Eminence Capital LP Acquires 299,191 Shares of GitLab Inc. $GTLB

Key Points

• Eminence Capital LP increased its stake in GitLab Inc. by 13.6%, owning a total of 2,498,201 shares after acquiring 299,191 shares in the most recent quarter.
• GitLab reported a quarterly earnings per share (EPS) of $0.17, exceeding analysts' expectations, with revenue of $214.51 million, up 26.8% year-over-year.
• Over 95% of GitLab's stock is held by institutional investors, indicating strong institutional interest in the company.

Eminence Capital LP raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 13.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,498,201 shares of the company's stock after purchasing an additional 299,191 shares during the quarter. GitLab comprises approximately 2.0% of Eminence Capital LP's investment portfolio, making the stock its 25th biggest holding. Eminence Capital LP owned 1.54% of GitLab worth $117,415,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of GitLab by 2.3% during the first quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock valued at $631,936,000 after acquiring an additional 302,864 shares during the period. Ameriprise Financial Inc. increased its stake in shares of GitLab by 15.4% during the first quarter. Ameriprise Financial Inc. now owns 2,487,608 shares of the company's stock valued at $116,919,000 after acquiring an additional 332,592 shares during the period. ARK Investment Management LLC increased its stake in shares of GitLab by 109.1% during the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after acquiring an additional 1,265,830 shares during the period. 1832 Asset Management L.P. increased its stake in shares of GitLab by 2,456.8% during the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock valued at $107,865,000 after acquiring an additional 2,205,238 shares during the period. Finally, Invesco Ltd. boosted its holdings in GitLab by 22.0% during the first quarter. Invesco Ltd. now owns 1,603,520 shares of the company's stock worth $75,365,000 after buying an additional 289,683 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on GTLB. Piper Sandler reduced their target price on shares of GitLab from $85.00 to $70.00 and set an "overweight" rating for the company in a report on Thursday. Truist Financial reduced their target price on shares of GitLab from $75.00 to $55.00 and set a "buy" rating for the company in a report on Thursday. Macquarie restated an "outperform" rating and set a $75.00 target price on shares of GitLab in a report on Thursday. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 target price on shares of GitLab in a report on Tuesday, June 24th. Finally, Cowen reaffirmed a "buy" rating on shares of GitLab in a research note on Friday, June 6th. Nineteen investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $58.39.

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of GitLab stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the sale, the director directly owned 551,997 shares of the company's stock, valued at $23,360,513.04. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 464,950 shares of company stock valued at $20,025,356 in the last quarter. Company insiders own 16.37% of the company's stock.

GitLab Price Performance

GitLab stock traded up $2.27 during midday trading on Friday, reaching $45.73. The stock had a trading volume of 7,975,383 shares, compared to its average volume of 5,623,291. The firm's fifty day simple moving average is $44.79 and its two-hundred day simple moving average is $47.19. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of -1,143.25 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The company had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.80%. The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the business posted $0.03 EPS. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. As a group, sell-side analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

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.