GitLab Inc. $GTLB Shares Bought by State of Wyoming

State of Wyoming raised its stake in GitLab Inc. (NASDAQ:GTLB) by 60.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 84,405 shares of the company’s stock after buying an additional 31,732 shares during the quarter. State of Wyoming’s holdings in GitLab were worth $1,827,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Allworth Financial LP boosted its position in shares of GitLab by 124.1% during the 3rd 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. Main Management ETF Advisors LLC grew its holdings in shares of GitLab by 1.0% in the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock valued at $1,264,000 after purchasing an additional 344 shares during the period. Utah Retirement Systems increased its position in GitLab by 6.6% during the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company’s stock worth $278,000 after purchasing an additional 460 shares during the last quarter. Larson Financial Group LLC increased its position in GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after purchasing an additional 481 shares during the last quarter. Finally, Quarry LP raised its stake in GitLab by 72.5% during the fourth quarter. Quarry LP now owns 1,202 shares of the company’s stock worth $45,000 after purchasing an additional 505 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Activity

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’s 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 completion of the transaction, the director directly owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 10.64% of the company’s stock.

GitLab Stock Down 4.6%

Shares of GTLB stock opened at $31.35 on Thursday. The firm has a 50 day moving average of $29.49 and a two-hundred day moving average of $27.93. The stock has a market capitalization of $5.30 billion, a PE ratio of -195.94 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 data on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The business had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same period last year, the firm earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Analysts expect that GitLab Inc. will post -0.18 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Needham & Company LLC boosted their target price on shares of GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Cantor Fitzgerald lifted their price target on shares of GitLab from $27.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. UBS Group lifted their price target on shares of GitLab from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Friday, July 10th. Bank of America reiterated a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, Truist Financial raised their target price on GitLab from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.58.

GitLab 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.