GitLab Inc. $GTLB Shares Purchased by Blue Trust Inc.

Blue Trust Inc. increased its holdings in GitLab Inc. (NASDAQ:GTLB) by 41.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 8,468 shares of the company’s stock after buying an additional 2,473 shares during the period. Blue Trust Inc.’s holdings in GitLab were worth $382,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. IFP Advisors Inc boosted its stake in GitLab by 19.4% in the second quarter. IFP Advisors Inc now owns 5,732 shares of the company’s stock valued at $259,000 after acquiring an additional 933 shares during the period. Blair William & Co. IL boosted its stake in GitLab by 99.6% in the second quarter. Blair William & Co. IL now owns 113,745 shares of the company’s stock valued at $5,131,000 after acquiring an additional 56,769 shares during the period. Vontobel Holding Ltd. boosted its stake in GitLab by 33.6% in the second quarter. Vontobel Holding Ltd. now owns 11,758 shares of the company’s stock valued at $530,000 after acquiring an additional 2,956 shares during the period. Clear Creek Financial Management LLC acquired a new position in GitLab during the 2nd quarter valued at approximately $392,000. Finally, Castle Rock Wealth Management LLC acquired a new position in GitLab during the 2nd quarter valued at approximately $1,304,000. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $44.19 on Tuesday. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The stock has a fifty day moving average of $46.08 and a 200-day moving average of $45.72. The company has a market capitalization of $7.37 billion, a PE ratio of -1,104.75 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last announced its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The company had revenue of $236.00 million for the quarter, compared to analysts’ expectations of $227.20 million. During the same period in the prior year, the company earned $0.15 earnings per share. The company’s revenue for the quarter was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, research analysts forecast that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group reduced their price target on shares of GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Morgan Stanley boosted their target price on shares of GitLab from $56.00 to $60.00 and gave the company an “overweight” rating in a research note on Monday, October 6th. Barclays reduced their price objective on GitLab from $47.00 to $44.00 and set an “equal weight” rating for the company in a research report on Friday, September 5th. Piper Sandler reduced their price objective on GitLab from $85.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, September 4th. Finally, Zacks Research upgraded GitLab from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, GitLab currently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

Insider Activity

In related news, CAO Simon Mundy sold 5,191 shares of the stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total value of $228,352.09. Following the completion of the sale, the chief accounting officer directly owned 53,507 shares of the company’s stock, valued at approximately $2,353,772.93. This represents a 8.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 63,587 shares of the stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $50.16, for a total value of $3,189,523.92. Following the completion of the sale, the director directly owned 820 shares of the company’s stock, valued at approximately $41,131.20. This represents a 98.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,115,762 shares of company stock valued at $55,018,158 over the last ninety days. Corporate insiders own 21.36% of the company’s stock.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.