Raymond James Financial Inc. Buys 41,380 Shares of GitLab Inc. $GTLB

Raymond James Financial Inc. lifted its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 68.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,575 shares of the company's stock after purchasing an additional 41,380 shares during the quarter. Raymond James Financial Inc. owned about 0.06% of GitLab worth $4,774,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in GTLB. Ameriprise Financial Inc. lifted its position in GitLab by 276.9% in the 4th quarter. Ameriprise Financial Inc. now owns 2,155,016 shares of the company's stock valued at $121,435,000 after acquiring an additional 1,583,221 shares in the last quarter. ARK Investment Management LLC lifted its position in GitLab by 109.1% in the 1st 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 in the last quarter. Nikko Asset Management Americas Inc. lifted its position in GitLab by 175.1% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 1,396,613 shares of the company's stock valued at $65,529,000 after acquiring an additional 888,900 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its position in GitLab by 161.2% in the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,326,067 shares of the company's stock valued at $62,325,000 after acquiring an additional 818,354 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in GitLab by 1,901.4% in the 1st quarter. American Century Companies Inc. now owns 775,225 shares of the company's stock valued at $36,436,000 after acquiring an additional 736,491 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on GTLB shares. Canaccord Genuity Group decreased their target price on shares of GitLab from $76.00 to $70.00 and set a "buy" rating for the company in a research note on Thursday. DA Davidson decreased their target price on shares of GitLab from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday. KeyCorp decreased their target price on shares of GitLab from $60.00 to $53.00 and set an "overweight" rating for the company in a research note on Thursday. Needham & Company LLC reiterated a "buy" rating and set a $55.00 target price on shares of GitLab in a research note on Thursday. Finally, Morgan Stanley boosted their target price on shares of GitLab from $53.00 to $56.00 and gave the company an "overweight" rating in a research note on Wednesday, June 11th. Nineteen equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.87.

Insider Transactions at GitLab

In other news, Director Karen Blasing sold 3,250 shares of the firm's stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.00, for a total transaction of $146,250.00. Following the transaction, the director directly owned 103,889 shares of the company's stock, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 129,400 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total transaction of $5,476,208.00. Following the transaction, the director directly owned 551,997 shares in the company, valued at approximately $23,360,513.04. This trade represents a 18.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 464,950 shares of company stock valued at $20,025,356. 16.37% of the stock is currently owned by company insiders.

GitLab Trading Down 7.4%

Shares of NASDAQ:GTLB opened at $43.46 on Friday. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The company has a 50-day moving average price of $44.78 and a 200 day moving average price of $47.53. The company has a market cap of $7.18 billion, a price-to-earnings ratio of -1,086.50 and a beta of 0.75.

GitLab (NASDAQ:GTLB - Get Free Report) last announced its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.80%. The firm had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same quarter last year, the firm earned $0.03 EPS. The firm's revenue for the quarter was up 26.8% compared to the same quarter last year. 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, equities analysts forecast that GitLab Inc. will post -0.31 EPS for the current 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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