Madison Asset Management LLC Invests $4.06 Million in GitLab Inc. $GTLB

Madison Asset Management LLC purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 133,025 shares of the company's stock, valued at approximately $4,061,000. Madison Asset Management LLC owned about 0.08% of GitLab at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GTLB. Handelsbanken Fonder AB boosted its stake in GitLab by 13.0% during the 2nd quarter. Handelsbanken Fonder AB now owns 46,000 shares of the company's stock worth $1,404,000 after acquiring an additional 5,300 shares during the last quarter. GAMMA Investing LLC raised its holdings in GitLab by 60.4% in the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company's stock worth $85,000 after purchasing an additional 1,043 shares during the period. Versant Capital Management Inc raised its holdings in GitLab by 300.6% in the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company's stock worth $57,000 after purchasing an additional 1,401 shares during the period. Pacer Advisors Inc. boosted its position in shares of GitLab by 117.0% during the first quarter. Pacer Advisors Inc. now owns 854,928 shares of the company's stock worth $18,501,000 after purchasing an additional 460,887 shares in the last quarter. Finally, Militia Capital Management LLC bought a new position in shares of GitLab during the first quarter worth $1,480,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of analysts recently commented on GTLB shares. Wolfe Research restated an "outperform" rating and issued a $36.00 price objective on shares of GitLab in a research report on Wednesday, June 3rd. Needham & Company LLC increased their price target on GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. raised their price target on GitLab from $28.00 to $32.00 and gave the stock a "neutral" rating in a research report on Wednesday, June 3rd. Zacks Research lowered GitLab from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 3rd. Finally, Rosenblatt Securities reissued a "buy" rating and set a $43.00 target price on shares of GitLab in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $38.71.

GitLab Price Performance

Shares of GitLab stock opened at $42.08 on Friday. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of -263.00 and a beta of 0.94. The stock's 50-day moving average is $33.43 and its 200-day moving average is $28.19. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38.

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

About GitLab

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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