Jump Financial LLC Invests $10.50 Million in GitLab Inc. $GTLB

Key Points

• Jump Financial LLC acquired 223,353 shares of GitLab Inc. valued at approximately $10.5 million during the 1st quarter, representing about 0.14% of the company.
• Several hedge funds significantly increased their stakes in GitLab, with 1832 Asset Management growing holdings by over 2,400%, now owning about $107.9 million worth of shares.
• GitLab reported stronger-than-expected quarterly earnings with $0.17 EPS, surpassing analysts' estimates, while the stock has a consensus rating of "Moderate Buy" with an average price target of $62.83.

Jump Financial LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 223,353 shares of the company's stock, valued at approximately $10,498,000. Jump Financial LLC owned 0.14% of GitLab at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in GTLB. 1832 Asset Management L.P. lifted its position in shares of GitLab by 2,456.8% during 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 acquiring an additional 2,205,238 shares during the period. Ameriprise Financial Inc. grew its stake in GitLab by 276.9% in the fourth quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after acquiring an additional 1,583,221 shares during the period. ARK Investment Management LLC increased its holdings in shares of GitLab by 109.1% during the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after acquiring an additional 1,265,830 shares in the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of GitLab by 175.1% during the first quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock worth $65,529,000 after purchasing an additional 888,900 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of GitLab by 161.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,067 shares of the company's stock worth $62,325,000 after purchasing an additional 818,354 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Up 8.0%

Shares of GTLB stock traded up $3.49 during trading hours on Wednesday, hitting $47.26. 4,703,205 shares of the company were exchanged, compared to its average volume of 3,538,551. The firm has a fifty day simple moving average of $44.18 and a 200 day simple moving average of $48.44. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 472.60 and a beta of 0.73.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping 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 company had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same quarter last year, the business posted $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. Sell-side analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at GitLab

In related news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred 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 transaction, the director directly owned 103,889 shares in the company, valued at approximately $4,675,005. The trade was a 3.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Monday, August 18th. The shares were 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. Insiders have sold a total of 464,950 shares of company stock valued at $20,025,356 over the last three months. 21.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GTLB has been the topic of several research reports. Rosenblatt Securities started coverage on shares of GitLab in a report on Tuesday, July 15th. They set a "buy" rating and a $58.00 price objective on the stock. BTIG Research lowered their target price on shares of GitLab from $86.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, June 11th. Royal Bank Of Canada restated an "outperform" rating and issued a $62.00 target price on shares of GitLab in a report on Wednesday, June 25th. Barclays decreased their price objective on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. Finally, Wells Fargo & Company cut their target price on GitLab from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Twenty analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, GitLab has an average rating of "Moderate Buy" and an average price target 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.