GitLab Inc. $GTLB Shares Bought by First Trust Advisors LP

Key Points

• First Trust Advisors LP increased its GitLab stake by 19.7% in the first quarter, buying 312,312 additional shares to own 1.89 million shares valued at approximately $41 million. Institutional investors and hedge funds collectively own 95.04% of the stock.
• GitLab’s latest quarterly results exceeded expectations, with EPS of $0.23 versus the $0.20 consensus and revenue of $264.16 million, up 23.2% year over year. The company reported a slightly negative net margin but positive return on equity.
• GTLB recently traded at $32.88, while analysts maintain a consensus “Hold” rating and an average price target of $36.58. Director Sytse Sijbrandij also sold 116,200 shares under a pre-arranged Rule 10b5-1 plan.

First Trust Advisors LP raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 19.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,893,926 shares of the company's stock after buying an additional 312,312 shares during the quarter. First Trust Advisors LP owned approximately 1.11% of GitLab worth $40,985,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of GTLB. Goldman Sachs Group Inc. increased its holdings in shares of GitLab by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company's stock valued at $36,496,000 after acquiring an additional 12,200 shares during the period. Woodline Partners LP acquired a new stake in GitLab during the 1st quarter worth $314,000. Russell Investments Group Ltd. grew its position in GitLab by 31.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company's stock worth $321,000 after purchasing an additional 1,709 shares during the last quarter. California Public Employees Retirement System grew its position in GitLab by 17.0% during the 2nd quarter. California Public Employees Retirement System now owns 167,870 shares of the company's stock worth $7,573,000 after purchasing an additional 24,448 shares during the last quarter. Finally, State Street Corp increased its stake in GitLab by 7.0% in the second quarter. State Street Corp now owns 2,283,597 shares of the company's stock valued at $103,013,000 after purchasing an additional 148,713 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Performance

GTLB stock opened at $32.88 on Tuesday. The stock has a market capitalization of $5.55 billion, a PE ratio of -205.50 and a beta of 0.96. The company has a fifty day moving average of $29.95 and a 200-day moving average of $27.82. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38.

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

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the transaction, the director owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company's stock.

Analyst Ratings Changes

GTLB has been the subject of a number of research reports. Raymond James Financial reaffirmed a "market perform" rating on shares of GitLab in a report on Tuesday, May 19th. TD Cowen reissued a "hold" rating and set a $29.00 price target on shares of GitLab in a report on Wednesday, June 3rd. Royal Bank Of Canada boosted their price target on GitLab from $25.00 to $29.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 3rd. Guggenheim reaffirmed a "neutral" rating on shares of GitLab in a research note on Wednesday, June 3rd. Finally, DA Davidson increased their price objective on GitLab from $24.00 to $35.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.58.

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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