additional 696,096 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of GitLab by 21.7% in the 1st quarter. California State Teachers Retirement System now owns 154,699 shares of the company's stock worth $3,348,000 after purchasing an additional 27,624 shares during the period. First Trust Advisors LP boosted its stake in shares of GitLab by 19.7% during the first quarter. First Trust Advisors LP now owns 1,893,926 shares of the company's stock valued at $40,985,000 after purchasing an additional 312,312 shares in the last quarter. Carmignac Gestion boosted its stake in shares of GitLab by 55.8% during the second quarter. Carmignac Gestion now owns 1,475,612 shares of the company's stock valued at $45,050,000 after purchasing an additional 528,612 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of GitLab by 3.2% during the second quarter. State Street Corp now owns 2,632,173 shares of the company's stock valued at $80,351,000 after purchasing an additional 81,807 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Down 2.0%

Shares of GitLab stock opened at $47.12 on Tuesday. The firm's 50 day moving average price is $50.98 and its 200-day moving average price is $34.64. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $58.01.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.18 by $0.06. The firm had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. GitLab's revenue was up 21.3% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, equities research analysts forecast that GitLab Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently commented on GTLB. Royal Bank Of Canada boosted their price objective on shares of GitLab from $46.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 2nd. Robert W. Baird increased their target price on GitLab from $47.00 to $59.00 and gave the company an "outperform" rating in a research report on Wednesday, September 2nd. Barclays increased their target price on GitLab from $25.00 to $47.00 and gave the company an "underweight" rating in a research report on Wednesday, September 2nd. Guggenheim reiterated a "neutral" rating on shares of GitLab in a report on Wednesday, September 2nd. Finally, Weiss Ratings lowered GitLab from a "sell (d)" rating to a "sell (e+)" rating in a research report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $52.33.

Insider Buying and Selling at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction on Monday, October 19th. The stock was sold at an average price of $53.27, for a total transaction of $6,189,974.00. Following the completion of the sale, the director owned 12,669,651 shares in the company, valued at approximately $674,912,308.77. This represents a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Sivaprasad Padisetty sold 51,915 shares of the firm's stock in a transaction on Monday, September 28th. The stock was sold at an average price of $45.78, for a total value of $2,376,668.70. Following the completion of the sale, the chief technology officer directly owned 377,211 shares of the company's stock, valued at $17,268,719.58. The trade was a 12.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,284,315 shares of company stock valued at $109,656,918. Company insiders own 10.64% of the company's stock.

About GitLab

GitLab Inc develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring.

The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.

GitLab began as an open-source project in 2011, created by Dmitriy Zaporozhets and later developed with co-founder Sid Sijbrandij.

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