Northwestern Mutual Wealth Management Co. Has $1.51 Million Stake in GitLab Inc. $GTLB

Key Points

• Northwestern Mutual Wealth Management increased its GitLab stake by 1,613% in the second quarter to 49,506 shares valued at approximately $1.51 million. Institutional investors collectively own 95.04% of GitLab’s stock.
• GitLab beat quarterly expectations with EPS of $0.24 versus $0.18 expected and revenue of $286.25 million versus $273.13 million, while revenue grew 21.3% year over year.
• Analyst sentiment remains mixed: several firms raised price targets, but the consensus rating is Hold with a $51.75 target. Company insiders also sold shares under pre-arranged Rule 10b5-1 trading plans.

Northwestern Mutual Wealth Management Co. grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 1,613.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 49,506 shares of the company's stock after purchasing an additional 46,616 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in GitLab were worth $1,511,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Allworth Financial LP grew its position 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 buying an additional 309 shares in the last quarter. Quarry LP bought a new stake in shares of GitLab during the 3rd quarter valued at $31,000. Fifth Third Bancorp grew its holdings in shares of GitLab by 220.6% during the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company's stock worth $35,000 after purchasing an additional 1,103 shares in the last quarter. Larson Financial Group LLC increased its position in shares of GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock worth $45,000 after purchasing an additional 481 shares during the period. Finally, Advisory Services Network LLC acquired a new position in GitLab in the third quarter valued at about $48,000. 95.04% of the stock is owned by institutional investors.

Key GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: Several firms raised their outlooks or reiterated bullish views. Piper Sandler lifted its price target to $52, while Morgan Stanley, UBS, Mizuho, Wells Fargo, Robert W. Baird, Needham and Rosenblatt indicated expectations for further appreciation. Needham separately maintained its Buy rating. Piper Sandler Raises GitLab Price Target
• Positive Sentiment: RBC Capital increased its GitLab price target to $60, implying additional upside, even though it retained a Hold rating. The higher target reflects improved expectations after the earnings beat. RBC Raises GitLab Price Target
• Positive Sentiment: GitLab reached a new 52-week high after the strong results, signaling continued investor momentum and renewed confidence in its growth outlook. GitLab Hits 52-Week High
• Neutral Sentiment: Analyst sentiment is not unanimous. RBC, Guggenheim and TD Cowen maintained Hold or Neutral ratings, suggesting that the recent rally and valuation may already reflect much of the expected earnings improvement. Guggenheim Reiterates Neutral Rating
• Neutral Sentiment: Unusually high options activity indicates elevated trading interest and potential volatility, but does not establish a clear directional signal. GitLab Options Trading
• Negative Sentiment: The initial earnings reaction included a sharp after-hours sell-off despite the earnings beat, indicating that some investors may have been disappointed by guidance, valuation or the extent of upside already priced into GTLB. GitLab After-Hours Sell-Off

Insider Activity at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were 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 of the company's stock, valued at $423,814,330.44. The trade was a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the company's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the transaction, the chief accounting officer owned 105,332 shares of the company's stock, valued at approximately $4,002,616. This trade represents a 7.65% 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.

Wall Street Analyst Weigh In

GTLB has been the topic of several recent analyst reports. Rosenblatt Securities raised their target price on shares of GitLab from $43.00 to $55.00 and gave the company a "buy" rating in a report on Wednesday. Sanford C. Bernstein reissued an "outperform" rating on shares of GitLab in a research note on Wednesday. BTIG Research upped their target price on GitLab from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Wednesday. Zacks Research downgraded GitLab from a "strong-buy" rating to a "hold" rating in a report on Monday, August 3rd. Finally, Barclays boosted their price target on GitLab from $25.00 to $47.00 and gave the stock an "underweight" rating in a report on Wednesday. Seven research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, GitLab presently has a consensus rating of "Hold" and a consensus price target of $51.75.

GitLab Stock Up 1.1%

Shares of GTLB stock opened at $49.83 on Friday. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $55.55. The stock's fifty day simple moving average is $37.34 and its 200 day simple moving average is $29.25. The firm has a market capitalization of $8.42 billion, a P/E ratio of -155.71 and a beta of 0.99.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its earnings results on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The firm had revenue of $286.25 million during the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%.The business's quarterly revenue was up 21.3% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, equities research analysts expect that GitLab Inc. will post -0.18 EPS for the current fiscal 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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