SBI Securities Co. Ltd. Sells 12,934 Shares of GitLab Inc. $GTLB

SBI Securities Co. Ltd. decreased its position in shares of GitLab Inc. (NASDAQ:GTLB) by 85.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 2,226 shares of the company’s stock after selling 12,934 shares during the quarter. SBI Securities Co. Ltd.’s holdings in GitLab were worth $105,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE raised its stake in shares of GitLab by 55.3% in the 1st quarter. Bank of America Corp DE now owns 1,955,648 shares of the company’s stock worth $42,320,000 after buying an additional 696,096 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of GitLab by 21.7% in the first quarter. California State Teachers Retirement System now owns 154,699 shares of the company’s stock valued at $3,348,000 after buying an additional 27,624 shares during the period. First Trust Advisors LP lifted its holdings in shares of GitLab by 19.7% in the first quarter. First Trust Advisors LP now owns 1,893,926 shares of the company’s stock valued at $40,985,000 after buying an additional 312,312 shares during the period. Carmignac Gestion lifted its holdings in shares of GitLab by 55.8% in the second quarter. Carmignac Gestion now owns 1,475,612 shares of the company’s stock valued at $45,050,000 after buying an additional 528,612 shares during the period. Finally, State Street Corp boosted its stake in GitLab by 3.2% during the second quarter. State Street Corp now owns 2,632,173 shares of the company’s stock valued at $80,351,000 after buying an additional 81,807 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Stock Performance

NASDAQ GTLB opened at $57.97 on Thursday. The stock has a market capitalization of $9.66 billion, a P/E ratio of -181.15 and a beta of 0.98. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $58.01. The business’s fifty day moving average is $49.57 and its two-hundred day moving average is $33.97.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.06. The business had revenue of $286.25 million during the quarter, compared to analyst estimates of $273.13 million. GitLab had a negative return on equity of 1.28% and a negative net margin of 4.99%. The company’s revenue was up 21.3% compared to the same quarter last year. During the same period last year, the company posted $0.24 EPS. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. On average, research analysts forecast that GitLab Inc. will post -0.29 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on GTLB. Truist Financial reaffirmed a “hold” rating and set a $48.00 target price (up from $40.00) on shares of GitLab in a report on Wednesday, September 2nd. Barclays boosted their price target on shares of GitLab from $25.00 to $47.00 and gave the stock an “underweight” rating in a research report on Wednesday, September 2nd. Canaccord Genuity Group upped their price target on shares of GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. TD Cowen upped their price target on shares of GitLab from $29.00 to $42.00 and gave the company a “hold” rating in a report on Thursday, August 27th. Finally, DA Davidson raised their price objective on shares of GitLab from $45.00 to $55.00 and gave the company a “neutral” rating in a research report on Wednesday, September 2nd. Seven analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, GitLab has an average rating of “Hold” and a consensus price target of $52.33.

Insider Buying and Selling

In other GitLab news, CAO Simon Mundy sold 8,725 shares of the business’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $38.00, for a total transaction of $331,550.00. Following the sale, the chief accounting officer owned 105,332 shares in the company, valued at approximately $4,002,616. The trade was a 7.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Sytse Sijbrandij sold 980,710 shares of the firm’s stock in a transaction dated Thursday, September 24th. The stock was sold at an average price of $48.63, for a total transaction of $47,691,927.30. Following the completion of the transaction, the director owned 13,921,341 shares of the company’s stock, valued at approximately $676,994,812.83. The trade was a 6.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 2,293,040 shares of company stock valued at $109,988,468. 10.64% of the stock is owned by corporate insiders.

GitLab Profile

GitLab Inc develops an integrated DevSecOps platform that helps organizations plan, create, secure, deploy and monitor software. Its platform brings source code management, project planning, continuous integration and continuous delivery, application security, compliance, and observability capabilities into a single application.

GitLab’s products are designed to support software development teams throughout the application lifecycle. Key offerings include repositories and collaboration tools, automated testing and deployment, vulnerability management, security testing, infrastructure and portfolio management, and artificial intelligence features intended to assist developers and other technology professionals.

Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, GitLab operates as an all-remote company and serves organizations globally across a range of industries and sizes.