Hsbc Holdings PLC Has $780,000 Stake in GitLab Inc. $GTLB

Key Points

• Hsbc Holdings PLC increased its stake in GitLab Inc. by 131.1% during the first quarter, holding a total of 16,863 shares valued at approximately $780,000.
• Several institutional investors have significantly boosted their positions in GitLab, contributing to 95.04% institutional ownership of the company's stock.
• GitLab reported a 26.8% year-over-year revenue growth for the last quarter, achieving earnings per share of $0.17, surpassing analyst expectations.

Hsbc Holdings PLC raised its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 131.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,863 shares of the company's stock after acquiring an additional 9,567 shares during the period. Hsbc Holdings PLC's holdings in GitLab were worth $780,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of GTLB. Ameriprise Financial Inc. boosted its position in shares of GitLab by 276.9% during the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock worth $121,435,000 after acquiring an additional 1,583,221 shares in the last quarter. ARK Investment Management LLC boosted its holdings 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 purchasing an additional 1,265,830 shares in the last quarter. Nikko Asset Management Americas Inc. increased its stake in shares of GitLab by 175.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock valued at $65,529,000 after purchasing an additional 888,900 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of GitLab by 161.2% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,067 shares of the company's stock worth $62,325,000 after buying an additional 818,354 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of GitLab by 1,901.4% during the 1st quarter. American Century Companies Inc. now owns 775,225 shares of the company's stock worth $36,436,000 after buying an additional 736,491 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 129,400 shares of the stock in a transaction dated Wednesday, June 25th. The shares were 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 owned 551,997 shares in the company, valued at approximately $23,360,513.04. This represents a 18.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction on Monday, August 18th. The shares were sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director directly owned 103,889 shares in the company, valued at $4,675,005. This represents a 3.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock valued at $20,025,356 over the last three months. Corporate insiders own 16.37% of the company's stock.

GitLab Trading Down 2.1%

NASDAQ GTLB opened at $48.02 on Friday. The firm has a market capitalization of $7.93 billion, a PE ratio of 480.20 and a beta of 0.73. The business's 50-day moving average price is $44.46 and its two-hundred day moving average price is $48.00. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.02. The business 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 for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.03 earnings per share. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. As a group, analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. DA Davidson upgraded shares of GitLab to a "hold" rating in a research report on Monday, August 25th. JPMorgan Chase & Co. decreased their target price on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Rosenblatt Securities began coverage on GitLab in a report on Tuesday, July 15th. They set a "buy" rating and a $58.00 price objective on the stock. BTIG Research reduced their price objective on GitLab from $86.00 to $67.00 and set a "buy" rating on the stock in a research report on Wednesday, June 11th. Finally, Canaccord Genuity Group lowered their target price on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a report on Thursday, June 12th. Twenty research 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's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $62.83.

GitLab Company 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.

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