Harel Insurance Investments & Financial Services Ltd. Sells 39,854 Shares of GitLab Inc. $GTLB

Key Points

• Harel Insurance Investments & Financial Services cut its GitLab stake by 70.7% in the first quarter, selling 39,854 shares and leaving it with 16,496 shares valued at about $357,000.
• GitLab’s stock is heavily institutionally owned, with about 95.04% of shares held by institutional investors and 10.64% held by insiders. Recent insider activity also included Director Sytse Sijbrandij selling 116,200 shares in a pre-arranged trade.
• GitLab beat earnings expectations in its latest quarter, reporting $0.23 EPS on revenue of $264.16 million, with sales up 23.2% year over year. Despite that, analysts currently have a Hold consensus with an average price target of $36.58.

Harel Insurance Investments & Financial Services Ltd. trimmed its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 70.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,496 shares of the company's stock after selling 39,854 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.'s holdings in GitLab were worth $357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GTLB. Eminence Capital LP boosted its position in GitLab by 6.9% during the 4th quarter. Eminence Capital LP now owns 7,702,226 shares of the company's stock valued at $289,065,000 after buying an additional 494,497 shares during the period. AQR Capital Management LLC raised its stake in shares of GitLab by 766.3% during the fourth 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 during the last quarter. Atreides Management LP boosted its holdings in shares of GitLab by 867.3% during 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 grew its stake in shares of 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 last quarter. Finally, Geode Capital Management LLC grew its stake in shares of GitLab by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company's stock worth $102,216,000 after purchasing an additional 97,342 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the sale, the director owned 14,902,051 shares of the company's stock, valued at $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on GTLB shares. Mizuho increased their price objective on GitLab from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Guggenheim restated a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. BTIG Research reaffirmed a "buy" rating and issued a $36.00 price target on shares of GitLab in a research note on Thursday, June 11th. TD Cowen reissued a "hold" rating and set a $29.00 price objective on shares of GitLab in a research report on Wednesday, June 3rd. Finally, UBS Group upped their price objective on shares of GitLab from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, July 10th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $36.58.

GitLab Stock Down 3.3%

Shares of GTLB stock opened at $31.75 on Friday. The business's fifty day moving average is $28.80 and its 200 day moving average is $28.08. The stock has a market cap of $5.36 billion, a price-to-earnings ratio of -198.44 and a beta of 0.96. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $52.38.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same quarter last year, the firm posted $0.17 earnings per share. The company's revenue for the quarter was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Equities research analysts expect that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.

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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