Nikko Asset Management Americas Inc. Boosts Stock Position in GitLab Inc. $GTLB

Nikko Asset Management Americas Inc. grew its holdings in GitLab Inc. (NASDAQ:GTLB) by 46.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,041,331 shares of the company’s stock after purchasing an additional 644,718 shares during the period. Nikko Asset Management Americas Inc. owned about 1.24% of GitLab worth $92,023,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in GTLB. PNC Financial Services Group Inc. grew its holdings in shares of GitLab by 192.9% in the first quarter. PNC Financial Services Group Inc. now owns 6,628 shares of the company’s stock worth $312,000 after purchasing an additional 4,365 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in GitLab by 2.5% in the first quarter. Charles Schwab Investment Management Inc. now owns 811,928 shares of the company’s stock worth $38,161,000 after purchasing an additional 19,834 shares in the last quarter. Deutsche Bank AG increased its holdings in GitLab by 12.0% during the 1st quarter. Deutsche Bank AG now owns 70,571 shares of the company’s stock worth $3,317,000 after purchasing an additional 7,542 shares during the period. Swiss National Bank raised its position in GitLab by 1.8% during the 1st quarter. Swiss National Bank now owns 218,800 shares of the company’s stock valued at $10,284,000 after purchasing an additional 3,800 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of GitLab by 22.0% in the 1st quarter. Invesco Ltd. now owns 1,603,520 shares of the company’s stock worth $75,365,000 after buying an additional 289,683 shares during the period. 95.04% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GTLB has been the topic of several research reports. UBS Group set a $42.00 price target on GitLab in a research note on Wednesday, December 3rd. Weiss Ratings reissued a “sell (e+)” rating on shares of GitLab in a research report on Wednesday, October 8th. FBN Securities upgraded shares of GitLab to a “strong-buy” rating in a report on Thursday, September 4th. BTIG Research lowered their price target on shares of GitLab from $57.00 to $52.00 and set a “buy” rating for the company in a research report on Wednesday, December 3rd. Finally, Raymond James Financial cut their price objective on shares of GitLab from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and an average price target of $53.29.

Insider Buying and Selling

In other GitLab news, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $45.26, for a total value of $147,095.00. Following the completion of the sale, the director owned 97,389 shares of the company’s stock, valued at approximately $4,407,826.14. This trade represents a 3.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $43.17, for a total transaction of $4,688,262.00. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,286,507 shares of company stock valued at $61,398,801 in the last 90 days. 16.37% of the stock is owned by insiders.

GitLab Stock Down 2.9%

NASDAQ GTLB opened at $39.52 on Friday. GitLab Inc. has a 52 week low of $35.81 and a 52 week high of $74.18. The company has a 50 day moving average price of $44.36 and a 200 day moving average price of $45.09. The firm has a market cap of $6.66 billion, a PE ratio of -146.37 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.05. The business had revenue of $244.35 million for the quarter, compared to analyst estimates of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.23 earnings per share. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, equities research analysts anticipate that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

GitLab 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.