Ameriprise Financial Inc. Grows Stock Holdings in GitLab Inc. $GTLB

Key Points

• Ameriprise Financial Inc. increased its stake in GitLab Inc. by 15.4%, owning approximately 1.53% of the company with a total value of $116.9 million as of the latest SEC filing.
• Several other hedge funds significantly boosted their positions in GitLab during the first quarter, indicating strong institutional interest, with 95.04% of the company's stock now owned by institutional investors.
• GitLab's recently reported earnings showed an EPS of $0.17, beating expectations, along with a 26.8% increase in revenue compared to the same quarter last year.

Ameriprise Financial Inc. grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 15.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,487,608 shares of the company's stock after purchasing an additional 332,592 shares during the period. Ameriprise Financial Inc. owned approximately 1.53% of GitLab worth $116,919,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Whetstone Capital Advisors LLC lifted its holdings in shares of GitLab by 5.3% during the first quarter. Whetstone Capital Advisors LLC now owns 117,745 shares of the company's stock valued at $5,534,000 after purchasing an additional 5,899 shares during the last quarter. Capital Fund Management S.A. lifted its holdings in shares of GitLab by 50.7% during the first quarter. Capital Fund Management S.A. now owns 187,198 shares of the company's stock valued at $8,798,000 after purchasing an additional 63,018 shares during the last quarter. MIG Capital LLC increased its position in shares of GitLab by 126.4% during the first quarter. MIG Capital LLC now owns 13,571 shares of the company's stock valued at $638,000 after acquiring an additional 7,576 shares in the last quarter. Hsbc Holdings PLC increased its position in shares of GitLab by 131.1% during the first quarter. Hsbc Holdings PLC now owns 16,863 shares of the company's stock valued at $780,000 after acquiring an additional 9,567 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of GitLab by 26.5% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 1,049,393 shares of the company's stock valued at $49,321,000 after acquiring an additional 219,772 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 129,400 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the sale, the director directly owned 551,997 shares of the company's stock, valued at approximately $23,360,513.04. The trade was a 18.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock valued at $20,025,356 in the last 90 days. Company insiders own 16.37% of the company's stock.

GitLab Trading Up 8.0%

NASDAQ:GTLB traded up $3.49 during trading hours on Wednesday, reaching $47.26. The company had a trading volume of 4,703,205 shares, compared to its average volume of 4,352,941. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The firm's 50 day moving average price is $44.18 and its 200-day moving average price is $48.44. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of 472.60 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating 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 firm 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 posted $0.03 EPS. The company's revenue for the quarter 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.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on GTLB shares. JPMorgan Chase & Co. reduced their price target on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Scotiabank reduced their price target on shares of GitLab from $80.00 to $67.00 and set a "sector outperform" rating for the company in a research report on Friday, June 6th. Needham & Company LLC reduced 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. Cowen reissued a "buy" rating on shares of GitLab in a research report on Friday, June 6th. Finally, Raymond James Financial reduced their price target on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.83.

GitLab Company 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.