Wellington Management Group LLP Boosts Stake in GitLab Inc. $GTLB

Key Points

• Wellington Management Group LLP increased its stake in GitLab Inc. by 8.1%, owning 803,372 shares valued at approximately $37.76 million after purchasing an additional 59,880 shares in the first quarter.
• Insider transactions included significant sales, with Director Sytse Sijbrandij selling 108,600 shares for over $4.9 million, and overall, insiders sold 464,950 shares in the last 90 days.
• GitLab's stock currently has a market capitalization of $7.46 billion, with a one-year price range of $37.90 to $74.18 and recent quarterly revenue of $214.51 million, reflecting a 26.8% year-over-year increase.

Wellington Management Group LLP grew its stake in GitLab Inc. (NASDAQ:GTLB - Free Report) by 8.1% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 803,372 shares of the company's stock after buying an additional 59,880 shares during the quarter. Wellington Management Group LLP owned 0.49% of GitLab worth $37,758,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. boosted its stake in shares of GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company's stock valued at $25,000 after buying an additional 334 shares during the period. Cloud Capital Management LLC purchased a new stake in GitLab during the first quarter worth approximately $29,000. CoreCap Advisors LLC lifted its stake in GitLab by 327.5% during the fourth quarter. CoreCap Advisors LLC now owns 590 shares of the company's stock worth $33,000 after purchasing an additional 452 shares during the last quarter. Harbour Investments Inc. lifted its stake in GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company's stock worth $42,000 after purchasing an additional 734 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company's stock worth $43,000 after purchasing an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company's stock.

GitLab Stock Up 8.0%

GTLB traded up $3.49 during trading on Wednesday, hitting $47.26. 4,703,205 shares of the stock were exchanged, compared to its average volume of 4,352,941. The firm has a market capitalization of $7.81 billion, a P/E ratio of 472.60 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 stock has a fifty day moving average price of $44.18 and a two-hundred day moving average price of $48.44.

GitLab (NASDAQ:GTLB - Get Free Report) last released its earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.02. The business had revenue of $214.51 million for the quarter, compared to analyst estimates of $213.21 million. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The company's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter in the previous 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. Analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Insider Activity

In other news, Director Sytse Sijbrandij sold 108,600 shares of the business's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the business'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 value of $146,250.00. Following the completion of the transaction, the director directly owned 103,889 shares in the company, valued at approximately $4,675,005. The trade was a 3.03% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 464,950 shares of company stock valued at $20,025,356. Company insiders own 16.37% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GTLB shares. Morgan Stanley boosted their target price on GitLab from $53.00 to $56.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. DA Davidson started coverage on GitLab in a research note on Friday, August 22nd. They set a "neutral" rating and a $50.00 target price for the company. Needham & Company LLC decreased their target price on GitLab from $85.00 to $55.00 and set a "buy" rating for the company in a research note on Wednesday, June 11th. Canaccord Genuity Group decreased their target price on GitLab from $78.00 to $76.00 and set a "buy" rating for the company in a research note on Thursday, June 12th. Finally, Mizuho decreased their target price on GitLab from $72.00 to $60.00 and set an "outperform" rating for the company in a research note on Wednesday, June 11th. Twenty analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.83.

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.