Carmel Capital Partners LLC Has $1.97 Million Stock Holdings in GitLab Inc. $GTLB

Key Points

• Carmel Capital Partners LLC increased its holdings in GitLab Inc. by 41.4% during the second quarter, now owning 43,630 shares valued at approximately $1.97 million.
• Insider transactions show significant sales, with director Matthew Jacobson selling 396,147 shares for more than $20 million, reflecting an 84.39% decrease in his position.
• Despite a 6.1% decline in share price recently, GitLab reported a 29.2% increase in revenue year-over-year, though it missed earnings expectations with a reported loss of ($0.03) EPS.

Carmel Capital Partners LLC grew its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 41.4% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 43,630 shares of the company's stock after buying an additional 12,779 shares during the quarter. Carmel Capital Partners LLC's holdings in GitLab were worth $1,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of GitLab by 2.3% in the first 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 in the last quarter. Eminence Capital LP boosted its holdings in GitLab by 13.6% in the first quarter. Eminence Capital LP now owns 2,498,201 shares of the company's stock valued at $117,415,000 after acquiring an additional 299,191 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in GitLab by 15.4% in the first quarter. Ameriprise Financial Inc. now owns 2,487,608 shares of the company's stock valued at $116,919,000 after acquiring an additional 332,592 shares during the last quarter. ARK Investment Management LLC boosted its holdings in GitLab by 109.1% in the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after acquiring an additional 1,265,830 shares during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in GitLab by 2,456.8% in the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock valued at $107,865,000 after acquiring an additional 2,205,238 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 396,147 shares of GitLab stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the transaction, the director owned 73,299 shares in the company, valued at $3,703,798.47. The trade was a 84.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated Monday, August 18th. The shares were 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. Over the last quarter, insiders have sold 1,224,362 shares of company stock worth $59,828,897. Company insiders own 16.37% of the company's stock.

GitLab Trading Down 6.1%

Shares of GTLB opened at $45.31 on Friday. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18. The stock has a market cap of $7.55 billion, a P/E ratio of -1,132.75 and a beta of 0.73. The stock's 50-day moving average price is $46.33 and its two-hundred day moving average price is $45.69.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.19). GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The company had revenue of $236.00 million for the quarter, compared to the consensus estimate of $227.20 million. During the same quarter last year, the business posted $0.15 EPS. GitLab's quarterly revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, equities analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GTLB. Weiss Ratings reiterated a "sell (e+)" rating on shares of GitLab in a report on Wednesday, October 8th. KeyCorp decreased their price target on GitLab from $60.00 to $53.00 and set an "overweight" rating on the stock in a report on Thursday, September 4th. Canaccord Genuity Group decreased their price target on GitLab from $76.00 to $70.00 and set a "buy" rating on the stock in a report on Thursday, September 4th. Guggenheim began coverage on GitLab in a report on Thursday, September 11th. They issued a "buy" rating and a $70.00 price target on the stock. Finally, BTIG Research decreased their price target on GitLab from $67.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $58.83.

About GitLab

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.

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