WCM Investment Management LLC Acquires Shares of 333,771 GitLab Inc. $GTLB

Key Points

• WCM Investment Management LLC acquired **333,771 shares** of GitLab Inc. for approximately **$15,066,000**, representing **0.20%** ownership post-purchase.
• Insider selling included **Director Sytse Sijbrandij** selling **108,600 shares** for about **$4.81 million**, signaling notable insider activity in the company.
• GitLab's stock has a current market cap of **$8.05 billion** and reported a **29.2% increase** in revenue year-over-year, although it missed earnings estimates this quarter.

WCM Investment Management LLC purchased a new position in GitLab Inc. (NASDAQ:GTLB - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 333,771 shares of the company's stock, valued at approximately $15,066,000. WCM Investment Management LLC owned 0.20% of GitLab as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MetLife Investment Management LLC grew its stake in GitLab by 3.2% in the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company's stock worth $365,000 after purchasing an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. grew its stake in GitLab by 174.9% in the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock worth $25,000 after purchasing an additional 334 shares in the last quarter. GAMMA Investing LLC grew its stake in GitLab by 114.2% in the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after purchasing an additional 490 shares in the last quarter. Amalgamated Bank grew its stake in GitLab by 7.2% in the first quarter. Amalgamated Bank now owns 8,537 shares of the company's stock worth $401,000 after purchasing an additional 571 shares in the last quarter. Finally, Veracity Capital LLC grew its stake in GitLab by 7.0% in the second quarter. Veracity Capital LLC now owns 8,921 shares of the company's stock worth $402,000 after purchasing an additional 584 shares in the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Sytse Sijbrandij sold 108,600 shares of the firm's stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $44.29, for a total value of $4,809,894.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $45.26, for a total value of $147,095.00. Following the sale, the director directly owned 97,389 shares of the company's stock, valued at approximately $4,407,826.14. This represents a 3.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,224,362 shares of company stock worth $59,828,897 over the last quarter. Company insiders own 16.37% of the company's stock.

GitLab Price Performance

GitLab stock opened at $48.27 on Friday. The stock has a market capitalization of $8.05 billion, a price-to-earnings ratio of -1,206.75 and a beta of 0.73. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The business has a fifty day moving average price of $46.23 and a 200-day moving average price of $45.71.

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

Wall Street Analyst Weigh In

GTLB has been the topic of several research analyst reports. Barclays dropped their price objective on GitLab from $47.00 to $44.00 and set an "equal weight" rating on the stock in a research note on Friday, September 5th. Zacks Research raised GitLab from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $50.00 target price on shares of GitLab in a research report on Tuesday, June 24th. Piper Sandler dropped their target price on GitLab from $85.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, September 4th. Finally, Capital One Financial cut GitLab from an "overweight" rating to an "equal weight" rating and set a $46.00 target price on the stock. in a research report on Wednesday, July 16th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, GitLab currently has a consensus rating of "Moderate Buy" and a consensus target price of $58.83.

About GitLab

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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