Alight Capital Management LP Sells 30,000 Shares of GitLab Inc. $GTLB

Key Points

• Alight Capital Management LP reduced its position in GitLab Inc. by 42.9%, selling 30,000 shares and now holding 40,000 shares, valued at $1.88 million.
• Other institutional investors like GAMMA Investing LLC dramatically increased their stakes by nearly 10,000%, while overall institutional ownership stands at 95.04%.
• GitLab reported better-than-expected quarterly earnings with an EPS of $0.17 against a forecast of $0.15, signaling a 26.8% year-over-year revenue growth.

Alight Capital Management LP trimmed its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 42.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the company's stock after selling 30,000 shares during the quarter. GitLab accounts for 0.9% of Alight Capital Management LP's portfolio, making the stock its 29th largest holding. Alight Capital Management LP's holdings in GitLab were worth $1,880,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its position in GitLab by 20.0% in the fourth quarter. True Wealth Design LLC now owns 1,297 shares of the company's stock worth $73,000 after purchasing an additional 216 shares during the period. Graham Capital Management L.P. lifted its position in GitLab by 0.8% in the fourth quarter. Graham Capital Management L.P. now owns 30,806 shares of the company's stock worth $1,736,000 after purchasing an additional 242 shares during the period. MetLife Investment Management LLC lifted its position in GitLab by 3.2% in the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company's stock worth $365,000 after purchasing an additional 242 shares during the period. Cullen Frost Bankers Inc. lifted its position in GitLab by 174.9% in the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock worth $25,000 after purchasing an additional 334 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in GitLab by 0.6% in the fourth quarter. BNP Paribas Financial Markets now owns 63,232 shares of the company's stock worth $3,563,000 after purchasing an additional 355 shares during the period. 95.04% of the stock is owned by institutional investors.

GitLab Price Performance

Shares of NASDAQ:GTLB traded up $2.27 during midday trading on Friday, reaching $45.73. The company's stock had a trading volume of 7,975,383 shares, compared to its average volume of 5,623,291. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The company has a market capitalization of $7.55 billion, a P/E ratio of -1,143.25 and a beta of 0.75. The business's fifty day simple moving average is $44.79 and its 200-day simple moving average is $47.35.

GitLab (NASDAQ:GTLB - Get Free Report) last announced 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. GitLab had a negative return on equity of 2.80% and a negative net margin of 0.55%.The company had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period last year, the company posted $0.03 earnings per share. The firm's quarterly revenue was up 26.8% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on GTLB. Mizuho reduced their target price on GitLab from $55.00 to $52.00 and set an "outperform" rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price objective on shares of GitLab in a research note on Thursday. Cowen reiterated a "buy" rating on shares of GitLab in a research note on Friday, June 6th. Finally, Truist Financial dropped their price objective on GitLab from $75.00 to $55.00 and set a "buy" rating for the company in a research note on Thursday. Nineteen 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 data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $58.39.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 129,400 shares of GitLab stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director directly owned 551,997 shares in the company, valued at $23,360,513.04. This trade represents a 18.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen Blasing sold 3,250 shares of GitLab 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 completion of the sale, 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 three months. 16.37% of the stock is currently owned by company insiders.

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.