GitLab Inc. $GTLB Shares Sold by Royal Fund Management LLC

Royal Fund Management LLC lessened its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 47.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,300 shares of the company's stock after selling 38,306 shares during the period. Royal Fund Management LLC's holdings in GitLab were worth $915,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC raised its position in shares of GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock valued at $203,915,000 after acquiring an additional 4,806,163 shares in the last quarter. Atreides Management LP boosted its holdings in GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock worth $177,652,000 after purchasing an additional 3,531,070 shares during the period. SG Americas Securities LLC boosted its holdings in GitLab by 6,528.0% in the first quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company's stock worth $67,850,000 after purchasing an additional 3,088,089 shares during the period. Norges Bank bought a new stake in GitLab during the fourth quarter valued at $81,379,000. Finally, Technology Crossover Management X Ltd. increased its stake in GitLab by 491.4% during the fourth quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company's stock valued at $72,137,000 after purchasing an additional 1,597,114 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the firm'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 value of $3,304,728.00. Following the sale, the director directly owned 14,902,051 shares in the company, valued at $423,814,330.44. This trade represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GTLB shares. Zacks Research upgraded shares of GitLab from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, June 9th. Royal Bank Of Canada boosted their price objective on shares of GitLab from $25.00 to $29.00 and gave the company a "sector perform" rating in a research report on Wednesday, June 3rd. Truist Financial increased their price objective on shares of GitLab from $25.00 to $30.00 and gave the stock a "hold" rating in a research note on Thursday, July 9th. Bank of America reissued a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. Finally, Rosenblatt Securities reaffirmed a "buy" rating and set a $43.00 target price on shares of GitLab in a report on Monday, June 1st. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $36.58.

GitLab Stock Down 0.9%

Shares of NASDAQ:GTLB opened at $33.72 on Friday. The company has a market cap of $5.70 billion, a PE ratio of -210.75 and a beta of 0.96. The company's 50-day moving average price is $30.41 and its 200 day moving average price is $27.77. 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 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm had revenue of $264.16 million during the quarter, compared to analysts' expectations of $254.23 million. During the same quarter in the prior year, the firm earned $0.17 EPS. GitLab'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. As a group, equities analysts anticipate that GitLab Inc. will post -0.18 EPS for the current year.

GitLab 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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