GitLab Inc. $GTLB is Eminence Capital LP's 7th Largest Position

Key Points

• Eminence Capital LP increased its GitLab stake by 6.9% in the fourth quarter, ending with 7.7 million shares worth about $289.1 million. GitLab now makes up roughly 4.6% of the fund’s portfolio and is its 7th largest holding.
• Insider selling has been notable, including large share sales by directors Matthew Jacobson and Sytse Sijbrandij. In the past 90 days, insiders sold 808,399 shares valued at about $18.9 million.
• GitLab reported better-than-expected Q1 results, with EPS of $0.23 versus $0.20 expected and revenue of $264.16 million, up 23.2% year over year. Analysts currently have an average rating of Hold and a consensus price target of $36.64.

Eminence Capital LP lifted its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 6.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,702,226 shares of the company's stock after purchasing an additional 494,497 shares during the quarter. GitLab comprises approximately 4.6% of Eminence Capital LP's holdings, making the stock its 7th largest position. Eminence Capital LP owned 4.57% of GitLab worth $289,065,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GTLB. Allworth Financial LP boosted its holdings in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after acquiring an additional 309 shares in the last quarter. Quarry LP bought a new position in shares of GitLab during the third quarter valued at $31,000. Lodestone Wealth Management LLC purchased a new position in shares of GitLab in the 4th quarter worth about $36,000. Larson Financial Group LLC boosted its stake in GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock worth $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in GitLab in the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 95.04% of the company's stock.

Insider Activity at GitLab

In related news, Director Matthew Jacobson sold 459,799 shares of the business's stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the sale, the director directly owned 14,902,051 shares of the company's stock, valued at approximately $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. 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 have sold 808,399 shares of company stock valued at $18,891,476 over the last 90 days. 10.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GTLB has been the subject of a number of analyst reports. DA Davidson raised their price objective on shares of GitLab from $24.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Royal Bank Of Canada increased their price target on shares of GitLab from $25.00 to $29.00 and gave the company a "sector perform" rating in a report on Wednesday, June 3rd. Truist Financial reduced their price target on shares of GitLab from $35.00 to $25.00 and set a "hold" rating for the company in a research report on Wednesday, March 4th. Barclays decreased their price objective on shares of GitLab from $29.00 to $25.00 and set an "underweight" rating for the company in a report on Wednesday, March 4th. Finally, Canaccord Genuity Group cut their target price on GitLab from $70.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $36.64.

GitLab Price Performance

Shares of GTLB opened at $26.47 on Thursday. The firm has a market capitalization of $4.47 billion, a P/E ratio of -165.44 and a beta of 0.96. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38. The business has a fifty day moving average of $25.18 and a 200 day moving average of $29.31.

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

GitLab 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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