Pictet Asset Management Holding SA Sells 1,647,179 Shares of GitLab Inc. $GTLB

Pictet Asset Management Holding SA reduced its position in GitLab Inc. (NASDAQ:GTLB) by 98.7% in the 1st quarter, Holdings Channel reports. The institutional investor owned 22,152 shares of the company’s stock after selling 1,647,179 shares during the period. Pictet Asset Management Holding SA’s holdings in GitLab were worth $479,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP boosted its holdings in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after acquiring an additional 309 shares during the last quarter. Quarry LP acquired a new position in GitLab during the 3rd quarter valued at about $31,000. Lodestone Wealth Management LLC acquired a new position in GitLab during the 4th quarter valued at about $36,000. Larson Financial Group LLC boosted its stake in shares of GitLab by 92.7% in the 3rd quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares during the last quarter. Finally, Advisory Services Network LLC acquired a new stake in shares of GitLab during the 3rd quarter worth approximately $48,000. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Mizuho raised their price objective on shares of GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. Morgan Stanley lifted their target price on shares of GitLab from $29.00 to $30.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 3rd. JPMorgan Chase & Co. upped their target price on shares of GitLab from $28.00 to $32.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. Finally, Royal Bank Of Canada upped their price objective on GitLab from $25.00 to $29.00 and gave the company a “sector perform” rating in a report on Wednesday, June 3rd. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $36.96.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $32.42 on Friday. The company has a 50 day moving average price of $28.13 and a two-hundred day moving average price of $28.28. The company has a market capitalization of $5.48 billion, a PE ratio of -202.62 and a beta of 0.96. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $52.38.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The company had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. During the same period last year, the firm posted $0.17 earnings per share. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, sell-side analysts forecast that GitLab Inc. will post -0.18 earnings per share for the current year.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the transaction, the director directly owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 348,600 shares of company stock worth $8,605,772 in the last 90 days. Insiders own 10.64% of the company’s stock.

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.