Ieq Capital LLC Sells 28,722 Shares of GitLab Inc. $GTLB

Key Points

• Ieq Capital LLC has reduced its stake in GitLab Inc. by 21.7%, now owning approximately 0.06% of the company, worth nearly $4.87 million.
• Insider transactions revealed that several directors sold large quantities of shares recently, with a total of 464,950 shares sold worth around $20 million in the last three months.
• Analysts have adjusted their price targets for GitLab, with new estimates ranging from $55.00 to $67.00, though the consensus rating remains a "Moderate Buy".

Ieq Capital LLC lessened its holdings in GitLab Inc. (NASDAQ:GTLB - Free Report) by 21.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 103,528 shares of the company's stock after selling 28,722 shares during the quarter. Ieq Capital LLC owned 0.06% of GitLab worth $4,866,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in GTLB. Cullen Frost Bankers Inc. raised its position in GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock worth $25,000 after purchasing an additional 334 shares during the period. Cloud Capital Management LLC bought a new stake in shares of GitLab during the 1st quarter valued at about $29,000. CoreCap Advisors LLC boosted its stake in shares of GitLab by 327.5% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after purchasing an additional 452 shares in the last quarter. Harbour Investments Inc. boosted its stake in GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company's stock worth $42,000 after acquiring an additional 734 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after acquiring an additional 490 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

GitLab Stock Down 0.7%

GitLab stock traded down $0.33 during mid-day trading on Tuesday, reaching $47.69. 5,801,145 shares of the company's stock traded hands, compared to its average volume of 3,574,447. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The company has a market cap of $7.88 billion, a price-to-earnings ratio of 476.90 and a beta of 0.74. The stock has a 50 day moving average of $44.61 and a two-hundred day moving average of $47.70.

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, beating the consensus estimate of $0.15 by $0.02. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The business had revenue of $214.51 million for the quarter, compared to the consensus estimate of $213.21 million. During the same quarter in the prior year, the firm posted $0.03 earnings per share. The business's revenue for the quarter was up 26.8% on a year-over-year basis. 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, sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Activity

In related news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction dated 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 owned 103,889 shares of the company's stock, valued at $4,675,005. This trade represents a 3.03% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 464,950 shares of company stock valued at $20,025,356. 21.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on GTLB. DA Davidson raised shares of GitLab to a "hold" rating in a report on Monday, August 25th. Cowen reiterated a "buy" rating on shares of GitLab in a research report on Friday, June 6th. Piper Sandler reiterated an "overweight" rating and issued a $85.00 price target on shares of GitLab in a research report on Wednesday, June 11th. Capital One Financial lowered shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target for the company. in a research report on Wednesday, July 16th. Finally, JPMorgan Chase & Co. dropped their price target on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research report on Wednesday, June 11th. Twenty equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, GitLab presently has an average rating of "Moderate Buy" and an average target price of $62.83.

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.