OFI Invest Asset Management Takes Position in GitLab Inc. $GTLB

Key Points

• OFI Invest Asset Management has acquired a new stake in GitLab Inc., purchasing 375,436 shares valued at approximately $16.94 million, which now represents 0.23% of the company's total stock.
• GitLab reported a quarterly earnings miss, with earnings per share at ($0.03), significantly below the consensus estimate of $0.16, although revenue grew 29.2% year-over-year.
• Institutional investors own 95.04% of GitLab's stock, reflecting strong institutional interest and confidence in the company's potential.

OFI Invest Asset Management purchased a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 375,436 shares of the company's stock, valued at approximately $16,936,000. OFI Invest Asset Management owned 0.23% of GitLab at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. boosted its stake in GitLab by 2,456.8% in the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company's stock worth $107,865,000 after purchasing an additional 2,205,238 shares in the last quarter. Champlain Investment Partners LLC acquired a new position in shares of GitLab during the first quarter valued at $60,371,000. ARK Investment Management LLC lifted its stake in shares of GitLab by 109.1% during the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after acquiring an additional 1,265,830 shares during the period. Nikko Asset Management Americas Inc. lifted its stake in GitLab by 175.1% in the first quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock valued at $65,529,000 after buying an additional 888,900 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in GitLab in the first quarter valued at about $39,976,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $44.61 on Friday. The stock has a market capitalization of $7.44 billion, a PE ratio of -1,115.25 and a beta of 0.73. The business has a fifty day moving average price of $46.08 and a two-hundred day moving average price of $45.78. GitLab Inc. has a fifty-two week low of $37.90 and a fifty-two week high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The company had revenue of $236.00 million during the quarter, compared to analyst estimates of $227.20 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. GitLab's revenue was up 29.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.15 earnings per share. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. On average, equities analysts expect that GitLab Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 396,147 shares of the business's stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total value of $20,017,307.91. Following the transaction, the director directly owned 73,299 shares of the company's stock, valued at $3,703,798.47. This trade represents a 84.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,224,362 shares of company stock worth $59,723,796 over the last 90 days. Corporate insiders own 16.37% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Wells Fargo & Company assumed coverage on GitLab in a research report on Tuesday, September 30th. They set an "equal weight" rating and a $50.00 price target on the stock. Guggenheim assumed coverage on GitLab in a research report on Thursday, September 11th. They set a "buy" rating and a $70.00 price target on the stock. KeyCorp dropped their price target on GitLab from $60.00 to $53.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Canaccord Genuity Group dropped their price target on GitLab from $76.00 to $70.00 and set a "buy" rating on the stock in a research report on Thursday, September 4th. Finally, Capital One Financial lowered GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a research report on Wednesday, July 16th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, GitLab presently has an average rating of "Moderate Buy" and an average price target of $58.83.

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.

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