VIRGINIA RETIREMENT SYSTEMS ET Al Takes $801,000 Position in GitLab Inc. $GTLB

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,750 shares of the company’s stock, valued at approximately $801,000.

Several other hedge funds have also recently modified their holdings of GTLB. GAMMA Investing LLC increased its holdings in shares of GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock valued at $43,000 after acquiring an additional 490 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in shares of GitLab by 5.2% during the first quarter. Janney Montgomery Scott LLC now owns 42,552 shares of the company’s stock valued at $2,000,000 after acquiring an additional 2,106 shares in the last quarter. Cambridge Investment Research Advisors Inc. acquired a new position in shares of GitLab during the first quarter valued at about $200,000. Diversified Trust Co acquired a new position in GitLab in the 1st quarter worth approximately $346,000. Finally, Westend Capital Management LLC increased its holdings in GitLab by 1.7% in the 1st quarter. Westend Capital Management LLC now owns 177,563 shares of the company’s stock worth $8,345,000 after buying an additional 2,897 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 396,147 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the transaction, the director owned 73,299 shares in the company, valued at $3,703,798.47. This trade represents a 84.39% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred on Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,224,362 shares of company stock worth $59,828,897. Corporate insiders own 16.37% of the company’s stock.

Wall Street Analyst Weigh In

GTLB has been the topic of several research reports. Mizuho downgraded shares of GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price target on the stock. in a report on Tuesday, October 7th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $60.00 price target on shares of GitLab in a report on Thursday, September 4th. Capital One Financial downgraded shares of GitLab from an “overweight” rating to an “equal weight” rating and set a $46.00 price target on the stock. in a report on Wednesday, July 16th. KeyCorp cut their price target on shares of GitLab from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price target on shares of GitLab in a report on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GitLab has an average rating of “Moderate Buy” and a consensus target price of $58.83.

GitLab Trading Up 0.9%

GitLab stock opened at $48.53 on Friday. GitLab Inc. has a 12 month low of $37.90 and a 12 month high of $74.18. The stock’s 50 day simple moving average is $47.06 and its two-hundred day simple moving average is $45.87. The firm has a market cap of $8.09 billion, a PE ratio of -1,213.25 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data 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 return on equity of 2.71% and a negative net margin of 0.55%.The company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $227.20 million. During the same quarter in the prior year, the company posted $0.15 EPS. 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. On average, equities research analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

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.