Northwestern Mutual Wealth Management Co. Buys 398,173 Shares of 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. boosted its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 236.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 566,768 shares of the company's stock after purchasing an additional 398,173 shares during the quarter. Northwestern Mutual Wealth Management Co. owned approximately 0.35% of GitLab worth $26,638,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Cullen Frost Bankers Inc. boosted its position in GitLab by 174.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after purchasing an additional 334 shares during the period. Cloud Capital Management LLC bought a new stake in shares of GitLab in the 1st quarter worth $29,000. CoreCap Advisors LLC raised its stake in shares of GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after buying an additional 452 shares in the last quarter. Harbour Investments Inc. raised its stake in shares of GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company's stock worth $42,000 after buying an additional 734 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after buying an additional 490 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on GTLB shares. Macquarie reissued an "outperform" rating and issued a $75.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. Raymond James Financial lowered their target price on GitLab from $80.00 to $60.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. lowered their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a report on Wednesday, June 11th. Mizuho lowered their price objective on GitLab from $72.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. Finally, Morgan Stanley increased their price objective on GitLab from $53.00 to $56.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. Twenty investment analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.83.

Insider Transactions at GitLab

In other news, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the business's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the sale, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. The trade was a 3.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 464,950 shares of company stock worth $20,025,356 over the last 90 days. 16.37% of the stock is owned by insiders.

GitLab Stock Up 8.0%

GTLB traded up $3.49 during trading on Wednesday, hitting $47.26. The company's stock had a trading volume of 4,703,205 shares, compared to its average volume of 4,352,941. The firm's 50 day moving average price is $44.18 and its two-hundred day moving average price is $48.44. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock has a market capitalization of $7.81 billion, a price-to-earnings ratio of 472.60 and a beta of 0.73.

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

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.