Keybank National Association OH Decreases Stock Position in GitLab Inc. $GTLB

Keybank National Association OH decreased its position in GitLab Inc. (NASDAQ:GTLB) by 65.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 249,033 shares of the company’s stock after selling 471,533 shares during the quarter. Keybank National Association OH’s holdings in GitLab were worth $5,389,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Eminence Capital LP lifted its position in shares of GitLab by 6.9% during the fourth quarter. Eminence Capital LP now owns 7,702,226 shares of the company’s stock worth $289,065,000 after purchasing an additional 494,497 shares in the last quarter. Atreides Management LP boosted its stake in shares of GitLab by 38.9% in the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after purchasing an additional 1,532,107 shares during the period. AQR Capital Management LLC grew its holdings in GitLab by 766.3% during the 4th quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock valued at $203,915,000 after purchasing an additional 4,806,163 shares in the last quarter. Franklin Resources Inc. grew its holdings in GitLab by 35.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company’s stock valued at $159,297,000 after purchasing an additional 926,824 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in GitLab by 6,528.0% during the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after buying an additional 3,088,089 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Stock Performance

GTLB stock opened at $32.07 on Friday. The stock’s 50 day simple moving average is $27.02 and its 200 day simple moving average is $28.47. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $52.38. The firm has a market cap of $5.42 billion, a P/E ratio of -200.44 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm had revenue of $264.16 million during the quarter, compared to the consensus estimate of $254.23 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The firm’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. On average, research analysts forecast that GitLab Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity

In other news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the completion of the transaction, the director directly 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 filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 348,600 shares of company stock valued at $8,605,772. Company insiders own 10.64% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GTLB shares. UBS Group boosted their price objective on shares of GitLab from $24.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Needham & Company LLC raised their target price on GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, June 3rd. Sanford C. Bernstein reiterated an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. William Blair reissued an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. Finally, Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.64.

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.