Allianz Asset Management GmbH Has $15.26 Million Stake in GitLab Inc. $GTLB

Allianz Asset Management GmbH lifted its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 16.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 338,249 shares of the company's stock after purchasing an additional 47,280 shares during the quarter. Allianz Asset Management GmbH owned 0.20% of GitLab worth $15,258,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Focus Partners Wealth raised its stake in shares of GitLab by 42.5% in the first quarter. Focus Partners Wealth now owns 252,586 shares of the company's stock valued at $11,871,000 after purchasing an additional 75,331 shares in the last quarter. Swedbank AB grew its position in GitLab by 51.8% in the first quarter. Swedbank AB now owns 258,000 shares of the company's stock valued at $12,126,000 after acquiring an additional 88,000 shares during the period. Cambridge Investment Research Advisors Inc. bought a new stake in GitLab in the first quarter valued at $200,000. Belpointe Asset Management LLC bought a new stake in GitLab in the first quarter valued at $409,000. Finally, OFI Invest Asset Management bought a new stake in GitLab in the second quarter valued at $16,936,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total value of $20,017,307.91. Following the transaction, the director owned 73,299 shares of the company's stock, valued at approximately $3,703,798.47. This represents a 84.39% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,224,362 shares of company stock worth $59,828,897. 16.37% of the stock is owned by insiders.

GitLab Stock Up 4.0%

Shares of GTLB opened at $47.10 on Tuesday. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The firm has a market capitalization of $7.85 billion, a PE ratio of -1,177.50 and a beta of 0.73. The stock's fifty day simple moving average is $46.49 and its 200-day simple moving average is $45.74.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. During the same period last year, the company earned $0.15 EPS. The company's revenue was up 29.2% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Guggenheim assumed coverage on GitLab in a research report on Thursday, September 11th. They issued a "buy" rating and a $70.00 price target on the stock. KeyCorp lowered their price target on GitLab from $60.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Cantor Fitzgerald reiterated an "overweight" rating and issued a $60.00 price target on shares of GitLab in a research report on Thursday, September 4th. Weiss Ratings reiterated a "sell (e+)" rating on shares of GitLab in a research report on Wednesday, October 8th. Finally, BTIG Research lowered their price target on GitLab from $67.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.83.

About GitLab

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.

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