Light Street Capital Management LLC Has $59.38 Million Stock Holdings in GitLab Inc. $GTLB

Light Street Capital Management LLC grew its position in GitLab Inc. (NASDAQ:GTLB) by 66.2% in the 2nd quarter, Holdings Channel.com reports. The firm owned 1,945,000 shares of the company’s stock after buying an additional 775,000 shares during the period. GitLab makes up approximately 6.6% of Light Street Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Light Street Capital Management LLC’s holdings in GitLab were worth $59,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the business. Huntington National Bank lifted its position in GitLab by 118.9% in the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock worth $12,034,000 after purchasing an additional 174,200 shares during the period. ABN Amro Investment Solutions purchased a new position in GitLab during the 4th quarter worth approximately $2,420,000. Bank of America Corp DE raised its position in GitLab by 55.3% during the first quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock valued at $42,320,000 after buying an additional 696,096 shares during the period. California State Teachers Retirement System increased its stake in GitLab by 21.7% in the 1st quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock valued at $3,348,000 after buying an additional 27,624 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of GitLab by 19.7% during the 1st quarter. First Trust Advisors LP now owns 1,893,926 shares of the company’s stock valued at $40,985,000 after buying an additional 312,312 shares during the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

GTLB has been the subject of several analyst reports. Cantor Fitzgerald boosted their target price on GitLab from $35.00 to $50.00 and gave the stock a “neutral” rating in a report on Monday, August 31st. Canaccord Genuity Group lifted their price objective on GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Weiss Ratings lowered shares of GitLab from a “sell (d)” rating to a “sell (e+)” rating in a report on Wednesday, September 2nd. Rosenblatt Securities lifted their price objective on GitLab from $43.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, September 2nd. Finally, Wells Fargo & Company increased their price objective on shares of GitLab from $40.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $51.75.

GitLab Trading Down 5.4%

Shares of GTLB stock traded down $2.68 during trading hours on Tuesday, hitting $47.15. 4,373,616 shares of the company were exchanged, compared to its average volume of 5,913,600. The company has a market capitalization of $7.96 billion, a PE ratio of -147.34 and a beta of 0.99. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $55.55. The business has a 50 day moving average of $37.74 and a two-hundred day moving average of $29.40.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, September 1st. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.06. The firm had revenue of $286.25 million during the quarter, compared to analysts’ expectations of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%.The company’s revenue was up 21.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, research analysts forecast that GitLab Inc. will post -0.27 EPS for the current year.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the sale, the director directly owned 14,902,051 shares in the company, valued at $423,814,330.44. This trade represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction on Friday, August 7th. The stock was sold at an average price of $38.00, for a total transaction of $331,550.00. Following the completion of the sale, the chief accounting officer directly owned 105,332 shares in the company, valued at approximately $4,002,616. This represents a 7.65% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by company insiders.

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.