Nordea Investment Management AB Has $28.01 Million Holdings in GitLab Inc. $GTLB

Key Points

• Nordea Investment Management AB increased its holdings in GitLab Inc. by 361.0%, now owning 610,902 shares valued at approximately $28 million.
• Insider transactions have seen significant sales, with Director Sytse Sijbrandij selling 108,600 shares for almost $4.81 million, along with other insiders selling a total of 1.22 million shares over the last three months.
• Analyst sentiment shows mixed ratings with a consensus of "Moderate Buy", while target prices vary widely, from as low as $45 to as high as $58.

Nordea Investment Management AB raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 361.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 610,902 shares of the company's stock after buying an additional 478,371 shares during the period. Nordea Investment Management AB owned 0.37% of GitLab worth $28,010,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MetLife Investment Management LLC boosted its position in GitLab by 3.2% in the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company's stock valued at $365,000 after buying an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in shares of GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock worth $25,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after purchasing an additional 490 shares in the last quarter. Amalgamated Bank lifted its position in shares of GitLab by 7.2% during the first quarter. Amalgamated Bank now owns 8,537 shares of the company's stock worth $401,000 after purchasing an additional 571 shares in the last quarter. Finally, Veracity Capital LLC lifted its position in shares of GitLab by 7.0% during the second quarter. Veracity Capital LLC now owns 8,921 shares of the company's stock worth $402,000 after purchasing an additional 584 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GTLB shares. Capital One Financial lowered shares of GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a research report on Wednesday, July 16th. Weiss Ratings reiterated a "sell (e+)" rating on shares of GitLab in a research report on Wednesday, October 8th. Rosenblatt Securities reiterated a "buy" rating and set a $58.00 target price on shares of GitLab in a research report on Thursday, September 4th. Piper Sandler reduced their target price on shares of GitLab from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Finally, DA Davidson dropped their price target on shares of GitLab from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $58.83.

Insider Activity

In other GitLab news, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the completion of the sale, the director owned 97,389 shares of the company's stock, valued at approximately $4,407,826.14. This represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.29, for a total transaction of $4,809,894.00. The disclosure for this sale can be found here. Insiders sold a total of 1,224,362 shares of company stock worth $59,828,897 over the last three months. Company insiders own 16.37% of the company's stock.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $45.31 on Friday. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18. The company has a market capitalization of $7.55 billion, a PE ratio of -1,132.75 and a beta of 0.73. The company has a 50 day moving average price of $46.33 and a two-hundred day moving average price of $45.67.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $227.20 million. During the same period in the previous year, the company posted $0.15 EPS. The firm's revenue for the quarter was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. On average, sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current year.

GitLab Company 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.

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