Greenhouse Funds LLLP Sells 183,695 Shares of GitLab Inc. $GTLB

Greenhouse Funds LLLP decreased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 14.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,080,563 shares of the company’s stock after selling 183,695 shares during the period. GitLab comprises 1.8% of Greenhouse Funds LLLP’s portfolio, making the stock its 27th largest holding. Greenhouse Funds LLLP owned about 0.65% of GitLab worth $48,712,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in GitLab by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock valued at $36,496,000 after buying an additional 12,200 shares during the last quarter. Woodline Partners LP purchased a new position in shares of GitLab in the 1st quarter worth $314,000. Bank of Montreal Can grew its holdings in shares of GitLab by 146.9% in the second quarter. Bank of Montreal Can now owns 27,823 shares of the company’s stock worth $1,255,000 after acquiring an additional 16,552 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of GitLab by 6.2% in the second quarter. Bank of New York Mellon Corp now owns 678,598 shares of the company’s stock worth $30,612,000 after acquiring an additional 39,550 shares during the period. Finally, Penserra Capital Management LLC increased its position in GitLab by 11.6% during the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock valued at $475,000 after acquiring an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on GTLB. Canaccord Genuity Group lowered their target price on GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Mizuho cut their price target on GitLab from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. DA Davidson set a $24.00 price target on shares of GitLab in a research report on Thursday, March 5th. Zacks Research cut shares of GitLab from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 2nd. Finally, Wells Fargo & Company dropped their price objective on shares of GitLab from $45.00 to $26.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 4th. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, GitLab has a consensus rating of “Hold” and a consensus target price of $39.62.

Insider Activity

In other news, CAO Simon Mundy sold 2,756 shares of the stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the sale, the chief accounting officer directly owned 47,184 shares of the company’s stock, valued at $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Sytse Sijbrandij sold 54,300 shares of GitLab stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 503,744 shares of company stock worth $18,590,495 in the last quarter. 16.37% of the stock is currently owned by insiders.

GitLab Stock Performance

NASDAQ:GTLB opened at $23.16 on Thursday. The stock has a 50-day simple moving average of $31.53 and a two-hundred day simple moving average of $39.99. GitLab Inc. has a 52-week low of $22.77 and a 52-week high of $54.61. The firm has a market capitalization of $3.90 billion, a PE ratio of -66.17 and a beta of 0.79.

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