Kerrisdale Advisers LLC Sells 29,565 Shares of GitLab Inc. $GTLB

Key Points

• Kerrisdale Advisers cut its GitLab stake by 42.9% in the second quarter, selling 29,565 shares and retaining 39,415 shares valued at approximately $1.2 million.
• Analysts have raised several price targets, but the consensus remains a “Hold” rating with a target price of $40.54. GitLab reported quarterly EPS of $0.23, topping estimates, while revenue rose 23.2% year over year to $264.16 million.
• GitLab shares opened at $44.87, compared with a 52-week range of $18.73 to $52.38. Institutional investors own 95.04% of the stock, while company insiders own 10.64%.

Kerrisdale Advisers LLC decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 42.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 39,415 shares of the company's stock after selling 29,565 shares during the quarter. Kerrisdale Advisers LLC's holdings in GitLab were worth $1,203,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP increased its holdings in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company's stock valued at $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP acquired a new stake in shares of GitLab in the 3rd quarter valued at approximately $31,000. Fifth Third Bancorp boosted its stake in GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company's stock worth $35,000 after acquiring an additional 1,103 shares during the last quarter. Larson Financial Group LLC grew its holdings in GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock valued at $45,000 after purchasing an additional 481 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in GitLab in the third quarter worth $48,000. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Needham & Company LLC boosted their target price on GitLab from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, June 3rd. Truist Financial increased their target price on GitLab from $30.00 to $40.00 and gave the stock a "hold" rating in a research note on Thursday, August 20th. Mizuho lifted their price target on shares of GitLab from $28.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, August 19th. Cantor Fitzgerald raised their price objective on shares of GitLab from $27.00 to $35.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Finally, Morgan Stanley lifted their price target on GitLab from $29.00 to $30.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $40.54.

GitLab Stock Performance

GTLB opened at $44.87 on Monday. The business's 50-day simple moving average is $35.29 and its 200 day simple moving average is $28.62. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $52.38. The firm has a market capitalization of $7.58 billion, a PE ratio of -280.44 and a beta of 0.94.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business's quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, research analysts forecast that GitLab Inc. will post -0.18 earnings per share for the current year.

Insider Transactions at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the sale, the director owned 14,902,051 shares in the company, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the business's stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $38.00, for a total value of $331,550.00. Following the transaction, the chief accounting officer directly owned 105,332 shares in the company, valued at $4,002,616. The trade was a 7.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company's stock.

GitLab Profile

GitLab Inc NASDAQ: GTLB is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.

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