Pacer Advisors Inc. Buys 460,887 Shares of GitLab Inc. $GTLB

Key Points

• Pacer Advisors more than doubled its GitLab stake in the first quarter, buying 460,887 additional shares for a total of 854,928 shares valued at approximately $18.5 million. Institutional investors and hedge funds collectively own 95.04% of GitLab.
• GitLab exceeded quarterly expectations, reporting $0.23 in EPS versus the $0.20 consensus and revenue of $264.16 million, up 23.2% year over year. Despite improved results, the company posted a negative net margin and analysts expect a full-year loss.
• GitLab shares opened at $36.48, above the average analyst price target of $36.58; analyst sentiment remains mixed, with a consensus rating of “Hold.” Director Sytse Sijbrandij also sold 116,200 shares under a pre-arranged trading plan.

Pacer Advisors Inc. raised its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 117.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 854,928 shares of the company's stock after buying an additional 460,887 shares during the quarter. Pacer Advisors Inc. owned 0.51% of GitLab worth $18,501,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Eminence Capital LP raised its holdings in GitLab by 6.9% in the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company's stock worth $289,065,000 after purchasing an additional 494,497 shares during the period. AQR Capital Management LLC grew its holdings in shares of GitLab by 766.3% in the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company's stock valued at $203,915,000 after buying an additional 4,806,163 shares during the period. Atreides Management LP grew its holdings in shares of GitLab by 867.3% in the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company's stock valued at $177,652,000 after buying an additional 3,531,070 shares during the period. SG Americas Securities LLC increased its position in shares of GitLab by 6,528.0% in the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company's stock valued at $67,850,000 after buying an additional 3,088,089 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of GitLab by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 2,723,013 shares of the company's stock valued at $102,216,000 after buying an additional 97,342 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

GitLab Price Performance

GTLB opened at $36.48 on Wednesday. The business's 50-day moving average price is $30.93 and its two-hundred day moving average price is $27.76. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of -228.00 and a beta of 0.94.

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

Insider Buying and Selling

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the company's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the transaction, the director owned 14,902,051 shares of the company's stock, valued at $423,814,330.44. This represents a 0.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company's stock.

Analyst Ratings Changes

GTLB has been the topic of several research analyst reports. Weiss Ratings raised GitLab from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Wednesday, June 3rd. Wolfe Research reissued an "outperform" rating and issued a $36.00 target price on shares of GitLab in a research note on Wednesday, June 3rd. Needham & Company LLC increased their price target on GitLab from $32.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, June 3rd. Bank of America reaffirmed a "neutral" rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Sanford C. Bernstein reiterated an "outperform" rating on shares of GitLab in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat.com, GitLab presently has an average rating of "Hold" and an average target price of $36.58.

GitLab Company Profile

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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