Sumitomo Mitsui Trust Group Inc. Grows Stock Holdings in GitLab Inc. $GTLB

Sumitomo Mitsui Trust Group Inc. increased its position in GitLab Inc. (NASDAQ:GTLB) by 5.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 535,833 shares of the company’s stock after buying an additional 25,473 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in GitLab were worth $11,595,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. AQR Capital Management LLC raised its holdings in GitLab by 766.3% during the fourth quarter. AQR Capital Management LLC now owns 5,433,375 shares of the company’s stock valued at $203,915,000 after acquiring an additional 4,806,163 shares during the period. Atreides Management LP boosted its stake in shares of GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock worth $177,652,000 after acquiring an additional 3,531,070 shares during the period. SG Americas Securities LLC boosted its stake in shares of GitLab by 6,528.0% in the first quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after acquiring an additional 3,088,089 shares during the period. Norges Bank purchased a new stake in shares of GitLab during the fourth quarter worth about $81,379,000. Finally, Technology Crossover Management X Ltd. raised its stake in GitLab by 491.4% during the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock valued at $72,137,000 after purchasing an additional 1,597,114 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction on 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 sale, the director owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.

GitLab Trading Down 1.5%

Shares of GitLab stock opened at $32.98 on Wednesday. The firm has a market cap of $5.57 billion, a PE ratio of -206.12 and a beta of 0.96. The stock has a 50 day moving average of $28.51 and a 200 day moving average of $28.15. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38.

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

Analysts Set New Price Targets

A number of research analysts recently commented on the company. UBS Group boosted their price target on GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday. DA Davidson lifted their price objective on shares of GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. William Blair reissued an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. Zacks Research upgraded shares of GitLab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Finally, TD Cowen reaffirmed a “hold” rating and set a $29.00 target price on shares of GitLab in a research note on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $36.96.

GitLab Company 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.