TFJ Management LLC Makes New Investment in GitLab Inc. $GTLB

Key Points

• TFJ Management LLC has acquired a new stake in GitLab, purchasing 17,082 shares valued at approximately $803,000, making it their 14th largest holding.
• Multiple institutional investors have significantly increased their stakes in GitLab, with Ameriprise Financial Inc. boosting its position by 276.9% in the last quarter.
• GitLab's stock is currently valued at around $44.28, with a recent increase of 8.1%, and the company posted a quarterly revenue growth of 26.8% compared to the previous year.

TFJ Management LLC purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 17,082 shares of the company's stock, valued at approximately $803,000. GitLab accounts for 0.8% of TFJ Management LLC's holdings, making the stock its 14th largest position.

Several other institutional investors also recently added to or reduced their stakes in the business. American Century Companies Inc. increased its position in shares of GitLab by 1,901.4% during the first quarter. American Century Companies Inc. now owns 775,225 shares of the company's stock valued at $36,436,000 after purchasing an additional 736,491 shares during the period. Oak Ridge Investments LLC bought a new stake in shares of GitLab during the first quarter valued at approximately $1,527,000. Vestmark Advisory Solutions Inc. increased its position in shares of GitLab by 57.8% during the first quarter. Vestmark Advisory Solutions Inc. now owns 52,470 shares of the company's stock valued at $2,466,000 after purchasing an additional 19,209 shares during the period. Lord Abbett & CO. LLC boosted its stake in GitLab by 100.9% in the 1st quarter. Lord Abbett & CO. LLC now owns 638,793 shares of the company's stock valued at $30,024,000 after buying an additional 320,784 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in GitLab by 80.2% in the 1st quarter. Neuberger Berman Group LLC now owns 49,456 shares of the company's stock valued at $2,324,000 after buying an additional 22,010 shares in the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Activity at GitLab

In other GitLab news, Director Karen Blasing sold 3,250 shares of the stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the completion of the sale, the director directly owned 103,889 shares in the company, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Jacobson sold 129,400 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $42.32, for a total value of $5,476,208.00. Following the completion of the sale, the director owned 551,997 shares of the company's stock, valued at $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 quarter, insiders sold 464,950 shares of company stock worth $20,025,356. 16.37% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently commented on GTLB. Truist Financial reaffirmed a "buy" rating and issued a $75.00 price target (down previously from $80.00) on shares of GitLab in a research note on Wednesday, June 11th. UBS Group decreased their price target on GitLab from $85.00 to $73.00 and set a "buy" rating on the stock in a research note on Wednesday, June 11th. Barclays decreased their price target on GitLab from $58.00 to $47.00 and set an "equal weight" rating on the stock in a research note on Wednesday, June 11th. JPMorgan Chase & Co. reduced their price objective on GitLab from $58.00 to $52.00 and set a "neutral" rating on the stock in a research note on Wednesday, June 11th. Finally, Macquarie reissued an "outperform" rating and issued a $75.00 price objective on shares of GitLab in a research note on Wednesday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $62.63.

GitLab Stock Up 1.3%

NASDAQ GTLB traded up $0.5820 on Thursday, reaching $44.2820. The company had a trading volume of 1,397,201 shares, compared to its average volume of 3,504,879. The stock's 50 day moving average is $43.88 and its 200-day moving average is $49.35. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 443.01 and a beta of 0.73. GitLab Inc. has a 52 week low of $37.90 and a 52 week high of $74.18.

GitLab (NASDAQ:GTLB - Get Free Report) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 EPS for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The firm's revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.03 earnings per share. 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, 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.