Cinctive Capital Management LP Grows Stock Position in GitLab Inc. $GTLB

Key Points

• Cinctive Capital Management LP significantly increased its stake in GitLab Inc. by 1,584.2% during the first quarter, owning 381,317 shares worth approximately $17.9 million.
• Institutional investors now own 95.04% of GitLab's stock, with notable increases in holdings from firms like Vanguard Group Inc. and ARK Investment Management LLC.
• Analysts have mixed ratings on GitLab, with an average rating of "Moderate Buy" and a target price of $61.91, despite some downgrades in target prices lately.

Cinctive Capital Management LP increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1,584.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 381,317 shares of the company's stock after acquiring an additional 358,676 shares during the period. GitLab makes up approximately 1.4% of Cinctive Capital Management LP's portfolio, making the stock its 15th biggest holding. Cinctive Capital Management LP owned 0.23% of GitLab worth $17,922,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Alliancebernstein L.P. grew its holdings in GitLab by 5.2% during the first quarter. Alliancebernstein L.P. now owns 1,530,688 shares of the company's stock worth $71,942,000 after acquiring an additional 75,303 shares during the period. Banque Transatlantique SA acquired a new position in GitLab during the first quarter worth $83,000. Amundi grew its holdings in GitLab by 45.0% during the first quarter. Amundi now owns 894,156 shares of the company's stock worth $42,025,000 after acquiring an additional 277,350 shares during the period. Focus Partners Advisor Solutions LLC acquired a new position in GitLab during the first quarter worth $214,000. Finally, Twin Tree Management LP acquired a new position in GitLab during the first quarter worth $29,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Activity at GitLab

In related news, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the 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 transaction, the director owned 103,889 shares in the company, valued at $4,675,005. This trade represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 464,950 shares of company stock valued at $20,025,356 over the last quarter. Insiders own 16.37% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $62.00 price objective on shares of GitLab in a report on Wednesday, June 25th. Capital One Financial lowered GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a report on Wednesday, July 16th. Zacks Research raised GitLab to a "strong sell" rating in a report on Monday, August 11th. Scotiabank lowered their target price on GitLab from $80.00 to $67.00 and set a "sector outperform" rating on the stock in a report on Friday, June 6th. Finally, Macquarie reissued an "outperform" rating and issued a $75.00 target price on shares of GitLab in a report on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $58.39.

GitLab Stock Up 5.2%

Shares of GTLB traded up $2.27 during trading hours on Friday, reaching $45.73. 7,975,383 shares of the company traded hands, compared to its average volume of 5,623,291. The stock has a market capitalization of $7.55 billion, a PE ratio of -1,143.25 and a beta of 0.75. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The stock has a fifty day simple moving average of $44.79 and a 200 day simple moving average of $47.19.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative return on equity of 2.80% and a negative net margin of 0.55%.The business's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $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. Research analysts predict 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.