Fieldview Capital Management LLC Grows Stake in GitLab Inc. $GTLB

Key Points

• Fieldview Capital Management boosted its GitLab stake by 570.6% in the fourth quarter, ending with 93,334 shares valued at about $3.5 million.
• GitLab’s latest earnings beat expectations, with Q2 revenue of $264.16 million and EPS of $0.23, both above analyst estimates, while revenue rose 23.2% year over year.
• Despite the strong quarter, the stock has seen notable insider selling, including large sales by directors Matthew Jacobson and Sytse Sijbrandij; analysts currently rate GitLab a Hold on average with a consensus price target of $36.64.

Fieldview Capital Management LLC lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 570.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 93,334 shares of the company's stock after acquiring an additional 79,417 shares during the quarter. Fieldview Capital Management LLC owned 0.06% of GitLab worth $3,503,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of GitLab during the fourth quarter worth about $860,000. Ariadne Wealth Management LP acquired a new position in GitLab in the fourth quarter worth about $267,000. Kestra Advisory Services LLC acquired a new position in GitLab in the fourth quarter worth about $585,000. Marshall Wace LLP acquired a new position in GitLab in the fourth quarter worth about $13,872,000. Finally, The Manufacturers Life Insurance Company grew its stake in GitLab by 4.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 35,761 shares of the company's stock worth $1,342,000 after purchasing an additional 1,476 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at GitLab

In other GitLab news, Director Matthew Jacobson sold 700,109 shares of the company's stock in a transaction on 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 transaction, the director owned 325 shares of the company's stock, valued at approximately $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares in the company, valued at $373,203,537.35. This represents a 0.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 1,392,308 shares of company stock worth $31,654,249 in the last ninety days. 10.64% of the stock is owned by corporate insiders.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $27.79 on Friday. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38. The stock has a market cap of $4.69 billion, a price-to-earnings ratio of -173.69 and a beta of 0.96. The stock's 50 day moving average price is $24.88 and its 200 day moving average price is $29.67.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm had revenue of $264.16 million for the quarter, compared to analysts' expectations of $254.23 million. During the same quarter in the previous year, the company earned $0.17 earnings per share. The firm's quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, sell-side analysts expect that GitLab Inc. will post -0.18 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Zacks Research upgraded GitLab from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, June 9th. BTIG Research restated a "buy" rating and issued a $36.00 target price on shares of GitLab in a research note on Thursday. JPMorgan Chase & Co. lifted their target price on GitLab from $28.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Weiss Ratings upgraded GitLab from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 3rd. Finally, Wells Fargo & Company decreased their target price on GitLab from $45.00 to $26.00 and set an "equal weight" rating for the company in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, GitLab presently has an average rating of "Hold" and a consensus price target of $36.64.

GitLab Company 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.

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