Nordea Investment Management AB Has $28.01 Million Stake in GitLab Inc. $GTLB

Nordea Investment Management AB increased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 361.0% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 610,902 shares of the company’s stock after purchasing an additional 478,371 shares during the quarter. Nordea Investment Management AB’s holdings in GitLab were worth $28,010,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. boosted its holdings in GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock worth $25,000 after purchasing an additional 334 shares during the last quarter. Cloud Capital Management LLC acquired a new position in GitLab during the first quarter worth $29,000. Twin Tree Management LP acquired a new position in GitLab during the first quarter worth $29,000. Harbour Investments Inc. boosted its holdings in GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after purchasing an additional 734 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock worth $43,000 after purchasing an additional 490 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Activity at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $44.29, for a total transaction of $4,809,894.00. The transaction was disclosed in a document filed with the SEC, which can be accessed 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 stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the sale, the chief accounting officer directly owned 53,507 shares in the company, valued at $2,353,772.93. The trade was a 8.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,224,362 shares of company stock worth $59,828,897. 16.37% of the stock is owned by corporate insiders.

GitLab Stock Performance

NASDAQ GTLB opened at $45.31 on Friday. The firm has a 50-day moving average of $46.33 and a 200-day moving average of $45.67. The stock has a market cap of $7.55 billion, a PE ratio of -1,132.75 and a beta of 0.73. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18.

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

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of GitLab in a research note on Thursday, September 4th. KeyCorp cut their price target on shares of GitLab from $60.00 to $53.00 and set an “overweight” rating for the company in a research note on Thursday, September 4th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price target on shares of GitLab in a research note on Thursday, September 4th. The Goldman Sachs Group reiterated a “neutral” rating and issued a $50.00 price target on shares of GitLab in a research note on Tuesday, June 24th. Finally, Barclays cut their price target on shares of GitLab from $47.00 to $44.00 and set an “equal weight” rating for the company in a research note on Friday, September 5th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.83.

About GitLab

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.