Cinctive Capital Management LP Buys 358,676 Shares of GitLab Inc. $GTLB

Cinctive Capital Management LP boosted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 1,584.2% in the first quarter, Holdings Channel reports. The firm owned 381,317 shares of the company’s stock after acquiring an additional 358,676 shares during the period. GitLab comprises about 1.4% of Cinctive Capital Management LP’s holdings, making the stock its 15th biggest position. Cinctive Capital Management LP’s holdings in GitLab were worth $17,922,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its position in GitLab by 174.9% during 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 during the period. CoreCap Advisors LLC boosted its position 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 period. Twin Tree Management LP acquired a new position in shares of GitLab during the first quarter worth approximately $29,000. Cloud Capital Management LLC acquired a new position in shares of GitLab during the first quarter worth approximately $29,000. Finally, Harbour Investments Inc. lifted its holdings in shares of GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after buying an additional 734 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

GitLab stock opened at $46.91 on Thursday. The stock has a fifty day moving average price of $44.79 and a two-hundred day moving average price of $47.70. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The firm has a market capitalization of $7.75 billion, a P/E ratio of 469.10 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, June 10th. The company reported $0.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The firm had revenue of $214.51 million during the quarter, compared to analyst estimates of $213.21 million. During the same period in the prior year, the company posted $0.03 earnings per share. The business’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. On average, equities research analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on GTLB shares. Cowen reiterated a “buy” rating on shares of GitLab in a report on Friday, June 6th. Morgan Stanley upped their price target on GitLab from $53.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, June 11th. JPMorgan Chase & Co. cut their price target on GitLab from $58.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, June 11th. Rosenblatt Securities reiterated a “buy” rating and set a $58.00 price target on shares of GitLab in a report on Thursday. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $62.00 target price on shares of GitLab in a research note on Wednesday, June 25th. Nineteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $61.91.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, June 16th. The stock was sold at an average price of $41.44, for a total transaction of $4,500,384.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Karen Blasing sold 3,250 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.00, for a total value of $146,250.00. Following the transaction, the director owned 103,889 shares of the company’s stock, valued at $4,675,005. This represents a 3.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 464,950 shares of company stock worth $20,025,356 over the last three months. 21.36% of the stock is currently owned by corporate insiders.

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.