GitLab Inc. $GTLB Shares Acquired by Carmignac Gestion

Key Points

• Carmignac Gestion increased its GitLab stake by 55.8% in the second quarter, purchasing 528,612 additional shares and bringing its holdings to 1.48 million shares worth approximately $45.1 million.
• GitLab reported quarterly revenue of $286.25 million and adjusted EPS of $0.24, beating analyst estimates of $273.13 million and $0.18, respectively. Revenue rose 21.3% year over year, although the company remained unprofitable on a net-margin basis.
• Shares recently fell 5.4% to $47.15, while analysts maintained a consensus “Hold” rating with an average price target of $51.75; seven analysts rate the stock a Buy, 18 a Hold, and three a Sell.

Carmignac Gestion lifted its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 55.8% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,475,612 shares of the company's stock after purchasing an additional 528,612 shares during the quarter. Carmignac Gestion owned about 0.87% of GitLab worth $45,050,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Allworth Financial LP lifted its position in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $25,000 after buying an additional 309 shares in the last quarter. Main Management ETF Advisors LLC increased its position in shares of GitLab by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company's stock worth $1,264,000 after acquiring an additional 344 shares in the last quarter. Utah Retirement Systems increased its position in shares of GitLab by 6.6% in the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company's stock worth $278,000 after acquiring an additional 460 shares in the last quarter. Larson Financial Group LLC raised its stake in shares of GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock valued at $45,000 after acquiring an additional 481 shares during the period. Finally, Quarry LP raised its stake in shares of GitLab by 72.5% in the 4th quarter. Quarry LP now owns 1,202 shares of the company's stock valued at $45,000 after acquiring an additional 505 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Trading Down 5.4%

NASDAQ GTLB traded down $2.68 during mid-day trading on Tuesday, reaching $47.15. 4,373,616 shares of the company's stock traded hands, compared to its average volume of 5,913,600. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $55.55. The company has a fifty day simple moving average of $37.74 and a 200-day simple moving average of $29.40. The company has a market cap of $7.96 billion, a price-to-earnings ratio of -147.34 and a beta of 0.99.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.06. The company had revenue of $286.25 million for the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%.GitLab's quarterly revenue was up 21.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. Equities research analysts forecast that GitLab Inc. will post -0.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GTLB shares. BTIG Research upped their price target on shares of GitLab from $52.00 to $60.00 and gave the stock a "buy" rating in a research report on Wednesday, September 2nd. Bank of America upped their target price on GitLab from $45.00 to $54.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 2nd. DA Davidson increased their price objective on shares of GitLab from $45.00 to $55.00 and gave the company a "neutral" rating in a research report on Wednesday, September 2nd. Raymond James Financial restated a "market perform" rating on shares of GitLab in a research note on Tuesday, May 19th. Finally, Royal Bank Of Canada lifted their price target on shares of GitLab from $46.00 to $60.00 and gave the stock a "sector perform" rating in a research note on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $51.75.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction on Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the sale, the director directly owned 14,902,051 shares of the company's stock, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total transaction of $331,550.00. Following the transaction, the chief accounting officer owned 105,332 shares in the company, valued at $4,002,616. This trade represents a 7.65% 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. 10.64% of the stock is currently owned by insiders.

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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