Northwestern Mutual Wealth Management Co. Boosts Stock Holdings in GitLab Inc. $GTLB

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in GitLab Inc. by 236.2%, acquiring an additional 398,173 shares and now holding about 0.35% of the company's stock, valued at approximately $26.6 million.
• GitLab's stocks were reported to have risen by 2.3%, and the company recently posted earnings of $0.17 EPS, surpassing analyst expectations.
• Several analysts have lowered their price targets for GitLab, with the consensus target now at $62.83, reflecting a broad range of ratings including one Strong Buy and many Buy ratings.

Northwestern Mutual Wealth Management Co. raised its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 236.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 566,768 shares of the company's stock after purchasing an additional 398,173 shares during the period. Northwestern Mutual Wealth Management Co. owned 0.35% of GitLab worth $26,638,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its position in shares of GitLab by 4.3% in the 4th quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company's stock worth $228,000 after purchasing an additional 166 shares during the period. Utah Retirement Systems lifted its position in shares of GitLab by 3.1% in the 4th quarter. Utah Retirement Systems now owns 6,600 shares of the company's stock worth $372,000 after purchasing an additional 200 shares during the period. Mariner LLC lifted its position in shares of GitLab by 1.7% in the 4th quarter. Mariner LLC now owns 12,583 shares of the company's stock worth $709,000 after purchasing an additional 214 shares during the period. True Wealth Design LLC lifted its position in shares of GitLab by 20.0% in the 4th quarter. True Wealth Design LLC now owns 1,297 shares of the company's stock worth $73,000 after purchasing an additional 216 shares during the period. Finally, Graham Capital Management L.P. lifted its position in shares of GitLab by 0.8% in the 4th quarter. Graham Capital Management L.P. now owns 30,806 shares of the company's stock worth $1,736,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 95.04% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GTLB. The Goldman Sachs Group restated a "neutral" rating and issued a $50.00 price target on shares of GitLab in a research report on Tuesday, June 24th. JPMorgan Chase & Co. dropped their price target on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, June 11th. Barclays dropped 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 report on Wednesday, June 11th. Truist Financial reiterated a "buy" rating and issued a $75.00 price objective (down previously from $80.00) on shares of GitLab in a research note on Wednesday, June 11th. Finally, Rosenblatt Securities assumed coverage on shares of GitLab in a research note on Tuesday, July 15th. They issued a "buy" rating and a $58.00 price objective for the company. Twenty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $62.83.

GitLab Price Performance

Shares of NASDAQ:GTLB traded down $1.01 during mid-day trading on Friday, hitting $48.02. The company had a trading volume of 4,988,744 shares, compared to its average volume of 4,499,558. The firm has a fifty day moving average price of $44.46 and a 200 day moving average price of $48.00. The company has a market capitalization of $7.93 billion, a PE ratio of 480.20 and a beta of 0.73. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. GitLab's quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.03 EPS. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction 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 completion of the sale, the director owned 103,889 shares in the company, valued at approximately $4,675,005. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the business's stock in a transaction on Wednesday, June 25th. The shares were 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 of the company's stock, valued at $23,360,513.04. This trade represents a 18.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 464,950 shares of company stock worth $20,025,356. 16.37% of the stock is owned by corporate insiders.

About GitLab

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.