Northwestern Mutual Wealth Management Co. Purchases 224,813 Shares of GitLab Inc. $GTLB

Northwestern Mutual Wealth Management Co. lifted its holdings in GitLab Inc. (NASDAQ:GTLB) by 39.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 791,581 shares of the company’s stock after purchasing an additional 224,813 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in GitLab were worth $35,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GTLB. Champlain Investment Partners LLC boosted its holdings in GitLab by 251.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock valued at $203,545,000 after purchasing an additional 3,227,717 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of GitLab by 2,456.8% in the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company’s stock valued at $107,865,000 after buying an additional 2,205,238 shares during the period. Jupiter Asset Management Ltd. bought a new position in GitLab during the second quarter valued at about $60,268,000. ARK Investment Management LLC increased its stake in GitLab by 35.7% during the second quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after acquiring an additional 866,353 shares during the period. Finally, Driehaus Capital Management LLC acquired a new position in GitLab in the 1st quarter valued at approximately $39,976,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In other GitLab news, CAO Simon Mundy sold 5,191 shares of the business’s stock in a transaction on Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total value of $228,352.09. Following the transaction, the chief accounting officer owned 53,507 shares of the company’s stock, valued at approximately $2,353,772.93. The trade was a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $50.14, for a total value of $5,445,204.00. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 1,329,712 shares of company stock worth $64,154,795. 16.37% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GTLB shares. Wells Fargo & Company began coverage on shares of GitLab in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $55.00 target price on shares of GitLab in a research note on Thursday, September 4th. UBS Group dropped their price target on shares of GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, September 4th. BTIG Research cut their price target on shares of GitLab from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Finally, Mizuho lowered GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 7th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, GitLab currently has a consensus rating of “Moderate Buy” and an average target price of $57.87.

GitLab Trading Up 1.4%

Shares of GitLab stock opened at $41.12 on Friday. The stock has a market capitalization of $6.85 billion, a price-to-earnings ratio of -1,028.00 and a beta of 0.74. The firm’s 50-day moving average price is $45.82 and its two-hundred day moving average price is $45.77. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18.

GitLab (NASDAQ:GTLB) last posted its earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The firm had revenue of $236.00 million during the quarter, compared to the consensus estimate of $227.20 million. GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The business’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. 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, equities research analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

About GitLab

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.