Optimus Prime Fund Management Co. Ltd. Makes New Investment in GitLab Inc. $GTLB

Key Points

• Optimus Prime Fund Management disclosed a new fourth-quarter stake in GitLab, buying 57,000 shares worth about $2.14 million, making GTLB its 23rd-largest holding.
• GitLab remains heavily owned by institutions, with 95.04% of shares held by institutional investors and hedge funds, even as several other funds adjusted their positions.
• Insider selling has been notable: director Sytse Sijbrandij sold 116,200 shares and Matthew Jacobson sold 700,109 shares, while analysts currently rate GitLab a Hold on average with a consensus price target of $36.64.

Optimus Prime Fund Management Co. Ltd. acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 57,000 shares of the company's stock, valued at approximately $2,139,000. GitLab makes up 0.2% of Optimus Prime Fund Management Co. Ltd.'s investment portfolio, making the stock its 23rd largest position.

Several other institutional investors and hedge funds have also modified their holdings of GTLB. Allworth Financial LP raised its holdings in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after buying an additional 309 shares during the period. Quarry LP acquired a new position in shares of GitLab in the third quarter valued at approximately $31,000. Lodestone Wealth Management LLC bought a new stake in shares of GitLab during the fourth quarter worth $36,000. Larson Financial Group LLC raised its holdings in shares of GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company's stock worth $45,000 after acquiring an additional 481 shares during the period. Finally, Advisory Services Network LLC acquired a new stake in shares of GitLab during the third quarter worth $48,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director owned 15,018,251 shares of the company's stock, valued at approximately $373,203,537.35. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the firm's stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the completion of the transaction, the director directly owned 325 shares of the company's stock, valued at $7,458.75. This represents a 99.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,392,308 shares of company stock worth $31,654,249 in the last ninety days. Insiders own 10.64% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on GTLB shares. Needham & Company LLC upped their target price on shares of GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, June 3rd. Bank of America restated a "neutral" rating on shares of GitLab in a report on Wednesday, June 3rd. Mizuho increased their price objective on GitLab from $26.00 to $28.00 and gave the stock a "neutral" rating in a report on Wednesday, June 3rd. Truist Financial dropped their target price on GitLab from $35.00 to $25.00 and set a "hold" rating on the stock in a research report on Wednesday, March 4th. Finally, UBS Group boosted their target price on GitLab from $24.00 to $32.00 and gave the company a "neutral" rating in a research note on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, GitLab currently has a consensus rating of "Hold" and an average price target of $36.64.

GitLab Price Performance

GitLab stock opened at $27.81 on Wednesday. The firm has a 50-day moving average of $25.10 and a 200-day moving average of $29.41. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38. The company has a market cap of $4.70 billion, a price-to-earnings ratio of -173.81 and a beta of 0.96.

GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. During the same quarter in the previous year, the business earned $0.17 earnings per share. GitLab's quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, sell-side analysts expect that GitLab Inc. will post -0.18 earnings per share for the current 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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