GitLab Inc. $GTLB Stock Holdings Increased by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 38.1% during the 3rd quarter, Holdings Channel reports. The firm owned 1,969,472 shares of the company’s stock after acquiring an additional 543,451 shares during the quarter. Pictet Asset Management Holding SA’s holdings in GitLab were worth $93,058,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Tsfg LLC acquired a new position in GitLab during the 2nd quarter valued at approximately $31,000. Fifth Third Bancorp raised its holdings in shares of GitLab by 220.6% in the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of GitLab in the third quarter worth $35,000. Versant Capital Management Inc lifted its stake in shares of GitLab by 300.6% during the second quarter. Versant Capital Management Inc now owns 1,867 shares of the company’s stock worth $57,000 after buying an additional 1,401 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of GitLab by 60.4% during the second quarter. GAMMA Investing LLC now owns 2,769 shares of the company’s stock worth $85,000 after buying an additional 1,043 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their price objective on shares of GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Weiss Ratings cut GitLab from a “sell (d)” rating to a “sell (e+)” rating in a research report on Wednesday, September 2nd. UBS Group set a $64.00 price target on GitLab in a research note on Friday, October 23rd. Piper Sandler boosted their price target on GitLab from $28.00 to $52.00 and gave the company a “neutral” rating in a research note on Wednesday, September 2nd. Finally, BTIG Research increased their price objective on GitLab from $52.00 to $60.00 and gave the company a “buy” rating in a report on Wednesday, September 2nd. Seven equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, GitLab currently has a consensus rating of “Hold” and an average price target of $52.33.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $47.12 on Tuesday. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $58.01. The company has a 50 day simple moving average of $50.98 and a two-hundred day simple moving average of $34.64.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.18 by $0.06. The business had revenue of $286.25 million for the quarter, compared to the consensus estimate of $273.13 million. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The business’s revenue for the quarter was up 21.3% on a year-over-year basis. During the same period in the prior year, the firm earned $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. Equities research analysts forecast that GitLab Inc. will post -0.29 earnings per share for the current year.

Insider Buying and Selling at GitLab

In related news, CTO Sivaprasad Padisetty sold 51,915 shares of the business’s stock in a transaction on Monday, September 28th. The shares were sold at an average price of $45.78, for a total transaction of $2,376,668.70. Following the completion of the transaction, the chief technology officer directly owned 377,211 shares in the company, valued at $17,268,719.58. The trade was a 12.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at 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 business’s stock in a transaction on Thursday, September 24th. The shares were sold at an average price of $48.63, for a total transaction of $47,691,927.30. Following the transaction, the director owned 13,921,341 shares of the company’s stock, valued at $676,994,812.83. This represents a 6.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 2,284,315 shares of company stock valued at $109,656,918. 10.64% of the stock is currently owned by corporate insiders.

GitLab Company Profile

GitLab Inc develops a software platform that helps organizations manage the software development lifecycle. Its tools support planning, source-code management, collaboration, continuous integration and delivery, security testing, and application monitoring.

The GitLab platform brings these capabilities together in a single application, available as a cloud-hosted service or for customers to install and manage in their own environments. The company serves organizations in a range of industries and geographies, from individual developers to large enterprises.

GitLab began as an open-source project in 2011, created by Dmitriy Zaporozhets and later developed with co-founder Sid Sijbrandij.