GitLab Inc. $GTLB Stock Position Raised by Amundi

Amundi raised its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 45.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 894,156 shares of the company's stock after purchasing an additional 277,350 shares during the period. Amundi owned 0.55% of GitLab worth $42,025,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in shares of GitLab by 9,968.3% during the 1st quarter. GAMMA Investing LLC now owns 43,193 shares of the company's stock worth $2,030,000 after purchasing an additional 42,764 shares in the last quarter. Park Avenue Securities LLC raised its stake in shares of GitLab by 5.3% during the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company's stock worth $357,000 after purchasing an additional 381 shares in the last quarter. Wealthcare Advisory Partners LLC raised its stake in shares of GitLab by 19.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,578 shares of the company's stock worth $309,000 after purchasing an additional 1,065 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new stake in shares of GitLab during the 1st quarter worth about $200,000. Finally, Cetera Investment Advisers raised its stake in shares of GitLab by 43.4% during the 1st quarter. Cetera Investment Advisers now owns 55,636 shares of the company's stock worth $2,615,000 after purchasing an additional 16,849 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the transaction, the director directly owned 103,889 shares in the company, valued at approximately $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 464,950 shares of company stock valued at $20,025,356 in the last three months. Company insiders own 21.36% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GTLB shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $50.00 price target on shares of GitLab in a research note on Tuesday, June 24th. KeyCorp cut their price objective on GitLab from $60.00 to $53.00 and set an "overweight" rating on the stock in a research note on Thursday. Canaccord Genuity Group cut their price objective on GitLab from $76.00 to $70.00 and set a "buy" rating on the stock in a research note on Thursday. Truist Financial cut their price objective on GitLab from $75.00 to $55.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Macquarie reissued an "outperform" rating and issued a $75.00 price objective on shares of GitLab in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $58.39.

GitLab Stock Up 5.2%

Shares of NASDAQ GTLB opened at $45.73 on Monday. The business's 50 day moving average is $44.79 and its two-hundred day moving average is $47.05. The company has a market cap of $7.55 billion, a P/E ratio of -1,143.25 and a beta of 0.74. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $214.51 million for the quarter, compared to the consensus estimate of $213.21 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.03 EPS. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Sell-side analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.

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