Savant Capital LLC Has $1.29 Million Stock Holdings in GitLab Inc. $GTLB

Savant Capital LLC trimmed its holdings in GitLab Inc. (NASDAQ:GTLB) by 48.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,626 shares of the company’s stock after selling 27,358 shares during the quarter. Savant Capital LLC’s holdings in GitLab were worth $1,291,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Envestnet Asset Management Inc. increased its position in GitLab by 3.9% in the 1st quarter. Envestnet Asset Management Inc. now owns 307,749 shares of the company’s stock valued at $14,464,000 after acquiring an additional 11,657 shares in the last quarter. Cerity Partners LLC grew its stake in shares of GitLab by 32.7% during the first quarter. Cerity Partners LLC now owns 72,973 shares of the company’s stock valued at $3,430,000 after purchasing an additional 17,973 shares during the last quarter. Xponance Inc. grew its stake in shares of GitLab by 6.6% during the first quarter. Xponance Inc. now owns 17,605 shares of the company’s stock valued at $827,000 after purchasing an additional 1,093 shares during the last quarter. Arizona State Retirement System increased its holdings in shares of GitLab by 2.1% in the first quarter. Arizona State Retirement System now owns 32,363 shares of the company’s stock valued at $1,521,000 after purchasing an additional 664 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its position in GitLab by 174.9% in the 1st 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 last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 0.2%

NASDAQ:GTLB opened at $46.45 on Thursday. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18. The business’s 50-day moving average price is $47.38 and its two-hundred day moving average price is $46.26. The firm has a market capitalization of $7.74 billion, a price-to-earnings ratio of -1,161.25 and a beta of 0.74.

GitLab (NASDAQ:GTLB) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.19). The company had revenue of $236.00 million for 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%.GitLab’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Sell-side analysts predict that GitLab Inc. will post -0.31 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on GTLB. FBN Securities upgraded GitLab to a “strong-buy” rating in a research report on Thursday, September 4th. Macquarie reiterated an “outperform” rating and issued a $75.00 price target on shares of GitLab in a report on Thursday, September 4th. KeyCorp lowered their price objective on GitLab from $60.00 to $53.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. UBS Group dropped their price objective on GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Finally, Truist Financial reduced their target price on shares of GitLab from $75.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $58.83.

Insider Activity

In other GitLab news, CAO Simon Mundy sold 5,191 shares of the company’s stock in a transaction that occurred on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total value of $228,352.09. Following the completion of the sale, the chief accounting officer owned 53,507 shares of the company’s stock, valued at approximately $2,353,772.93. This represents a 8.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,224,362 shares of company stock worth $59,828,897 in the last ninety days. Company insiders own 16.37% of the company’s stock.

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.