Fox Run Management L.L.C. Sells 14,524 Shares of GitLab Inc. $GTLB

Key Points

• Fox Run Management L.L.C. reduced its stake in GitLab Inc. by 73.8%, now holding 5,164 shares valued at approximately $243,000.
• Multiple institutional investors have increased their positions in GitLab, with a majority of the company's stock, 95.04%, owned by such investors.
• Analyst ratings for GitLab show a consensus of Moderate Buy with a target price averaging around $62.63, despite differing target prices from various firms.

Fox Run Management L.L.C. lowered its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 73.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,164 shares of the company's stock after selling 14,524 shares during the quarter. Fox Run Management L.L.C.'s holdings in GitLab were worth $243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Oak Ridge Investments LLC purchased a new position in shares of GitLab in the first quarter worth $1,527,000. Vestmark Advisory Solutions Inc. lifted its holdings in GitLab by 57.8% in the first quarter. Vestmark Advisory Solutions Inc. now owns 52,470 shares of the company's stock valued at $2,466,000 after acquiring an additional 19,209 shares during the period. Lord Abbett & CO. LLC boosted its position in GitLab by 100.9% in the first quarter. Lord Abbett & CO. LLC now owns 638,793 shares of the company's stock worth $30,024,000 after purchasing an additional 320,784 shares during the last quarter. Neuberger Berman Group LLC boosted its position in GitLab by 80.2% in the first quarter. Neuberger Berman Group LLC now owns 49,456 shares of the company's stock worth $2,324,000 after purchasing an additional 22,010 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd grew its stake in shares of GitLab by 87.2% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 2,185 shares of the company's stock valued at $103,000 after purchasing an additional 1,018 shares during the period. Hedge funds and other institutional investors own 95.04% of the company's stock.

Analysts Set New Price Targets

GTLB has been the subject of a number of recent research reports. DA Davidson initiated coverage on GitLab in a research note on Friday. They set a "neutral" rating and a $50.00 price target for the company. Wells Fargo & Company cut their price target on GitLab from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Wednesday, June 11th. The Goldman Sachs Group restated a "neutral" rating and set a $50.00 price target on shares of GitLab in a research note on Tuesday, June 24th. Canaccord Genuity Group cut their price target on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, June 12th. Finally, Mizuho cut their price target on GitLab from $72.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. One analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, GitLab currently has an average rating of "Moderate Buy" and a consensus target price of $62.83.

GitLab Stock Down 3.2%

GTLB traded down $1.46 during midday trading on Tuesday, reaching $43.77. The company had a trading volume of 5,694,163 shares, compared to its average volume of 4,242,118. The company has a market cap of $7.23 billion, a P/E ratio of 437.70 and a beta of 0.73. The business has a 50-day moving average of $44.07 and a two-hundred day moving average of $48.45. GitLab Inc. has a 1 year low of $37.90 and a 1 year high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The business's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. On average, equities research analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Insider Transactions at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the transaction, the director owned 103,889 shares of the company's stock, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction dated Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock valued at $20,025,356 over the last 90 days. Company insiders own 21.36% of the company's stock.

About GitLab

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.