ICONIQ Capital LLC Sells 2,483,621 Shares of GitLab Inc. $GTLB

ICONIQ Capital LLC reduced its stake in GitLab Inc. (NASDAQ:GTLB) by 62.4% during the third quarter, according to its most recent filing with the SEC. The fund owned 1,494,735 shares of the company’s stock after selling 2,483,621 shares during the quarter. GitLab accounts for approximately 0.8% of ICONIQ Capital LLC’s portfolio, making the stock its 16th largest holding. ICONIQ Capital LLC’s holdings in GitLab were worth $67,383,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in GitLab by 3.6% during the third quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock worth $395,000 after buying an additional 302 shares during the last quarter. Summit Global Investments boosted its stake in GitLab by 2.2% in the second quarter. Summit Global Investments now owns 15,193 shares of the company’s stock valued at $685,000 after acquiring an additional 331 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of GitLab by 20.1% during the 3rd quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock valued at $102,000 after acquiring an additional 358 shares during the period. Prostatis Group LLC grew its position in shares of GitLab by 6.5% during the 3rd quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock valued at $273,000 after acquiring an additional 368 shares during the period. Finally, Truist Financial Corp increased its stake in shares of GitLab by 1.6% during the 3rd quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock worth $1,103,000 after purchasing an additional 389 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other GitLab news, CFO James Shen sold 2,538 shares of the company’s stock in a transaction dated Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the transaction, the chief financial officer directly owned 52,284 shares in the company, valued at $1,990,974.72. This represents a 4.63% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Simon Mundy sold 2,756 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the transaction, the chief accounting officer owned 47,184 shares in the company, 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 ninety days, insiders have sold 449,444 shares of company stock worth $16,475,510. 21.36% of the stock is currently owned by corporate insiders.

GitLab Trading Down 0.6%

GitLab stock opened at $22.69 on Monday. GitLab Inc. has a 1-year low of $22.40 and a 1-year high of $54.08. The firm has a market capitalization of $3.82 billion, a PE ratio of -64.83 and a beta of 0.79. The firm’s 50 day simple moving average is $30.97 and its 200 day simple moving average is $39.63.

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

Analyst Ratings Changes

GTLB has been the topic of a number of research reports. Macquarie Infrastructure cut shares of GitLab from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $40.00 in a report on Wednesday, December 3rd. The Goldman Sachs Group decreased their target price on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. DA Davidson set a $24.00 target price on GitLab in a research note on Thursday, March 5th. Sanford C. Bernstein dropped their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a research report on Wednesday, March 4th. Finally, JPMorgan Chase & Co. increased their price target on GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, GitLab presently has an average rating of “Hold” and a consensus target price of $39.62.

About GitLab

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.