Greenhouse Funds LLLP Buys 159,077 Shares of GitLab Inc. $GTLB

Key Points

• Greenhouse Funds LLLP increased its stake in GitLab by 22.1%, acquiring an additional 159,077 shares in the first quarter, bringing its total to 877,926 shares.
• Insider sales for GitLab included significant transactions by directors, with one director selling 129,400 shares valued at over $5.4 million, indicating a potential shift in insider sentiment.
• GitLab reported $0.17 EPS for its last quarter, exceeding expectations, and had a 26.8% revenue increase year-over-year, underscoring its growth potential.

Greenhouse Funds LLLP increased its stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 22.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 877,926 shares of the company's stock after acquiring an additional 159,077 shares during the quarter. GitLab comprises approximately 1.9% of Greenhouse Funds LLLP's holdings, making the stock its 25th largest holding. Greenhouse Funds LLLP owned 0.54% of GitLab worth $41,263,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its holdings in GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after buying an additional 334 shares during the period. CoreCap Advisors LLC increased its holdings in GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after buying an additional 452 shares during the period. Twin Tree Management LP bought a new stake in GitLab in the 1st quarter valued at $29,000. Cloud Capital Management LLC bought a new stake in GitLab in the 1st quarter valued at $29,000. Finally, Harbour Investments Inc. grew its holdings in shares of GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company's stock worth $42,000 after purchasing an additional 734 shares during the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Buying and Selling at GitLab

In other GitLab news, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the completion of the sale, the director owned 551,997 shares of the company's stock, valued at $23,360,513.04. This trade represents a 18.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The disclosure for this sale can be found here. Insiders sold 464,950 shares of company stock valued at $20,025,356 in the last quarter. 21.36% of the stock is currently owned by insiders.

GitLab Stock Performance

Shares of GTLB stock opened at $46.91 on Thursday. The company has a market capitalization of $7.75 billion, a P/E ratio of 469.10 and a beta of 0.75. The company's 50 day moving average price is $44.79 and its two-hundred day moving average price is $47.70. GitLab Inc. has a 52 week low of $37.90 and a 52 week 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 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The company had revenue of $214.51 million during the quarter, compared to analysts' expectations of $213.21 million. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business's quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the business earned $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. Analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Capital One Financial lowered shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a report on Wednesday, July 16th. Barclays lowered their target price on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Raymond James Financial reduced their price target on shares of GitLab from $60.00 to $55.00 and set an "outperform" rating on the stock in a research report on Thursday. Macquarie reiterated an "outperform" rating and set a $75.00 price target on shares of GitLab in a research report on Wednesday, June 25th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $60.00 price target on shares of GitLab in a research report on Thursday. Nineteen research 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 an average rating of "Moderate Buy" and an average target price of $59.09.

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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