GitLab Inc. $GTLB Shares Purchased by Coronation Fund Managers Ltd.

Key Points

• Coronation Fund Managers Ltd. raised its GitLab position by 18.3% in Q4 to 717,483 shares (about $26.9M), making GitLab roughly 1.2% of the fund's portfolio and its 23rd-largest holding.
• Company insiders sold 1,330,408 shares worth about $30.3M over the last quarter — including Director Matthew Jacobson's 459,799-share sale (~$10.29M) and Sytse Sijbrandij's 116,200-share sale (~$2.41M) — though insiders still own 16.37% of the company.
• Analysts have trimmed ratings and price targets, leaving a consensus rating of Hold with a $37.35 average target, even as GitLab's latest quarter beat EPS and revenue estimates with revenue up 23.2% year-over-year.

Coronation Fund Managers Ltd. increased its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 18.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 717,483 shares of the company's stock after acquiring an additional 110,926 shares during the quarter. GitLab makes up about 1.2% of Coronation Fund Managers Ltd.'s portfolio, making the stock its 23rd biggest holding. Coronation Fund Managers Ltd. owned approximately 0.43% of GitLab worth $26,927,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. lifted its position in GitLab by 3.6% in the third quarter. Blue Trust Inc. now owns 8,770 shares of the company's stock valued at $395,000 after buying an additional 302 shares during the last quarter. Allworth Financial LP lifted its position in GitLab by 124.1% in 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 during the last quarter. Jones Financial Companies Lllp lifted its position in GitLab by 20.1% in the third quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company's stock valued at $102,000 after buying an additional 358 shares during the last quarter. Prostatis Group LLC lifted its position in GitLab by 6.5% in the third quarter. Prostatis Group LLC now owns 6,051 shares of the company's stock valued at $273,000 after buying an additional 368 shares during the last quarter. Finally, Truist Financial Corp lifted its position in GitLab by 1.6% in the third quarter. Truist Financial Corp now owns 24,473 shares of the company's stock valued at $1,103,000 after buying an additional 389 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on GTLB. TD Cowen cut shares of GitLab from a "buy" rating to a "hold" rating and set a $29.00 target price on the stock. in a research report on Monday, March 2nd. Sanford C. Bernstein decreased their target price on shares of GitLab from $70.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, March 4th. Mizuho decreased their target price on shares of GitLab from $37.00 to $30.00 and set a "neutral" rating on the stock in a research report on Wednesday, March 4th. DA Davidson set a $24.00 target price on shares of GitLab in a research report on Thursday, March 5th. Finally, Royal Bank Of Canada lowered shares of GitLab from an "outperform" rating to a "sector perform" rating and cut their price target for the stock from $33.00 to $25.00 in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, seventeen have issued a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $37.35.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 459,799 shares of the business's stock in a transaction dated 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 SEC, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,330,408 shares of company stock worth $30,309,342 over the last quarter. Insiders own 16.37% of the company's stock.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $21.51 on Friday. The firm has a market capitalization of $3.66 billion, a PE ratio of -61.46 and a beta of 0.85. The firm's 50-day moving average is $23.27 and its two-hundred day moving average is $34.26. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $54.08.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.73%. The business's revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.33 earnings per share. Analysts expect that GitLab Inc. will post -0.28 EPS for the current fiscal year.

About GitLab

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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