Octahedron Capital Management L.P. Has $3.70 Million Holdings in GitLab Inc. $GTLB

Octahedron Capital Management L.P. decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 51.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,900 shares of the company’s stock after selling 86,100 shares during the quarter. GitLab makes up about 2.8% of Octahedron Capital Management L.P.’s investment portfolio, making the stock its 13th biggest holding. Octahedron Capital Management L.P.’s holdings in GitLab were worth $3,695,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Twin Tree Management LP bought a new stake in GitLab during the 1st quarter worth about $29,000. Harbour Investments Inc. increased its position in shares of GitLab by 447.6% in the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock valued at $42,000 after acquiring an additional 734 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in GitLab during the second quarter worth about $56,000. Byrne Asset Management LLC acquired a new position in GitLab during the second quarter valued at approximately $61,000. Finally, Banque Transatlantique SA bought a new position in GitLab in the first quarter valued at approximately $83,000. Institutional investors own 95.04% of the company’s stock.

GitLab Trading Up 3.8%

GitLab stock opened at $44.27 on Wednesday. The company has a market capitalization of $7.38 billion, a price-to-earnings ratio of -1,106.75 and a beta of 0.74. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock’s 50 day moving average is $47.18 and its 200-day moving average is $46.17.

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

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $50.14, for a total transaction of $5,445,204.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Simon Mundy sold 5,191 shares of the business’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 transaction of $228,352.09. Following the completion of the sale, the chief accounting officer directly owned 53,507 shares in the company, valued at approximately $2,353,772.93. This trade represents a 8.84% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 1,112,512 shares of company stock valued at $54,778,271 in the last ninety days. Insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GTLB. 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. Needham & Company LLC restated a “buy” rating and set a $55.00 target price on shares of GitLab in a report on Thursday, September 4th. Rosenblatt Securities reaffirmed a “buy” rating and set a $58.00 price target on shares of GitLab in a research report on Thursday, September 4th. FBN Securities upgraded shares of GitLab to a “strong-buy” rating in a research note on Thursday, September 4th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $58.38.

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.