GitLab Inc. $GTLB Holdings Lifted by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its stake in GitLab Inc. by 14.9%, owning 48,879 shares valued at $2,205,000 at the end of the recent quarter.
• Analysts have mixed ratings for GitLab, with two giving a Strong Buy rating, 18 a Buy, and one a Sell, resulting in a consensus price target of $58.83.
• Recently, GitLab reported a loss of ($0.03) earnings per share, which missed estimates by ($0.19), despite a revenue increase of 29.2% year-over-year.

Janney Montgomery Scott LLC raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 14.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,879 shares of the company's stock after acquiring an additional 6,327 shares during the quarter. Janney Montgomery Scott LLC's holdings in GitLab were worth $2,205,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in GTLB. Cullen Frost Bankers Inc. boosted its stake in shares of GitLab by 174.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after buying an additional 334 shares during the period. Cloud Capital Management LLC purchased a new stake in shares of GitLab during the 1st quarter worth about $29,000. Twin Tree Management LP acquired a new stake in shares of GitLab during the 1st quarter valued at about $29,000. Harbour Investments Inc. grew its stake in shares of GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company's stock valued at $42,000 after buying an additional 734 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in GitLab by 114.2% in the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after buying an additional 490 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GTLB has been the subject of several analyst reports. Mizuho lowered shares of GitLab from an "outperform" rating to a "neutral" rating and set a $52.00 price objective for the company. in a research note on Tuesday. Needham & Company LLC reiterated a "buy" rating and set a $55.00 price target on shares of GitLab in a research note on Thursday, September 4th. Cantor Fitzgerald reissued an "overweight" rating and set a $60.00 price objective on shares of GitLab in a report on Thursday, September 4th. Guggenheim initiated coverage on GitLab in a research note on Thursday, September 11th. They issued a "buy" rating and a $70.00 price objective on the stock. Finally, Canaccord Genuity Group decreased their target price on GitLab from $76.00 to $70.00 and set a "buy" rating for the company in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $58.83.

GitLab Trading Down 4.8%

NASDAQ GTLB opened at $44.61 on Friday. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The company has a market capitalization of $7.44 billion, a price-to-earnings ratio of -1,115.25 and a beta of 0.73. The stock's 50 day moving average is $46.08 and its two-hundred day moving average is $45.82.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.19). The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The company's revenue for the quarter was up 29.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.15 EPS. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. On average, analysts predict that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Activity at GitLab

In other news, Director Matthew Jacobson sold 396,147 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the sale, the director directly owned 73,299 shares of the company's stock, valued at $3,703,798.47. This represents a 84.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Simon Mundy sold 5,191 shares of the firm's stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total transaction of $228,352.09. Following the completion of the sale, the chief accounting officer directly owned 53,507 shares of the company's stock, valued at approximately $2,353,772.93. This represents a 8.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,224,362 shares of company stock valued at $59,723,796 over the last ninety days. Company insiders own 16.37% 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.

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