Nuveen LLC Takes $18.04 Million Position in GitLab Inc. $GTLB

Key Points

• Nuveen LLC acquired 383,812 shares of GitLab Inc., valued at approximately $18.04 million, increasing their stake to 0.24% of the company.
• GitLab recently reported an earnings per share (EPS) of $0.17, exceeding the consensus estimate of $0.15, with a revenue of $214.51 million for the quarter.
• Analyst ratings for GitLab show a consensus average rating of "Moderate Buy", with a target price averaging $62.63.

Nuveen LLC bought a new position in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 383,812 shares of the company's stock, valued at approximately $18,039,000. Nuveen LLC owned about 0.24% of GitLab at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its holdings in shares of GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after acquiring an additional 334 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in shares of GitLab by 327.5% in the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock valued at $33,000 after acquiring an additional 452 shares during the last quarter. Cloud Capital Management LLC purchased a new stake in shares of GitLab in the 1st quarter valued at $29,000. Harbour Investments Inc. boosted its holdings in shares of GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company's stock valued at $42,000 after acquiring an additional 734 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company's stock valued at $43,000 after acquiring an additional 490 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on GTLB. Raymond James Financial dropped their price objective on shares of GitLab from $80.00 to $60.00 and set an "outperform" rating on the stock in a report on Wednesday, June 11th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $50.00 price objective on shares of GitLab in a report on Tuesday, June 24th. Barclays decreased their target price on shares of GitLab from $58.00 to $47.00 and set an "equal weight" rating for the company in a research note on Wednesday, June 11th. JPMorgan Chase & Co. decreased their target price on shares of GitLab from $58.00 to $52.00 and set a "neutral" rating for the company in a research note on Wednesday, June 11th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $62.00 target price on shares of GitLab in a research note on Wednesday, June 25th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $62.83.

GitLab Trading Up 0.1%

NASDAQ:GTLB traded up $0.05 during trading hours on Monday, reaching $45.23. 2,817,182 shares of the company were exchanged, compared to its average volume of 4,216,862. The stock's 50-day moving average is $44.04 and its 200-day moving average is $48.48. The firm has a market cap of $7.47 billion, a PE ratio of 452.30 and a beta of 0.73. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings data 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 analysts' expectations of $213.21 million. GitLab had a net margin of 2.17% and a negative return on equity of 4.07%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the business 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. As a group, research analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the company's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $41.44, for a total transaction of $4,500,384.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen Blasing sold 3,250 shares of the company's stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the transaction, the director owned 103,889 shares of the company's stock, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 464,950 shares of company stock worth $20,025,356. Company insiders own 21.36% of the company's stock.

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.