MIG Capital LLC Raises Stock Holdings in GitLab Inc. $GTLB

Key Points

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MIG Capital LLC grew its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 126.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,571 shares of the company's stock after purchasing an additional 7,576 shares during the quarter. MIG Capital LLC's holdings in GitLab were worth $638,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of GitLab by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock valued at $631,936,000 after purchasing an additional 302,864 shares during the period. ARK Investment Management LLC grew its position in shares of GitLab by 109.1% in the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after purchasing an additional 1,265,830 shares during the period. Ameriprise Financial Inc. grew its position in shares of 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 purchasing an additional 1,583,221 shares during the period. Invesco Ltd. lifted its stake in shares of GitLab by 22.0% in the first quarter. Invesco Ltd. now owns 1,603,520 shares of the company's stock worth $75,365,000 after buying an additional 289,683 shares in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of GitLab by 78.1% in the fourth quarter. Bank of America Corp DE now owns 1,423,487 shares of the company's stock worth $80,213,000 after buying an additional 624,235 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company's stock.

GitLab Trading Up 2.3%

GitLab stock traded up $1.00 during midday trading on Friday, hitting $45.18. 4,784,426 shares of the stock were exchanged, compared to its average volume of 4,135,573. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18. The stock has a market capitalization of $7.46 billion, a price-to-earnings ratio of 451.80 and a beta of 0.73. The stock's 50-day simple moving average is $43.97 and its 200 day simple moving average is $48.99.

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, 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 firm had revenue of $214.51 million during the quarter, compared to analysts' expectations of $213.21 million. During the same period last year, the business earned $0.03 earnings per share. GitLab's 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. Equities analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of GitLab from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. Barclays decreased their price target on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. Scotiabank decreased their price target on shares of GitLab from $80.00 to $67.00 and set a "sector outperform" rating on the stock in a research note on Friday, June 6th. Wells Fargo & Company decreased their price target on shares of GitLab from $65.00 to $60.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 11th. Finally, BTIG Research decreased their price target on shares of GitLab from $86.00 to $67.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.83.

Insider Buying and Selling

In related news, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the sale, the director directly owned 103,889 shares in the company, valued at approximately $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the company's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the sale, the director owned 551,997 shares in the company, valued at $23,360,513.04. The trade was a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 464,950 shares of company stock worth $20,025,356. Company insiders own 16.37% of the company's stock.

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.