Technology Crossover Management X Ltd. Boosts Stock Holdings in GitLab Inc. $GTLB

Technology Crossover Management X Ltd. raised its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 491.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,922,114 shares of the company’s stock after buying an additional 1,597,114 shares during the period. GitLab accounts for approximately 7.2% of Technology Crossover Management X Ltd.’s portfolio, making the stock its 4th biggest holding. Technology Crossover Management X Ltd.’s holdings in GitLab were worth $72,137,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WINTON GROUP Ltd bought a new position in GitLab during the third quarter valued at about $5,739,000. Penserra Capital Management LLC raised its holdings in GitLab by 740.7% during the third quarter. Penserra Capital Management LLC now owns 88,556 shares of the company’s stock valued at $3,991,000 after buying an additional 78,023 shares in the last quarter. Light Street Capital Management LLC raised its holdings in GitLab by 79.2% during the third quarter. Light Street Capital Management LLC now owns 850,000 shares of the company’s stock valued at $38,318,000 after buying an additional 375,585 shares in the last quarter. Eminence Capital LP raised its holdings in GitLab by 15.9% during the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock valued at $324,924,000 after buying an additional 989,122 shares in the last quarter. Finally, iA Global Asset Management Inc. bought a new position in shares of GitLab in the third quarter worth about $6,406,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Down 4.0%

Shares of GTLB opened at $25.62 on Friday. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $52.38. The firm has a market capitalization of $4.36 billion, a price-to-earnings ratio of -73.20 and a beta of 0.82. The stock’s 50-day moving average price is $22.51 and its 200 day moving average price is $31.33.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The firm had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. During the same period in the previous year, the company posted $0.33 earnings per share. The company’s quarterly revenue was up 23.2% compared to the same quarter last year. Equities research analysts expect that GitLab Inc. will post -0.28 EPS for the current year.

Analyst Upgrades and Downgrades

GTLB has been the topic of a number of recent analyst reports. Barclays dropped their price objective on GitLab from $29.00 to $25.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 4th. Morgan Stanley dropped their price objective on GitLab from $38.00 to $29.00 and set a “cautious” rating on the stock in a research note on Monday, March 9th. TD Cowen lowered GitLab from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a research note on Monday, March 2nd. Piper Sandler lowered GitLab from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $55.00 to $28.00 in a research note on Wednesday, March 4th. Finally, UBS Group lowered GitLab from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $44.00 to $24.00 in a research note on Thursday, April 16th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eighteen have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $37.08.

Insider Activity

In related news, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the transaction, the director directly owned 325 shares in the company, valued at $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the transaction, the director owned 15,018,251 shares in the company, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,392,308 shares of company stock worth $31,654,249 over the last 90 days. Corporate insiders own 10.64% of the company’s stock.

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.