Invesco Ltd. Has $75.37 Million Stake in GitLab Inc. $GTLB

Key Points

• Invesco Ltd. has increased its stake in GitLab Inc. by 22.0%, owning approximately 1,603,520 shares valued at $75.37 million as of its latest SEC filing.
• Hedge funds and institutional investors hold 95.04% of GitLab's stock, indicating a strong institutional interest in the company.
• Wall Street analysts have issued mixed ratings for GitLab, with an average target price of $62.63 and the overall consensus rating set as a "Moderate Buy."

Invesco Ltd. boosted its position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 22.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,603,520 shares of the company's stock after purchasing an additional 289,683 shares during the period. Invesco Ltd. owned 0.99% of GitLab worth $75,365,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GTLB. Ameriprise Financial Inc. grew its position in 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 purchasing an additional 1,583,221 shares in the last quarter. ARK Investment Management LLC grew its position in GitLab by 109.1% during the 1st quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock worth $114,038,000 after purchasing an additional 1,265,830 shares in the last quarter. Nikko Asset Management Americas Inc. grew its holdings in shares of GitLab by 175.1% during 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 acquiring an additional 888,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew 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 valued at $62,325,000 after acquiring an additional 818,354 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in shares of GitLab by 78.1% during the 4th quarter. Bank of America Corp DE now owns 1,423,487 shares of the company's stock valued at $80,213,000 after acquiring an additional 624,235 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GTLB has been the topic of several research analyst reports. Capital One Financial cut shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 price target on the stock. in a report on Wednesday, July 16th. Raymond James Financial lowered their price target on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Barclays lowered their price target on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a report on Wednesday, June 11th. Macquarie restated an "outperform" rating and set a $75.00 price target on shares of GitLab in a report on Wednesday, June 25th. Finally, Rosenblatt Securities initiated coverage on shares of GitLab in a report on Tuesday, July 15th. They set a "buy" rating and a $58.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $62.63.

GitLab Price Performance

Shares of GTLB stock traded up $0.48 on Thursday, hitting $44.18. The company's stock had a trading volume of 2,773,291 shares, compared to its average volume of 4,153,832. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The firm's fifty day moving average price is $43.89 and its 200-day moving average price is $49.17. The stock has a market capitalization of $7.30 billion, a price-to-earnings ratio of 441.80 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data 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. 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 during the quarter, compared to analyst estimates of $213.21 million. During the same quarter in the previous year, the business earned $0.03 EPS. GitLab's quarterly revenue was up 26.8% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Insider Activity at GitLab

In related news, Director Karen Blasing sold 3,250 shares of GitLab 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 completion of the sale, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. The trade was a 3.03% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on 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. In the last 90 days, insiders sold 464,950 shares of company stock valued at $20,025,356. Insiders own 16.37% of the company's stock.

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.