Norges Bank Makes New Investment in GitLab Inc. $GTLB

Key Points

• Norges Bank disclosed a new fourth-quarter stake in GitLab, buying 2.17 million shares worth about $81.4 million and ending with 1.29% ownership of the company.
• 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.
• Insider selling was notable: director Sytse Sijbrandij sold 116,200 shares and director Matthew Jacobson sold 700,109 shares, even as analysts remain mixed with an average Hold rating and a consensus target price of $36.64.

Norges Bank bought a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,168,377 shares of the company's stock, valued at approximately $81,379,000. Norges Bank owned 1.29% of GitLab as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP lifted its stake in GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Jones Financial Companies Lllp increased its stake in shares of GitLab by 20.1% in the 3rd quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company's stock valued at $102,000 after purchasing an additional 358 shares during the last quarter. Truist Financial Corp increased its stake in shares of GitLab by 1.6% in the 3rd quarter. Truist Financial Corp now owns 24,473 shares of the company's stock valued at $1,103,000 after purchasing an additional 389 shares during the last quarter. Clearstead Advisors LLC raised its holdings in shares of GitLab by 35.2% during the 3rd quarter. Clearstead Advisors LLC now owns 1,747 shares of the company's stock worth $79,000 after buying an additional 455 shares in the last quarter. Finally, Larson Financial Group LLC raised its holdings in shares of GitLab by 92.7% during the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock worth $45,000 after buying an additional 481 shares in the last quarter. Institutional investors own 95.04% of the company's stock.

Insider Activity

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the 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 directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the stock in a transaction dated Thursday, March 19th. The shares were 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 $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,392,308 shares of company stock valued at $31,654,249 over the last quarter. Corporate insiders own 10.64% of the company's stock.

GitLab Trading Up 0.9%

GitLab stock opened at $31.12 on Friday. 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 12 month low of $18.73 and a 12 month high of $52.38. The stock has a 50-day moving average price of $24.08 and a two-hundred day moving average price of $30.15.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $264.16 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, analysts predict that GitLab Inc. will post -0.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

GTLB has been the topic of several research analyst reports. Needham & Company LLC raised their price objective on GitLab from $32.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday. Cantor Fitzgerald raised their price objective on GitLab from $27.00 to $35.00 and gave the company a "neutral" rating in a research note on Wednesday. Truist Financial reduced their price objective on GitLab from $35.00 to $25.00 and set a "hold" rating on the stock in a research note on Wednesday, March 4th. Canaccord Genuity Group reduced their price objective on GitLab from $70.00 to $40.00 and set a "buy" rating on the stock in a research note on Wednesday, March 4th. Finally, Rosenblatt Securities reaffirmed a "buy" rating and issued a $43.00 price objective on shares of GitLab in a research note on Monday, June 1st. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $36.64.

Key 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

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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