Prostatis Group LLC Takes $256,000 Position in GitLab Inc. $GTLB

Key Points

• Prostatis Group LLC has acquired a new stake in GitLab Inc., purchasing 5,683 shares valued at approximately $256,000 during the second quarter.
• Various institutional investors, including Vanguard Group Inc. and ARK Investment Management LLC, have significantly increased their holdings in GitLab, collectively owning over 95% of the stock.
• Analysts have varied opinions on GitLab's stock, with the average rating being a "Moderate Buy" and a consensus price target of $58.83.

Prostatis Group LLC bought a new stake in GitLab Inc. (NASDAQ:GTLB - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,683 shares of the company's stock, valued at approximately $256,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of GitLab by 2.3% in the first quarter. Vanguard Group Inc. now owns 13,445,456 shares of the company's stock valued at $631,936,000 after buying an additional 302,864 shares during the last quarter. Eminence Capital LP raised its holdings in shares of GitLab by 13.6% in the first quarter. Eminence Capital LP now owns 2,498,201 shares of the company's stock valued at $117,415,000 after buying an additional 299,191 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of GitLab by 15.4% in the first quarter. Ameriprise Financial Inc. now owns 2,487,608 shares of the company's stock valued at $116,919,000 after buying an additional 332,592 shares during the last quarter. ARK Investment Management LLC raised its holdings in shares of GitLab by 109.1% in the first quarter. ARK Investment Management LLC now owns 2,426,332 shares of the company's stock valued at $114,038,000 after buying an additional 1,265,830 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in shares of 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 valued at $107,865,000 after buying an additional 2,205,238 shares during the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GTLB has been the subject of a number of research reports. Barclays reduced their target price on shares of GitLab from $47.00 to $44.00 and set an "equal weight" rating for the company in a report on Friday, September 5th. Morgan Stanley increased their price target on shares of GitLab from $56.00 to $60.00 and gave the stock an "overweight" rating in a report on Monday, October 6th. Royal Bank Of Canada reissued an "outperform" rating and set a $62.00 price target on shares of GitLab in a report on Wednesday, June 25th. Wells Fargo & Company assumed coverage on shares of GitLab in a report on Tuesday, September 30th. They set an "equal weight" rating and a $50.00 price target for the company. Finally, Canaccord Genuity Group cut their price target on shares of GitLab from $76.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, GitLab has an average rating of "Moderate Buy" and a consensus price target of $58.83.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total value of $20,017,307.91. Following the completion of the transaction, the director directly owned 73,299 shares of the company's stock, valued at approximately $3,703,798.47. This trade represents a 84.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,224,362 shares of company stock valued at $59,723,796. 21.36% of the stock is currently owned by corporate insiders.

GitLab Trading Down 4.8%

Shares of GitLab stock opened at $44.61 on Monday. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The stock has a market cap of $7.44 billion, a PE ratio of -1,115.25 and a beta of 0.73. The company has a 50-day moving average of $46.08 and a two-hundred day moving average of $45.75.

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

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