CenterBook Partners LP Makes New $18.32 Million Investment in GitLab Inc. $GTLB

CenterBook Partners LP acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 488,247 shares of the company’s stock, valued at approximately $18,324,000. GitLab comprises 0.9% of CenterBook Partners LP’s investment portfolio, making the stock its 20th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP raised its holdings in GitLab by 124.1% during the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP bought a new stake in GitLab during the 3rd quarter worth about $31,000. Lodestone Wealth Management LLC bought a new stake in GitLab during the 4th quarter worth about $36,000. Larson Financial Group LLC raised its holdings in GitLab by 92.7% during the 3rd 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, Advisory Services Network LLC bought a new stake in GitLab during the 3rd quarter worth about $48,000. 95.04% of the stock is owned by institutional investors.

GitLab Price Performance

Shares of GTLB stock opened at $31.12 on Monday. The stock has a market cap of $5.29 billion, a PE ratio of -194.50 and a beta of 0.96. The stock has a 50-day moving average of $24.08 and a 200-day moving average of $30.06. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $264.16 million during 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%.GitLab’s revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, research analysts anticipate that GitLab Inc. will post -0.32 earnings per share for the current year.

Key GitLab News

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: DA Davidson issued a positive forecast for GitLab, and JPMorgan raised its price target to $32, signaling some analysts still see upside from current levels. DA Davidson Issues Positive Forecast for GitLab (NASDAQ:GTLB) Stock Price GitLab (NASDAQ:GTLB) Given New $32.00 Price Target at JPMorgan Chase & Co.
• Positive Sentiment: Coverage highlighting GitLab’s “price recovery” says the company may be well-positioned for long-term growth as its agentic AI push gains traction, especially with customers focused on compliance and security. GitLab’s Price Recovery Gains Traction—Time to Get On Board?
• Positive Sentiment: GitLab is continuing to emphasize AI strategy and shifting monetization in its Q1 deep dive, which may support the investment case if it translates into stronger enterprise demand and better revenue growth. GTLB Q1 Deep Dive: AI Strategy, Workforce Restructuring, and Shifting Monetization Shape Outlook
• Neutral Sentiment: GitLab’s Q1 results presentation and conference transcript kept attention on execution details, but these items mainly reinforced existing investor focus rather than introducing a major new catalyst. GitLab Inc. 2027 Q1 – Results – Earnings Call Presentation GitLab Inc. (GTLB) Presents at Bank of America 2026 Global Technology Conference Transcript
• Neutral Sentiment: Analyst opinions remain split, with some mixed commentary suggesting the market is still debating GitLab’s near-term valuation versus its longer-term AI opportunity. Analysts’ Opinions Are Mixed on These Technology Stocks: Gitlab (GTLB) and Nvidia (NVDA)
• Negative Sentiment: One Seeking Alpha piece argues GitLab is still not an attractive buy, reflecting ongoing concerns about valuation or execution risk. GitLab Inc.: Now Is Still Not The Time To Buy
• Negative Sentiment: GitLab cut 14% of its workforce to support its AI ambitions, a move that can improve efficiency but also signals restructuring pressure and near-term execution risk. GitLab Cuts 14% of Workforce to Fuel AI Agentic Era Ambitions

Insider Transactions at GitLab

In related news, Director Matthew Jacobson sold 459,799 shares of the business’s stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $22.37, for a total value of $10,285,703.63. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the director owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,392,308 shares of company stock valued at $31,654,249. 10.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on GTLB shares. DA Davidson boosted their price objective on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Wolfe Research reissued an “outperform” rating and set a $36.00 price objective on shares of GitLab in a report on Wednesday. Piper Sandler cut 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 report on Wednesday, March 4th. Weiss Ratings raised GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Finally, William Blair reaffirmed an “underperform” rating on shares of GitLab in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nineteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, GitLab has a consensus rating of “Hold” and a consensus price target of $36.64.

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.