Primecap Management Co. CA Sells 28,900 Shares of GitLab Inc. $GTLB

Primecap Management Co. CA lowered its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 3.6% during the 3rd quarter, HoldingsChannel reports. The fund owned 775,640 shares of the company’s stock after selling 28,900 shares during the period. Primecap Management Co. CA’s holdings in GitLab were worth $34,966,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in GTLB. Farther Finance Advisors LLC raised its stake in shares of GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after purchasing an additional 671 shares during the period. Global Retirement Partners LLC boosted its stake in GitLab by 84.1% in the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock worth $44,000 after purchasing an additional 445 shares during the period. Manchester Capital Management LLC purchased a new position in GitLab during the 2nd quarter valued at about $48,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of GitLab during the second quarter valued at about $56,000. Finally, Elevation Point Wealth Partners LLC purchased a new stake in shares of GitLab in the second quarter worth about $63,000. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other 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 completion of the transaction, the chief financial officer directly owned 52,284 shares in the company, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 334,827 shares of the stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $38.08, for a total value of $12,750,212.16. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 603,744 shares of company stock valued at $22,536,495. 16.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. KeyCorp lowered shares of GitLab from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, December 16th. Morgan Stanley set a $38.00 target price on shares of GitLab in a research note on Thursday, February 19th. Cantor Fitzgerald downgraded shares of GitLab from an “overweight” rating to a “neutral” rating and cut their price target for the company from $60.00 to $40.00 in a report on Wednesday, January 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of GitLab in a report on Monday, December 22nd. Finally, Truist Financial set a $35.00 price objective on GitLab in a research note on Thursday, February 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $48.75.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $27.89 on Friday. The company’s fifty day moving average price is $33.83 and its 200-day moving average price is $41.11. The firm has a market capitalization of $4.70 billion, a price-to-earnings ratio of -103.30 and a beta of 0.75. GitLab Inc. has a one year low of $23.45 and a one year high of $64.42.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.05. The company had revenue of $244.35 million during the quarter, compared to the consensus estimate of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The firm’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 EPS. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. As a group, equities research analysts expect that GitLab Inc. will post -0.31 EPS for the current year.

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.