Legal & General Group Plc Sells 53,030 Shares of GitLab Inc. $GTLB

Key Points

• Legal & General Group Plc cut its GitLab stake by 26.8% in the fourth quarter, selling 53,030 shares and leaving it with 145,068 shares worth about $5.44 million.
• Several other institutional investors have been active in GTLB, and institutional ownership remains high at 95.04%, indicating the stock is still widely held by large funds.
• GitLab’s latest earnings beat expectations, with EPS of $0.23 versus $0.20 expected and revenue of $264.16 million, up 23.2% year over year; however, analysts still mostly rate the stock Hold with an average price target of $36.64.

Legal & General Group Plc decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 26.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 145,068 shares of the company's stock after selling 53,030 shares during the period. Legal & General Group Plc owned about 0.09% of GitLab worth $5,444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of GTLB. Atreides Management LP grew its position in shares of GitLab by 867.3% during the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock valued at $177,652,000 after acquiring an additional 3,531,070 shares during the period. Technology Crossover Management X Ltd. grew its position in shares of GitLab by 491.4% during the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company's stock valued at $72,137,000 after acquiring an additional 1,597,114 shares during the period. Vanguard Group Inc. grew its position in shares of GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company's stock valued at $688,902,000 after acquiring an additional 1,285,881 shares during the period. Eminence Capital LP grew its position in shares of GitLab by 15.9% during the 3rd quarter. Eminence Capital LP now owns 7,207,729 shares of the company's stock valued at $324,924,000 after acquiring an additional 989,122 shares during the period. Finally, Franklin Resources Inc. grew its position in shares of GitLab by 35.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company's stock valued at $159,297,000 after acquiring an additional 926,824 shares during the period. Institutional investors own 95.04% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on GTLB shares. Truist Financial cut their price objective on shares of GitLab from $35.00 to $25.00 and set a "hold" rating for the company in a research report on Wednesday, March 4th. Guggenheim reissued a "neutral" rating on shares of GitLab in a research report on Wednesday. Sanford C. Bernstein cut their price objective on shares of GitLab from $70.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, March 4th. Weiss Ratings raised shares of GitLab from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday. Finally, Canaccord Genuity Group dropped their target price on shares of GitLab from $70.00 to $40.00 and set a "buy" rating for the company in a report on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nineteen have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, GitLab has a consensus rating of "Hold" and an average price target of $36.64.

Insider Activity

In related news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the transaction, the director owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of GitLab stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the completion of the transaction, the director owned 325 shares of the company's stock, valued at approximately $7,458.75. This represents a 99.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 1,392,308 shares of company stock valued at $31,654,249. 10.64% of the stock is currently owned by company insiders.

GitLab Price Performance

GTLB opened at $31.12 on Monday. The firm has a 50-day simple moving average of $24.08 and a two-hundred day simple moving average of $30.06. The company has a market capitalization of $5.29 billion, a PE ratio of -194.50 and a beta of 0.96. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $52.38.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The company had revenue of $264.16 million during 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 firm's revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, sell-side analysts expect that GitLab Inc. will post -0.32 earnings per share for the current year.

More GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: DA Davidson issued a positive forecast for GitLab, and JPMorgan raised its price target to $32, signaling some analysts still see upside from current levels. DA Davidson Issues Positive Forecast for GitLab NASDAQ: GTLB Stock Price GitLab NASDAQ: GTLB Given New $32.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Coverage highlighting GitLab’s “price recovery” says the company may be well-positioned for long-term growth as its agentic AI push gains traction, especially with customers focused on compliance and security. GitLab’s Price Recovery Gains Traction—Time to Get On Board?
• Positive Sentiment: GitLab is continuing to emphasize AI strategy and shifting monetization in its Q1 deep dive, which may support the investment case if it translates into stronger enterprise demand and better revenue growth. GTLB Q1 Deep Dive: AI Strategy, Workforce Restructuring, and Shifting Monetization Shape Outlook
• Neutral Sentiment: GitLab’s Q1 results presentation and conference transcript kept attention on execution details, but these items mainly reinforced existing investor focus rather than introducing a major new catalyst. GitLab Inc. 2027 Q1 - Results - Earnings Call Presentation GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Analyst opinions remain split, with some mixed commentary suggesting the market is still debating GitLab’s near-term valuation versus its longer-term AI opportunity. Analysts’ Opinions Are Mixed on These Technology Stocks: Gitlab (GTLB) and Nvidia (NVDA)
• Negative Sentiment: One Seeking Alpha piece argues GitLab is still not an attractive buy, reflecting ongoing concerns about valuation or execution risk. GitLab Inc.: Now Is Still Not The Time To Buy
• Negative Sentiment: GitLab cut 14% of its workforce to support its AI ambitions, a move that can improve efficiency but also signals restructuring pressure and near-term execution risk. GitLab Cuts 14% of Workforce to Fuel AI Agentic Era Ambitions

GitLab Company 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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