GitLab Inc. $GTLB Holdings Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. significantly increased its stake in GitLab by acquiring an additional 736,491 shares, raising its holdings by 1,901.4% to a total of 775,225 shares valued at approximately $36.4 million.
• GitLab reported a 26.8% increase in revenue year-over-year, totaling $214.51 million, and achieved earnings per share of $0.17 for the most recent quarter, exceeding forecasts.
• Institutional investors own over 95% of GitLab's stock, with other major firms also increasing their stakes, indicating a strong interest from large investors in the company.

American Century Companies Inc. boosted its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 1,901.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 775,225 shares of the company's stock after purchasing an additional 736,491 shares during the quarter. American Century Companies Inc. owned about 0.48% of GitLab worth $36,436,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in GitLab by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock valued at $631,936,000 after buying an additional 302,864 shares during the period. ARK Investment Management LLC grew its holdings in GitLab by 109.1% in the 1st quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after buying an additional 1,265,830 shares during the period. Ameriprise Financial Inc. grew its holdings in GitLab by 276.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after buying an additional 1,583,221 shares during the period. Invesco Ltd. grew its holdings in GitLab by 22.0% in the 1st quarter. Invesco Ltd. now owns 1,603,520 shares of the company's stock valued at $75,365,000 after buying an additional 289,683 shares during the period. Finally, Bank of America Corp DE grew its holdings in GitLab by 78.1% in the 4th quarter. Bank of America Corp DE now owns 1,423,487 shares of the company's stock valued at $80,213,000 after buying an additional 624,235 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Insiders Place Their Bets

In other news, Director Karen Blasing sold 3,250 shares of the stock in a transaction on 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 transaction, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, August 18th. The stock was 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. Insiders have sold 464,950 shares of company stock valued at $20,025,356 over the last three months. Company insiders own 21.36% of the company's stock.

Analyst Ratings Changes

GTLB has been the subject of several recent analyst reports. BTIG Research lowered their price target on GitLab from $86.00 to $67.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Macquarie restated an "outperform" rating and issued a $75.00 price target on shares of GitLab in a report on Wednesday, June 25th. Raymond James Financial decreased their target price on GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a report on Wednesday, June 11th. UBS Group decreased their target price on GitLab from $85.00 to $73.00 and set a "buy" rating for the company in a report on Wednesday, June 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $62.00 target price on shares of GitLab in a report on Wednesday, June 25th. One analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.83.

GitLab Price Performance

Shares of GTLB stock traded up $0.2130 on Monday, hitting $45.3930. 1,514,866 shares of the stock traded hands, compared to its average volume of 3,509,392. The company has a market capitalization of $7.50 billion, a PE ratio of 454.37 and a beta of 0.73. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The company's fifty day moving average is $43.97 and its 200 day moving average is $48.66.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business had revenue of $214.51 million for 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 business's revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the company posted $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, equities research analysts expect that GitLab Inc. will post -0.31 EPS for the current year.

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.