GitLab Inc. $GTLB Shares Purchased by Geode Capital Management LLC

Key Points

• Geode Capital Management increased its GitLab stake by 3.7% in the fourth quarter, buying 97,342 more shares and ending with 2.72 million shares worth about $102.2 million.
• GitLab reported quarterly earnings of $0.23 per share, beating estimates, while revenue rose 23.2% year over year to $264.16 million and also topped expectations.
• Despite the strong quarter, the stock remains closely watched: analysts are mixed overall with a consensus “Hold” rating and an average price target of $36.64, while insiders have also been selling shares recently.

Geode Capital Management LLC boosted its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,723,013 shares of the company's stock after buying an additional 97,342 shares during the period. Geode Capital Management LLC owned 1.62% of GitLab worth $102,216,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Malaga Cove Capital LLC increased its holdings in shares of GitLab by 8.1% during the fourth quarter. Malaga Cove Capital LLC now owns 25,121 shares of the company's stock valued at $943,000 after purchasing an additional 1,888 shares during the period. Ceera Investments LLC increased its holdings in shares of GitLab by 7.9% during the fourth quarter. Ceera Investments LLC now owns 129,656 shares of the company's stock valued at $4,866,000 after purchasing an additional 9,519 shares during the period. Churchill Financial Advisors LLC acquired a new position in shares of GitLab during the fourth quarter valued at $587,000. EverSource Wealth Advisors LLC increased its holdings in shares of GitLab by 3,280.9% during the fourth quarter. EverSource Wealth Advisors LLC now owns 6,018 shares of the company's stock valued at $226,000 after purchasing an additional 5,840 shares during the period. Finally, Evoke Wealth LLC increased its holdings in shares of GitLab by 30.2% during the fourth quarter. Evoke Wealth LLC now owns 14,076 shares of the company's stock valued at $528,000 after purchasing an additional 3,268 shares during the period. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Up 0.9%

Shares of GTLB stock opened at $31.12 on Friday. The stock has a 50-day simple moving average of $24.08 and a 200 day simple moving average of $30.15. GitLab Inc. has a fifty-two week low of $18.73 and a fifty-two week high of $52.38. The stock has a market capitalization of $5.29 billion, a P/E ratio of -194.50 and a beta of 0.96.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million during the quarter, compared to analysts' expectations of $254.23 million. During the same quarter last year, the business posted $0.17 earnings per share. The company's quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, sell-side analysts anticipate that GitLab Inc. will post -0.32 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Matthew Jacobson sold 700,109 shares of the stock in a transaction on Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares in the company, valued at $7,458.75. This trade represents a 99.95% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction on Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director owned 15,018,251 shares of the company's stock, valued at $373,203,537.35. This trade represents a 0.77% decrease in their position. 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 sold a total of 1,392,308 shares of company stock valued at $31,654,249 in the last quarter. 10.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Cantor Fitzgerald raised their price target on GitLab from $27.00 to $35.00 and gave the company a "neutral" rating in a report on Wednesday. Raymond James Financial reissued a "market perform" rating on shares of GitLab in a report on Tuesday, May 19th. BTIG Research raised their price target on GitLab from $30.00 to $36.00 and gave the company a "buy" rating in a report on Wednesday. UBS Group raised their price target on GitLab from $24.00 to $32.00 and gave the company a "neutral" rating in a report on Wednesday. Finally, Canaccord Genuity Group lowered their price target on GitLab from $70.00 to $40.00 and set a "buy" rating on the stock in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nineteen have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $36.64.

More GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: DA Davidson issued a positive forecast for GitLab, and JPMorgan raised its price target to $32, signaling some analysts still see upside from current levels. DA Davidson Issues Positive Forecast for GitLab NASDAQ: GTLB Stock Price GitLab NASDAQ: GTLB Given New $32.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Coverage highlighting GitLab’s “price recovery” says the company may be well-positioned for long-term growth as its agentic AI push gains traction, especially with customers focused on compliance and security. GitLab’s Price Recovery Gains Traction—Time to Get On Board?
• Positive Sentiment: GitLab is continuing to emphasize AI strategy and shifting monetization in its Q1 deep dive, which may support the investment case if it translates into stronger enterprise demand and better revenue growth. GTLB Q1 Deep Dive: AI Strategy, Workforce Restructuring, and Shifting Monetization Shape Outlook
• Neutral Sentiment: GitLab’s Q1 results presentation and conference transcript kept attention on execution details, but these items mainly reinforced existing investor focus rather than introducing a major new catalyst. GitLab Inc. 2027 Q1 - Results - Earnings Call Presentation GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Analyst opinions remain split, with some mixed commentary suggesting the market is still debating GitLab’s near-term valuation versus its longer-term AI opportunity. Analysts’ Opinions Are Mixed on These Technology Stocks: Gitlab (GTLB) and Nvidia (NVDA)
• Negative Sentiment: One Seeking Alpha piece argues GitLab is still not an attractive buy, reflecting ongoing concerns about valuation or execution risk. GitLab Inc.: Now Is Still Not The Time To Buy
• Negative Sentiment: GitLab cut 14% of its workforce to support its AI ambitions, a move that can improve efficiency but also signals restructuring pressure and near-term execution risk. GitLab Cuts 14% of Workforce to Fuel AI Agentic Era Ambitions

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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