GitLab Inc. $GTLB Shares Bought 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. increased its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1,901.4% in the 1st quarter, according to the company in its most recent disclosure 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 period. American Century Companies Inc. owned 0.48% of GitLab worth $36,436,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of GTLB. Raymond James Financial Inc. acquired a new stake in GitLab during the fourth quarter worth about $3,392,000. Barclays PLC increased its position in GitLab by 8.5% during the fourth quarter. Barclays PLC now owns 66,629 shares of the company's stock worth $3,754,000 after purchasing an additional 5,210 shares during the last quarter. Mariner LLC increased its position in shares of GitLab by 1.7% during the fourth quarter. Mariner LLC now owns 12,583 shares of the company's stock valued at $709,000 after acquiring an additional 214 shares during the last quarter. NewEdge Advisors LLC increased its position in shares of GitLab by 6,045.0% during the fourth quarter. NewEdge Advisors LLC now owns 9,156 shares of the company's stock valued at $516,000 after acquiring an additional 9,007 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of GitLab by 30.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 85,949 shares of the company's stock valued at $4,843,000 after acquiring an additional 19,846 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Stock Down 3.2%

GitLab stock traded down $1.46 during trading on Tuesday, reaching $43.77. The stock had a trading volume of 5,694,163 shares, compared to its average volume of 4,242,118. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The business has a 50 day moving average price of $44.07 and a 200 day moving average price of $48.45. The stock has a market cap of $7.23 billion, a PE ratio of 437.70 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The company had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same quarter in the previous year, the firm earned $0.03 earnings per share. The firm's quarterly revenue was up 26.8% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, equities analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Insiders Place Their Bets

In other GitLab news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the sale, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,950 shares of company stock valued at $20,025,356. 21.36% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GTLB. Capital One Financial cut shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target for the company. in a research report on Wednesday, July 16th. Needham & Company LLC dropped their price target on shares of GitLab from $85.00 to $55.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Barclays dropped their price target on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research report on Wednesday, June 11th. UBS Group dropped their price target on shares of GitLab from $85.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, Rosenblatt Securities began coverage on shares of GitLab in a research report on Tuesday, July 15th. They set a "buy" rating and a $58.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $62.83.

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.