California State Teachers Retirement System Has $3.35 Million Stock Position in GitLab Inc. $GTLB

Key Points

• California State Teachers Retirement System increased its GitLab stake by 21.7% in the first quarter, holding 154,699 shares worth approximately $3.35 million. Institutional investors collectively own 95.04% of GitLab.
• GitLab’s latest quarterly results exceeded expectations, with EPS of $0.23 versus a $0.20 consensus estimate and revenue of $264.16 million, up 23.2% year over year.
• Analyst sentiment remains mixed: GitLab has an overall “Hold” rating and an average price target of $36.58, while a director sold 116,200 shares for about $3.30 million under a pre-arranged Rule 10b5-1 plan.

California State Teachers Retirement System lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 21.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 154,699 shares of the company's stock after purchasing an additional 27,624 shares during the period. California State Teachers Retirement System owned 0.09% of GitLab worth $3,348,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP raised its position in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP acquired a new stake in shares of GitLab in the third quarter valued at about $31,000. Larson Financial Group LLC increased its stake in shares of GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock valued at $45,000 after buying an additional 481 shares during the period. Advisory Services Network LLC bought a new position in shares of GitLab during the third quarter worth about $48,000. Finally, Fifth Third Bancorp raised its position in shares of GitLab by 220.6% during the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company's stock worth $35,000 after acquiring an additional 1,103 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Activity

In related news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the transaction, the director directly owned 14,902,051 shares of the company's stock, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GTLB. BTIG Research reiterated a "buy" rating and issued a $36.00 target price on shares of GitLab in a report on Thursday, June 11th. Truist Financial raised their price target on shares of GitLab from $25.00 to $30.00 and gave the stock a "hold" rating in a report on Thursday, July 9th. Bank of America restated a "neutral" rating on shares of GitLab in a research report on Wednesday, June 3rd. Sanford C. Bernstein reiterated an "outperform" rating on shares of GitLab in a research report on Monday, June 29th. Finally, Zacks Research cut shares of GitLab from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $36.58.

GitLab Price Performance

NASDAQ GTLB opened at $38.97 on Monday. The stock has a market capitalization of $6.58 billion, a P/E ratio of -243.56 and a beta of 0.94. The business has a 50 day simple moving average of $31.44 and a 200 day simple moving average of $27.82. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company's revenue was up 23.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Equities analysts expect that GitLab Inc. will post -0.18 earnings per share for the current year.

GitLab Company Profile

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.

Want to see what other hedge funds are holding GTLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GitLab Inc. (NASDAQ:GTLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source