GitLab Inc. $GTLB Shares Bought by TFJ Management LLC

TFJ Management LLC increased its position in shares of GitLab Inc. (NASDAQ:GTLB) by 111.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 221,259 shares of the company’s stock after acquiring an additional 116,490 shares during the quarter. GitLab accounts for about 6.7% of TFJ Management LLC’s holdings, making the stock its 7th largest position. TFJ Management LLC owned approximately 0.13% of GitLab worth $9,974,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Goldman Sachs Group Inc. boosted its stake in GitLab by 1.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after purchasing an additional 12,200 shares during the period. Woodline Partners LP acquired a new stake in GitLab during the 1st quarter valued at $314,000. Bank of Montreal Can lifted its holdings in shares of GitLab by 146.9% in the second quarter. Bank of Montreal Can now owns 27,823 shares of the company’s stock valued at $1,255,000 after purchasing an additional 16,552 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of GitLab by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 678,598 shares of the company’s stock worth $30,612,000 after buying an additional 39,550 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in shares of GitLab by 74.9% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 112,104 shares of the company’s stock valued at $5,057,000 after buying an additional 48,000 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $22.69 on Friday. GitLab Inc. has a one year low of $22.40 and a one year high of $54.08. The business’s 50-day moving average price is $30.97 and its two-hundred day moving average price is $39.71. The company has a market capitalization of $3.82 billion, a P/E ratio of -64.83 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period last year, the business earned $0.33 EPS. On average, equities analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

Insider Transactions at GitLab

In other GitLab news, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Mundy sold 2,756 shares of the business’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $38.42, for a total transaction of $105,885.52. Following the completion of the sale, the chief accounting officer directly owned 47,184 shares of the company’s stock, valued at $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 503,744 shares of company stock worth $18,590,495. Corporate insiders own 16.37% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on GTLB shares. Piper Sandler downgraded GitLab from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $55.00 to $28.00 in a research note on Wednesday, March 4th. Morgan Stanley lowered their target price on GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price target on shares of GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Sanford C. Bernstein decreased their price target on shares of GitLab from $70.00 to $60.00 and set an “outperform” rating for the company in a report on Wednesday, March 4th. Finally, Zacks Research downgraded shares of GitLab from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $39.62.

GitLab Company Profile

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.