Bamco Inc. NY Acquires 211,604 Shares of GitLab Inc. $GTLB

Key Points

• Bamco Inc. NY increased its stake in GitLab by 15.3%, buying 211,604 shares to hold 1,598,057 shares (about 0.96% of the company) valued at roughly $72.04 million at quarter-end.
• GitLab beat the quarter with $0.30 EPS versus $0.23 expected and revenue of $260.4M (up 23.2% YoY), but remains unprofitable (negative net margin and ROE) and has seen several price-target cuts, leaving a MarketBeat consensus rating of Hold and an average target of $39.62.
• Corporate insiders have been net sellers recently, offloading 503,744 shares (≈$18.59M) over the past three months—including a 334,827-share sale by director Matthew Jacobson—while insiders still own about 16.37% of the stock.

Bamco Inc. NY increased its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 15.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,598,057 shares of the company's stock after buying an additional 211,604 shares during the period. Bamco Inc. NY owned 0.96% of GitLab worth $72,040,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its stake in shares of GitLab by 284.3% in the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company's stock worth $41,000 after acquiring an additional 671 shares during the last quarter. Global Retirement Partners LLC grew its stake in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company's stock valued at $44,000 after purchasing an additional 445 shares during the last quarter. Manchester Capital Management LLC bought a new stake in shares of GitLab during the second quarter valued at approximately $48,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of GitLab in the second quarter valued at approximately $63,000. Finally, Clearstead Advisors LLC increased its holdings in shares of GitLab by 35.2% in the third quarter. Clearstead Advisors LLC now owns 1,747 shares of the company's stock valued at $79,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

GTLB has been the topic of several research reports. BTIG Research reduced their price objective on GitLab from $32.00 to $30.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. Royal Bank Of Canada lowered their target price on GitLab from $40.00 to $33.00 and set an "outperform" rating for the company in a research note on Wednesday, March 4th. Macquarie Infrastructure downgraded GitLab from an "outperform" rating to a "neutral" rating and dropped their target price for the stock from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Mizuho cut their price target on GitLab from $37.00 to $30.00 and set a "neutral" rating on the stock in a research note on Wednesday, March 4th. Finally, Sanford C. Bernstein decreased their price target on GitLab from $70.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $39.62.

GitLab Stock Performance

GTLB opened at $22.69 on Friday. The company has a fifty day moving average price of $30.97 and a two-hundred day moving average price of $39.68. The firm has a market capitalization of $3.82 billion, a PE ratio of -64.83 and a beta of 0.79. GitLab Inc. has a 52 week low of $22.40 and a 52 week high of $54.08.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The company had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm's quarterly revenue was up 23.2% on a year-over-year basis. Equities analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling

In other news, CFO James Shen sold 2,538 shares of the business's stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the completion of the transaction, the chief financial officer directly owned 52,284 shares in the company, valued at approximately $1,990,974.72. The trade was a 4.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 334,827 shares of the company's stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 503,744 shares of company stock worth $18,590,495. Corporate insiders own 16.37% of the company's stock.

About GitLab

GitLab Inc NASDAQ: GTLB is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.

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