1,284,480 Shares in GitLab Inc. $GTLB Acquired by Champlain Investment Partners LLC

Key Points

• Champlain Investment Partners LLC has acquired a new stake in GitLab Inc., purchasing approximately 1.28 million shares valued at $60.37 million, holding about 0.79% of the company.
• Institutional investors own a significant majority of GitLab, with 95.04% of the company's stock held by such investors, reflecting strong institutional interest.
• GitLab reported a 26.8% year-over-year revenue increase for the quarter, with earnings per share of $0.17, surpassing analysts' expectations.

Champlain Investment Partners LLC purchased a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,284,480 shares of the company's stock, valued at approximately $60,371,000. Champlain Investment Partners LLC owned approximately 0.79% of GitLab as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in GTLB. 1832 Asset Management L.P. boosted its stake in shares of GitLab by 2,456.8% during the 1st quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock worth $107,865,000 after acquiring an additional 2,205,238 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock worth $121,435,000 after acquiring an additional 1,583,221 shares in the last quarter. ARK Investment Management LLC boosted its stake in shares of GitLab by 109.1% during the 1st quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock worth $114,038,000 after acquiring an additional 1,265,830 shares in the last quarter. Nikko Asset Management Americas Inc. boosted its stake in shares of GitLab by 175.1% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock worth $65,529,000 after acquiring an additional 888,900 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of GitLab by 161.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,067 shares of the company's stock worth $62,325,000 after acquiring an additional 818,354 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insiders Place Their Bets

In other GitLab news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the sale, the director owned 103,889 shares in the company, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director owned 551,997 shares of the company's stock, valued at $23,360,513.04. This represents a 18.99% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 464,950 shares of company stock worth $20,025,356. 21.36% of the stock is currently owned by company insiders.

GitLab Stock Down 2.1%

Shares of GTLB stock traded down $1.01 during mid-day trading on Monday, reaching $48.02. The stock had a trading volume of 4,988,744 shares, compared to its average volume of 4,543,735. The firm's 50 day simple moving average is $44.46 and its 200 day simple moving average is $47.84. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The firm has a market cap of $7.93 billion, a PE ratio of 480.20 and a beta of 0.74.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The company had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same quarter last year, the company earned $0.03 EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTLB has been the subject of several recent analyst reports. JPMorgan Chase & Co. decreased their target price on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Macquarie restated an "outperform" rating and set a $75.00 target price on shares of GitLab in a research note on Wednesday, June 25th. Canaccord Genuity Group decreased their target price on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, June 12th. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 target price on shares of GitLab in a research note on Tuesday, June 24th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $62.00 target price on shares of GitLab in a research note on Wednesday, June 25th. Twenty research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.