Clear Creek Financial Management LLC Invests $392,000 in GitLab Inc. $GTLB

Key Points

• Clear Creek Financial Management LLC has invested approximately $392,000 in GitLab Inc., acquiring 8,700 shares of the company.
• GitLab reported a net loss with earnings per share of ($0.03), missing analysts' expectations of $0.16, despite achieving a 29.2% year-over-year revenue growth.
• The stock is primarily owned by institutional investors, with 95.04% of the shares held by hedge funds and other entities, indicating strong institutional interest.

Clear Creek Financial Management LLC purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 8,700 shares of the company's stock, valued at approximately $392,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of GTLB. GAMMA Investing LLC lifted its stake in shares of GitLab by 9,968.3% in the first quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after buying an additional 42,764 shares in the last quarter. Park Avenue Securities LLC lifted its stake in shares of GitLab by 5.3% in the first quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock worth $357,000 after buying an additional 381 shares in the last quarter. Wealthcare Advisory Partners LLC lifted its stake in shares of GitLab by 19.3% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after buying an additional 1,065 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of GitLab by 18.7% in the first quarter. Handelsbanken Fonder AB now owns 36,800 shares of the company's stock worth $1,730,000 after buying an additional 5,800 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of GitLab by 64.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 172,866 shares of the company's stock worth $8,125,000 after buying an additional 67,559 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Price Performance

Shares of GTLB opened at $44.61 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 $7.44 billion, a PE ratio of -1,115.25 and a beta of 0.73. The firm has a 50-day simple moving average of $46.08 and a two-hundred day simple moving average of $45.78.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The company had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. GitLab's 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, sell-side analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

GTLB has been the topic of several research reports. Wells Fargo & Company initiated coverage on shares of GitLab in a research note on Tuesday, September 30th. They issued an "equal weight" rating and a $50.00 price target on the stock. Canaccord Genuity Group reduced their target price on shares of GitLab from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. BTIG Research reduced their target price on shares of GitLab from $67.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, September 4th. Capital One Financial downgraded shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a research note on Wednesday, July 16th. Finally, Barclays reduced their target price on shares of GitLab from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, GitLab presently has a consensus rating of "Moderate Buy" and an average target price of $58.83.

Insider Activity at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $50.14, for a total transaction of $5,445,204.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Simon Mundy sold 5,191 shares of GitLab stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total transaction of $228,352.09. Following the completion of the transaction, the chief accounting officer owned 53,507 shares of the company's stock, valued at $2,353,772.93. This trade represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,224,362 shares of company stock valued at $59,723,796 in the last ninety days. Insiders own 16.37% of the company's stock.

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.

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