Hidden Lake Asset Management LP Acquires New Position in GitLab Inc. $GTLB

Key Points

• Hidden Lake Asset Management acquired 83,468 shares of GitLab (~$3.76 million) in Q3, representing about 0.05% of the company and making GitLab its 28th-largest holding.
• GitLab beat the quarter's EPS estimate ($0.30 vs. $0.23) and revenue grew 23.2% to $260.4 million, but the company remains unprofitable with negative net margin and analysts expect a negative full-year EPS.
• Insiders sold heavily over the last quarter—449,444 shares worth roughly $16.48 million—though insiders still own about 21.36% of the company.

Hidden Lake Asset Management LP acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 83,468 shares of the company's stock, valued at approximately $3,763,000. GitLab makes up about 0.5% of Hidden Lake Asset Management LP's holdings, making the stock its 28th biggest holding. Hidden Lake Asset Management LP owned about 0.05% of GitLab at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Farther Finance Advisors LLC raised its position in shares of GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company's stock valued at $41,000 after acquiring an additional 671 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company's stock worth $44,000 after purchasing an additional 445 shares during the period. Manchester Capital Management LLC acquired a new stake in shares of GitLab during the second quarter worth $48,000. Elevation Point Wealth Partners LLC bought a new position in shares of GitLab in the 2nd quarter worth about $63,000. Finally, Clearstead Advisors LLC boosted its holdings in shares of GitLab by 35.2% in the 3rd quarter. Clearstead Advisors LLC now owns 1,747 shares of the company's stock valued at $79,000 after buying an additional 455 shares during the period. Institutional investors own 95.04% of the company's stock.

GitLab Trading Down 0.6%

GTLB opened at $22.69 on Monday. The business's 50 day moving average is $30.97 and its 200-day moving average is $39.63. The stock has a market cap of $3.82 billion, a PE ratio of -64.83 and a beta of 0.79. GitLab Inc. has a twelve month low of $22.40 and a twelve month high of $54.08.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GTLB shares. BTIG Research dropped their price objective on shares of GitLab from $32.00 to $30.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Cantor Fitzgerald restated a "neutral" rating on shares of GitLab in a research note on Wednesday, March 4th. JPMorgan Chase & Co. upped their target price on GitLab from $52.00 to $53.00 and gave the company a "neutral" rating in a report on Wednesday, December 3rd. Bank of America dropped their price target on GitLab from $72.00 to $58.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of GitLab in a report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $39.62.

Insiders Place Their Bets

In other news, Director Sytse Sijbrandij sold 54,300 shares of the stock in a transaction on Tuesday, February 17th. The stock was sold at an average price of $28.41, for a total value of $1,542,663.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Jacobson sold 334,827 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $38.08, for a total transaction of $12,750,212.16. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 449,444 shares of company stock worth $16,475,510. Insiders own 21.36% of the company's stock.

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.