HMI Capital Management L.P. Cuts Stock Position in GitLab Inc. $GTLB

Key Points

• HMI Capital Management L.P. has reduced its stake in GitLab Inc. by 0.8%, currently owning approximately 4.43 million shares, which accounts for 11.3% of its portfolio.
• In its recent quarterly earnings report, GitLab beat earnings estimates with $0.17 EPS, surpassing expectations of $0.15, and reported a revenue of $214.51 million—up 26.8% year-over-year.
• GitLab's stock has received a consensus rating of "Moderate Buy" from analysts, with a consensus price target of $59.30, reflecting mixed assessments from various research firms.

HMI Capital Management L.P. lowered its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 0.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,428,475 shares of the company's stock after selling 37,640 shares during the quarter. GitLab comprises about 11.3% of HMI Capital Management L.P.'s investment portfolio, making the stock its 5th largest position. HMI Capital Management L.P. owned 2.73% of GitLab worth $208,138,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in GitLab by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock worth $631,936,000 after purchasing an additional 302,864 shares in the last quarter. Eminence Capital LP increased its stake in shares of GitLab by 13.6% in the 1st quarter. Eminence Capital LP now owns 2,498,201 shares of the company's stock valued at $117,415,000 after buying an additional 299,191 shares during the period. Ameriprise Financial Inc. increased its stake in shares of GitLab by 15.4% in the 1st quarter. Ameriprise Financial Inc. now owns 2,487,608 shares of the company's stock valued at $116,919,000 after buying an additional 332,592 shares during the period. ARK Investment Management LLC increased its stake in shares of GitLab by 109.1% in the 1st quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after buying an additional 1,265,830 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in shares of GitLab by 2,456.8% in the 1st quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock valued at $107,865,000 after buying an additional 2,205,238 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Trading Up 5.2%

Shares of NASDAQ:GTLB traded up $2.27 during trading on Friday, hitting $45.73. 7,975,383 shares of the company's stock traded hands, compared to its average volume of 5,623,291. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The company has a market cap of $7.55 billion, a price-to-earnings ratio of -1,143.25 and a beta of 0.75. The company has a 50-day moving average price of $44.79 and a 200-day moving average price of $47.19.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. The firm had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.80%. The company's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior 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. On average, analysts predict that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.44, for a total value of $4,500,384.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 129,400 shares of the company'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 transaction, the director directly owned 551,997 shares of the company's stock, valued at approximately $23,360,513.04. The trade was a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 464,950 shares of company stock valued at $20,025,356. Company insiders own 16.37% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on GTLB shares. Truist Financial lowered their price objective on GitLab from $75.00 to $55.00 and set a "buy" rating for the company in a research report on Thursday. Wells Fargo & Company lowered their price objective on GitLab from $60.00 to $55.00 and set an "overweight" rating for the company in a research report on Thursday. Capital One Financial lowered GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price objective for the company. in a research report on Wednesday, July 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $62.00 price objective on shares of GitLab in a research report on Wednesday, June 25th. Finally, Piper Sandler cut their price target on GitLab from $85.00 to $70.00 and set an "overweight" rating on the stock in a research note on Thursday. Nineteen investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, GitLab currently has an average rating of "Moderate Buy" and an average price target of $58.39.

GitLab Profile

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.