GitLab Inc. $GTLB Holdings Lifted by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its holdings in GitLab Inc. by 35.7%, now owning approximately 1.1% of the company's stock, valued at $148.5 million.
• Several institutional investors, including Cullen Frost Bankers Inc. and Harbour Investments Inc., have significantly modified their holdings in GitLab, indicating strong interest in the stock.
• Despite a notable revenue growth of 29.2% year-over-year, GitLab reported a loss of ($0.03) earnings per share in its latest quarter, missing estimates by ($0.19).

ARK Investment Management LLC increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 35.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,292,685 shares of the company's stock after buying an additional 866,353 shares during the quarter. GitLab accounts for approximately 1.1% of ARK Investment Management LLC's holdings, making the stock its 28th biggest position. ARK Investment Management LLC owned approximately 1.99% of GitLab worth $148,533,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of GTLB. Cullen Frost Bankers Inc. grew its holdings in shares of GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after buying an additional 334 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in GitLab during the first quarter valued at $29,000. Twin Tree Management LP acquired a new stake in GitLab during the first quarter valued at $29,000. Harbour Investments Inc. boosted its position in GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company's stock valued at $42,000 after purchasing an additional 734 shares during the last quarter. Finally, GAMMA Investing LLC boosted its position in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction dated Monday, August 18th. The stock was 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 SEC, which is available through this link. Also, Director Matthew Jacobson sold 396,147 shares of the business's stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the transaction, the director owned 73,299 shares in the company, valued at $3,703,798.47. This represents a 84.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,224,362 shares of company stock valued at $59,828,897. 21.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

GTLB has been the subject of a number of research reports. Canaccord Genuity Group reduced their price objective on GitLab from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, September 4th. DA Davidson reduced their price objective on GitLab from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Thursday, September 4th. Piper Sandler reduced their price objective on GitLab from $85.00 to $70.00 and set an "overweight" rating for the company in a research report on Thursday, September 4th. Rosenblatt Securities reissued a "buy" rating and set a $58.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Finally, Wells Fargo & Company assumed coverage on GitLab in a research report on Tuesday, September 30th. They set an "equal weight" rating and a $50.00 price objective for the company. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $58.83.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $49.51 on Wednesday. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The stock has a market capitalization of $8.25 billion, a P/E ratio of -1,237.75 and a beta of 0.73. The business has a 50-day moving average of $46.70 and a two-hundred day moving average of $45.76.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $236.00 million for the quarter, compared to the consensus estimate of $227.20 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The company's revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, research analysts expect 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.

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