Deepwater Asset Management LLC Invests $4.66 Million in GitLab Inc. $GTLB

Key Points

• Deepwater Asset Management initiated a new stake in GitLab, buying 124,217 shares worth about $4.66 million in the fourth quarter.
• GitLab reported a stronger-than-expected quarter, with EPS of $0.23 versus $0.20 expected and revenue of $264.16 million, up 23.2% year over year.
• Analysts remain mixed on the stock: several firms raised price targets, but the overall consensus is still Hold, reflecting debate over GitLab’s valuation and AI-driven growth potential.

Deepwater Asset Management LLC bought a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 124,217 shares of the company's stock, valued at approximately $4,662,000. Deepwater Asset Management LLC owned 0.07% of GitLab as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of GitLab by 9.2% in the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock worth $688,902,000 after buying an additional 1,285,881 shares during the period. Eminence Capital LP raised its holdings in shares of GitLab by 15.9% during the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company's stock worth $324,924,000 after acquiring an additional 989,122 shares in the last quarter. Atreides Management LP raised its holdings in shares of GitLab by 38.9% during the third quarter. Atreides Management LP now owns 5,470,305 shares of the company's stock worth $246,601,000 after acquiring an additional 1,532,107 shares in the last quarter. Champlain Investment Partners LLC raised its holdings in shares of GitLab by 4.2% during the third quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company's stock worth $212,024,000 after acquiring an additional 191,084 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of GitLab by 35.6% during the third quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company's stock worth $159,297,000 after acquiring an additional 926,824 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Price Performance

NASDAQ GTLB opened at $31.12 on Monday. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $52.38. The stock's 50-day moving average is $24.08 and its two-hundred day moving average is $30.06. The firm has a market cap of $5.29 billion, a P/E ratio of -194.50 and a beta of 0.96.

GitLab (NASDAQ:GTLB - Get Free Report) last posted 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. The company 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 business's revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, equities analysts expect that GitLab Inc. will post -0.32 EPS for the current year.

Key Stories Impacting GitLab

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: DA Davidson issued a positive forecast for GitLab, and JPMorgan raised its price target to $32, signaling some analysts still see upside from current levels. DA Davidson Issues Positive Forecast for GitLab NASDAQ: GTLB Stock Price GitLab NASDAQ: GTLB Given New $32.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Coverage highlighting GitLab’s “price recovery” says the company may be well-positioned for long-term growth as its agentic AI push gains traction, especially with customers focused on compliance and security. GitLab’s Price Recovery Gains Traction—Time to Get On Board?
• Positive Sentiment: GitLab is continuing to emphasize AI strategy and shifting monetization in its Q1 deep dive, which may support the investment case if it translates into stronger enterprise demand and better revenue growth. GTLB Q1 Deep Dive: AI Strategy, Workforce Restructuring, and Shifting Monetization Shape Outlook
• Neutral Sentiment: GitLab’s Q1 results presentation and conference transcript kept attention on execution details, but these items mainly reinforced existing investor focus rather than introducing a major new catalyst. GitLab Inc. 2027 Q1 - Results - Earnings Call Presentation GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Analyst opinions remain split, with some mixed commentary suggesting the market is still debating GitLab’s near-term valuation versus its longer-term AI opportunity. Analysts’ Opinions Are Mixed on These Technology Stocks: Gitlab (GTLB) and Nvidia (NVDA)
• Negative Sentiment: One Seeking Alpha piece argues GitLab is still not an attractive buy, reflecting ongoing concerns about valuation or execution risk. GitLab Inc.: Now Is Still Not The Time To Buy
• Negative Sentiment: GitLab cut 14% of its workforce to support its AI ambitions, a move that can improve efficiency but also signals restructuring pressure and near-term execution risk. GitLab Cuts 14% of Workforce to Fuel AI Agentic Era Ambitions

Analyst Ratings Changes

Several analysts recently issued reports on GTLB shares. Royal Bank Of Canada increased their price objective on GitLab from $25.00 to $29.00 and gave the stock a "sector perform" rating in a report on Wednesday. Bank of America reiterated a "neutral" rating on shares of GitLab in a report on Wednesday. UBS Group increased their price objective on GitLab from $24.00 to $32.00 and gave the stock a "neutral" rating in a report on Wednesday. Wells Fargo & Company cut their price objective on GitLab from $45.00 to $26.00 and set an "equal weight" rating for the company in a report on Wednesday, March 4th. Finally, Wolfe Research reiterated an "outperform" rating and set a $36.00 price objective on shares of GitLab in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nineteen have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $36.64.

Insider Transactions at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the transaction, the director directly owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of GitLab stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares in the company, valued at $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,392,308 shares of company stock worth $31,654,249 over the last quarter. 10.64% of the stock is currently owned by corporate insiders.

GitLab 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.

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.