Madison Asset Management LLC Purchases 49,107 Shares of GitLab Inc. $GTLB

Madison Asset Management LLC increased its position in shares of GitLab Inc. (NASDAQ:GTLB) by 81.4% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 109,461 shares of the company’s stock after purchasing an additional 49,107 shares during the period. Madison Asset Management LLC’s holdings in GitLab were worth $2,369,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of GitLab by 124.1% in the 3rd quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after purchasing an additional 309 shares in the last quarter. Quarry LP purchased a new stake in shares of GitLab in the 3rd quarter worth approximately $31,000. Lodestone Wealth Management LLC purchased a new stake in shares of GitLab in the 4th quarter worth approximately $36,000. Larson Financial Group LLC boosted its stake in shares of GitLab by 92.7% during the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in shares of GitLab during the third quarter valued at approximately $48,000. 95.04% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the sale, the director owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by company insiders.

GitLab Stock Performance

GitLab stock opened at $32.85 on Wednesday. The stock has a market cap of $5.55 billion, a PE ratio of -205.31 and a beta of 0.96. The stock has a 50-day moving average of $29.30 and a two-hundred day moving average of $27.98. GitLab Inc. has a one year low of $18.73 and a one year high of $52.38.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million for the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the previous year, the firm earned $0.17 earnings per share. The company’s revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, sell-side analysts predict that GitLab Inc. will post -0.18 EPS for the current fiscal year.

Analyst Ratings Changes

GTLB has been the subject of a number of recent research reports. Wolfe Research reissued an “outperform” rating and issued a $36.00 price objective on shares of GitLab in a research note on Wednesday, June 3rd. Rosenblatt Securities reaffirmed a “buy” rating and set a $43.00 target price on shares of GitLab in a research report on Monday, June 1st. Mizuho lifted their price target on GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Guggenheim reissued a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, DA Davidson boosted their price target on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, GitLab has an average rating of “Hold” and a consensus price target of $36.58.

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.