GitLab Inc. $GTLB Shares Purchased by Amundi

Key Points

• Amundi increased its GitLab stake by 66.5% in the first quarter, bringing its holdings to 97,157 shares valued at approximately $2.1 million. Institutional investors collectively own 95.04% of GitLab.
• GitLab reported quarterly EPS of $0.23, exceeding the $0.20 consensus estimate, while revenue reached $264.16 million, up 23.2% year over year and above analyst expectations.
• Despite recent trading at $38.97, above the analyst consensus target of $36.58, Wall Street’s overall rating remains “Hold.” The stock has 18 Hold ratings, six Buys, three Sells, and one Strong Buy.

Amundi lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 66.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,157 shares of the company's stock after purchasing an additional 38,819 shares during the quarter. Amundi owned about 0.06% of GitLab worth $2,102,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Allworth Financial LP raised its position in shares of GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after buying an additional 309 shares in the last quarter. Quarry LP bought a new position in shares of GitLab in the third quarter valued at approximately $31,000. Larson Financial Group LLC boosted its holdings in shares of GitLab by 92.7% in the third 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 in the last quarter. Advisory Services Network LLC acquired a new position in shares of GitLab during the third quarter valued at approximately $48,000. Finally, Fifth Third Bancorp increased its stake in shares of GitLab by 220.6% during the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company's stock valued at $35,000 after acquiring an additional 1,103 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $38.97 on Friday. The stock has a market capitalization of $6.58 billion, a P/E ratio of -243.56 and a beta of 0.94. The business has a 50-day moving average of $31.44 and a two-hundred day moving average of $27.86. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $52.38.

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

Wall Street Analyst Weigh In

GTLB has been the subject of a number of research analyst reports. TD Cowen restated a "hold" rating and issued a $29.00 target price on shares of GitLab in a research report on Wednesday, June 3rd. Truist Financial lifted their price target on GitLab from $25.00 to $30.00 and gave the company a "hold" rating in a research report on Thursday, July 9th. Morgan Stanley boosted their price objective on GitLab from $29.00 to $30.00 and gave the stock an "equal weight" rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald upped their price objective on GitLab from $27.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday, June 3rd. Finally, Bank of America reaffirmed a "neutral" rating on shares of GitLab in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, GitLab has an average rating of "Hold" and a consensus target price of $36.58.

Insider Transactions at GitLab

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 transaction of $3,304,728.00. Following the completion of the transaction, the director directly owned 14,902,051 shares in the company, valued at $423,814,330.44. This represents a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company's stock.

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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