GitLab Inc. $GTLB Stock Position Raised by Atreides Management LP

Key Points

• Atreides Management LP increased its stake in GitLab by 38.9% in Q3 to 5,470,305 shares (about 3.28% of GitLab), making the stock its second-largest position valued at roughly $246.6 million.
• GitLab beat estimates in its most recent quarter (EPS $0.30 vs. $0.23 expected; revenue $260.4M, +23.2% YoY) but remains unprofitable (negative net margin of -5.86% and negative ROE), and analysts hold a consensus "Hold" rating with a $39.62 target after several recent price cuts.
• Insiders have been net sellers (503,744 shares sold over the past 90 days) though they still own 16.37% of the company and institutional ownership is about 95%.

Atreides Management LP grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 38.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,470,305 shares of the company's stock after purchasing an additional 1,532,107 shares during the period. GitLab makes up about 4.8% of Atreides Management LP's holdings, making the stock its 2nd biggest position. Atreides Management LP owned approximately 3.28% of GitLab worth $246,601,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of GTLB. Bamco Inc. NY boosted its stake in shares of GitLab by 15.3% in the third quarter. Bamco Inc. NY now owns 1,598,057 shares of the company's stock valued at $72,040,000 after buying an additional 211,604 shares in the last quarter. California Public Employees Retirement System grew its holdings in GitLab by 1.3% during the third quarter. California Public Employees Retirement System now owns 170,122 shares of the company's stock worth $7,669,000 after acquiring an additional 2,252 shares during the period. Cantor Fitzgerald L. P. raised its position in GitLab by 280.0% in the third quarter. Cantor Fitzgerald L. P. now owns 69,000 shares of the company's stock worth $3,111,000 after acquiring an additional 50,840 shares in the last quarter. Algert Global LLC raised its position in GitLab by 1,135.2% in the third quarter. Algert Global LLC now owns 62,870 shares of the company's stock worth $2,834,000 after acquiring an additional 57,780 shares in the last quarter. Finally, Creative Planning lifted its holdings in GitLab by 24.3% in the third quarter. Creative Planning now owns 8,956 shares of the company's stock valued at $404,000 after acquiring an additional 1,749 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $22.69 on Friday. The company has a 50-day simple moving average of $30.97 and a 200-day simple moving average of $39.68. The company has a market cap of $3.82 billion, a PE ratio of -64.83 and a beta of 0.79. GitLab Inc. has a 12 month low of $22.40 and a 12 month high of $54.08.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. The business had revenue of $260.40 million for the quarter, compared to the consensus estimate of $252.31 million. During the same quarter in the prior year, the firm posted $0.33 earnings per share. The company's quarterly revenue was up 23.2% compared to the same quarter last year. On average, analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other news, Director Sytse Sijbrandij sold 54,300 shares of GitLab stock in a transaction on Monday, December 15th. The stock was sold at an average price of $38.95, for a total value of $2,114,985.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Simon Mundy sold 2,756 shares of the company's stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the transaction, the chief accounting officer owned 47,184 shares of the company's stock, valued at $1,812,809.28. The trade was a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 503,744 shares of company stock valued at $18,590,495. Insiders own 16.37% of the company's stock.

Analyst Ratings Changes

GTLB has been the topic of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on shares of GitLab from $40.00 to $33.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 4th. BTIG Research reduced their price objective on shares of GitLab from $32.00 to $30.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Weiss Ratings reissued a "sell (d-)" rating on shares of GitLab in a report on Monday, December 22nd. UBS Group lowered their target price on shares of GitLab from $51.00 to $44.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, The Goldman Sachs Group dropped their target price on shares of GitLab from $48.00 to $42.00 and set a "neutral" rating for the company in a report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $39.62.

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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