Delta Global Management LP Acquires 67,113 Shares of GitLab Inc. $GTLB

Key Points

• Delta Global Management increased its GitLab stake by 133%, adding 67,113 shares to hold 117,587 shares worth about $5.3M (≈0.07% of the company) at quarter end.
• Heavy insider selling occurred recently — directors sold 334,827 and 54,300 shares respectively, leaving insiders with 21.36% ownership and total insider sales of 449,444 shares (~$16.5M) in the last quarter.
• GitLab beat the quarter with $0.30 EPS (vs. $0.23 est.) and $260.4M revenue (+23.2% YoY) but remains unprofitable; analysts have trimmed price targets and the consensus rating is currently a Hold (consensus PT $39.62).

Delta Global Management LP increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 133.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 117,587 shares of the company's stock after acquiring an additional 67,113 shares during the period. Delta Global Management LP owned about 0.07% of GitLab worth $5,301,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its stake in GitLab by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company's stock worth $36,496,000 after purchasing an additional 12,200 shares during the period. Woodline Partners LP purchased a new stake in shares of GitLab during the first quarter valued at $314,000. Campbell & CO Investment Adviser LLC bought a new position in shares of GitLab in the second quarter worth about $234,000. SBI Securities Co. Ltd. increased its stake in GitLab by 12.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,863 shares of the company's stock worth $174,000 after buying an additional 429 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in GitLab by 37.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,130 shares of the company's stock worth $412,000 after buying an additional 2,502 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Buying and Selling

In other GitLab news, Director Matthew Jacobson sold 334,827 shares of GitLab stock in a transaction dated Friday, December 19th. The stock was sold at an average price of $38.08, for a total value of $12,750,212.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 54,300 shares of the firm's stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 449,444 shares of company stock valued at $16,475,510. 21.36% of the stock is currently owned by insiders.

GitLab Stock Performance

NASDAQ:GTLB opened at $22.69 on Monday. The firm has a 50-day simple moving average of $30.97 and a 200-day simple moving average of $39.63. GitLab Inc. has a one year low of $22.40 and a one year high of $54.08. The firm has a market cap of $3.82 billion, a P/E ratio of -64.83 and a beta of 0.79.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. GitLab's revenue was up 23.2% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, research analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

GTLB has been the subject of several research reports. Guggenheim lowered their price objective on shares of GitLab from $60.00 to $50.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Royal Bank Of Canada reduced their target price on shares of GitLab from $40.00 to $33.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Needham & Company LLC decreased their price target on shares of GitLab from $50.00 to $32.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Rosenblatt Securities lowered their price target on GitLab from $55.00 to $43.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. Finally, Wolfe Research reissued an "outperform" rating and issued a $50.00 price objective on shares of GitLab in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $39.62.

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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