ABN Amro Investment Solutions Acquires New Shares in GitLab Inc. $GTLB

ABN Amro Investment Solutions acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 64,486 shares of the company's stock, valued at approximately $2,420,000.

Several other institutional investors also recently modified their holdings of the business. Atreides Management LP lifted its holdings in GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock valued at $177,652,000 after acquiring an additional 3,531,070 shares during the period. Vanguard Group Inc. raised its stake in shares of GitLab by 9.2% in the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock worth $688,902,000 after buying an additional 1,285,881 shares during the period. Eminence Capital LP raised its stake in shares of GitLab by 15.9% in the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company's stock worth $324,924,000 after buying an additional 989,122 shares during the period. Franklin Resources Inc. raised its stake in shares of GitLab by 35.6% in the third quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company's stock worth $159,297,000 after buying an additional 926,824 shares during the period. Finally, Value Aligned Research Advisors LLC bought a new position in shares of GitLab in the third quarter worth about $32,105,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Raymond James Financial reaffirmed a "market perform" rating on shares of GitLab in a research note on Tuesday. Bank of America downgraded GitLab from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $58.00 to $27.00 in a research note on Wednesday, April 22nd. Sanford C. Bernstein decreased their price objective on GitLab from $70.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of GitLab in a research note on Tuesday, May 12th. Finally, Wells Fargo & Company cut their target price on GitLab from $45.00 to $26.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have assigned a Hold rating and four have given a Sell rating to the company. According to data from MarketBeat.com, GitLab has an average rating of "Hold" and an average price target of $37.08.

Insider Activity

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director owned 15,018,251 shares of the company's stock, valued at $373,203,537.35. The trade was a 0.77% decrease in their position. The sale was disclosed in a filing with the SEC, 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 700,109 shares of the company's stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director directly owned 325 shares of the company's stock, valued at $7,458.75. The trade was a 99.95% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 1,392,308 shares of company stock valued at $31,654,249. Insiders own 10.64% of the company's stock.

GitLab Price Performance

Shares of GTLB stock opened at $26.73 on Friday. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $52.38. The stock's fifty day moving average price is $22.58 and its 200 day moving average price is $31.30. The company has a market cap of $4.55 billion, a price-to-earnings ratio of -76.37 and a beta of 0.82.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company's quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. As a group, equities research analysts anticipate that GitLab Inc. will post -0.33 earnings per share for the current year.

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.

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