Carmignac Gestion Lowers Position in GitLab Inc. $GTLB

Key Points

• Carmignac Gestion reduced its GitLab stake by 27.7% in the first quarter, selling 363,000 shares and retaining 947,000 shares worth approximately $20.5 million. Institutional investors collectively own 95.04% of GitLab.
• GitLab exceeded quarterly expectations, reporting $0.23 in earnings per share versus the $0.20 consensus estimate and revenue of $264.16 million, up 23.2% year over year.
• Analyst sentiment remains mixed, with a consensus rating of Hold and an average price target of $36.58; the stock recently opened at $34.51 and has traded between $18.73 and $52.38 over the past year.

Carmignac Gestion lessened its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 27.7% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 947,000 shares of the company's stock after selling 363,000 shares during the period. Carmignac Gestion owned 0.56% of GitLab worth $20,493,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of GTLB. Eminence Capital LP grew its stake in shares of GitLab by 6.9% during the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company's stock valued at $289,065,000 after acquiring an additional 494,497 shares during the period. AQR Capital Management LLC raised its stake in GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock worth $203,915,000 after acquiring an additional 4,806,163 shares during the period. Atreides Management LP lifted its holdings in GitLab by 867.3% during the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock valued at $177,652,000 after purchasing an additional 3,531,070 shares in the last quarter. SG Americas Securities LLC lifted its holdings in GitLab by 6,528.0% during the first quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company's stock valued at $67,850,000 after purchasing an additional 3,088,089 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of GitLab by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company's stock worth $102,216,000 after purchasing an additional 97,342 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the transaction, the director owned 14,902,051 shares in the company, valued at $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

GTLB has been the subject of a number of analyst reports. Bank of America reissued a "neutral" rating on shares of GitLab in a research note on Wednesday, June 3rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $43.00 target price on shares of GitLab in a report on Monday, June 1st. Guggenheim reaffirmed a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. Needham & Company LLC increased their price target on GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Finally, Sanford C. Bernstein reissued an "outperform" rating on shares of GitLab in a report on Monday, June 29th. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have issued a Hold rating and three have issued 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 $36.58.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $34.51 on Monday. The company has a market cap of $5.83 billion, a price-to-earnings ratio of -215.69 and a beta of 0.94. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38. The company has a 50-day moving average price of $30.56 and a 200 day moving average price of $27.76.

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

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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