Malaga Cove Capital LLC raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 79.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 16,971 shares of the company's stock after acquiring an additional 7,505 shares during the period. Malaga Cove Capital LLC's holdings in GitLab were worth $798,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. OneDigital Investment Advisors LLC raised its holdings in GitLab by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock worth $228,000 after purchasing an additional 166 shares in the last quarter. Utah Retirement Systems raised its stake in shares of GitLab by 3.1% during the 4th quarter. Utah Retirement Systems now owns 6,600 shares of the company's stock worth $372,000 after buying an additional 200 shares in the last quarter. Mariner LLC raised its stake in shares of GitLab by 1.7% during the 4th quarter. Mariner LLC now owns 12,583 shares of the company's stock worth $709,000 after buying an additional 214 shares in the last quarter. True Wealth Design LLC lifted its holdings in shares of GitLab by 20.0% in the 4th quarter. True Wealth Design LLC now owns 1,297 shares of the company's stock valued at $73,000 after buying an additional 216 shares during the period. Finally, Graham Capital Management L.P. boosted its stake in shares of GitLab by 0.8% in the fourth quarter. Graham Capital Management L.P. now owns 30,806 shares of the company's stock valued at $1,736,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.
GitLab Price Performance
GitLab stock opened at $41.82 on Friday. The stock has a market capitalization of $6.91 billion, a P/E ratio of 418.20 and a beta of 0.74. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The firm's 50-day moving average is $45.06 and its two-hundred day moving average is $51.48.
GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. GitLab's revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.03 earnings per share. As a group, analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.
Insiders Place Their Bets
In related news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $43.33, for a total value of $4,705,638.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director owned 107,139 shares in the company, valued at $4,821,255. This trade represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 509,950 shares of company stock worth $23,288,223 in the last three months. Company insiders own 16.37% of the company's stock.
Analyst Upgrades and Downgrades
GTLB has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Rosenblatt Securities assumed coverage on shares of GitLab in a research note on Tuesday, July 15th. They set a "buy" rating and a $58.00 price target on the stock. The Goldman Sachs Group reiterated a "neutral" rating and issued a $50.00 price objective on shares of GitLab in a research note on Tuesday, June 24th. Mizuho lowered their target price on shares of GitLab from $72.00 to $60.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 11th. Finally, Piper Sandler reiterated an "overweight" rating and set a $85.00 price target on shares of GitLab in a research report on Wednesday, June 11th. Five research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, GitLab presently has an average rating of "Moderate Buy" and a consensus target price of $62.63.
View Our Latest Stock Analysis on GTLB
GitLab Profile
(
Free Report)
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.
Featured Stories
Want to see what other hedge funds are holding GTLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GitLab Inc. (NASDAQ:GTLB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider GitLab, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GitLab wasn't on the list.
While GitLab currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Discover the 10 Best High-Yield Dividend Stocks for 2025 and secure reliable income in uncertain markets. Download the report now to identify top dividend payers and avoid common yield traps.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.