Wellington Management Group LLP Invests $10.05 Million in GitLab Inc. $GTLB

Wellington Management Group LLP bought a new stake in GitLab Inc. (NASDAQ:GTLB) during the 2nd quarter, Holdings Channel reports. The firm bought 329,077 shares of the company’s stock, valued at approximately $10,047,000.

A number of other large investors also recently bought and sold shares of GTLB. Archer Investment Corp acquired a new stake in shares of GitLab in the 2nd quarter worth $316,000. Beacon Pointe Advisors LLC increased its stake in shares of GitLab by 119.8% during the second quarter. Beacon Pointe Advisors LLC now owns 23,396 shares of the company’s stock worth $714,000 after acquiring an additional 12,751 shares during the period. Corient Private Wealth LP purchased a new position in GitLab during the second quarter worth about $250,000. Atreides Management LP acquired a new stake in GitLab in the second quarter valued at about $102,983,000. Finally, Bank of America Corp DE increased its position in GitLab by 1.6% during the 2nd quarter. Bank of America Corp DE now owns 1,987,140 shares of the company’s stock worth $60,667,000 after purchasing an additional 31,492 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Stock Down 5.4%

NASDAQ:GTLB opened at $47.15 on Wednesday. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $55.55. The stock has a fifty day simple moving average of $38.07 and a 200-day simple moving average of $29.53. The company has a market capitalization of $7.96 billion, a PE ratio of -147.34 and a beta of 0.99.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, September 1st. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.06. GitLab had a negative net margin of 4.99% and a negative return on equity of 1.28%. The firm had revenue of $286.25 million for the quarter, compared to analysts’ expectations of $273.13 million. During the same period in the prior year, the company earned $0.24 EPS. The firm’s revenue was up 21.3% on a year-over-year basis. GitLab has set its FY 2027 guidance at 0.850-0.870 EPS and its Q3 2027 guidance at 0.190-0.200 EPS. As a group, equities analysts anticipate that GitLab Inc. will post -0.27 earnings per share for the current year.

Insider Activity at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the sale, the director owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. This represents a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Simon Mundy sold 8,725 shares of the stock in a transaction on Friday, August 7th. The shares were sold at an average price of $38.00, for a total value of $331,550.00. Following the sale, the chief accounting officer owned 105,332 shares in the company, valued at approximately $4,002,616. This trade represents a 7.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. TD Cowen upped their price objective on GitLab from $29.00 to $42.00 and gave the stock a “hold” rating in a report on Thursday, August 27th. Zacks Research downgraded shares of GitLab from a “strong-buy” rating to a “hold” rating in a report on Monday, August 3rd. Canaccord Genuity Group raised their price objective on shares of GitLab from $40.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, September 2nd. Truist Financial restated a “hold” rating and set a $48.00 target price (up from $40.00) on shares of GitLab in a research report on Wednesday, September 2nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of GitLab in a research report on Wednesday, September 2nd. Seven investment analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, GitLab presently has a consensus rating of “Hold” and an average target price of $51.75.

About GitLab

GitLab Inc (NASDAQ: GTLB) is a leading provider of a unified DevOps platform designed to streamline the software development lifecycle. Founded in 2011 by Dmitriy Zaporozhets and Sid Sijbrandij, the company initially gained recognition for its open-source Git repository manager. Over time, GitLab expanded its offerings to encompass planning, source code management, continuous integration/continuous deployment (CI/CD), security testing, and monitoring in a single application. This integrated approach enables development teams to collaborate efficiently, reduce toolchain complexity, and accelerate release cycles.

The GitLab platform is offered through both cloud-hosted and self-managed deployment models, catering to organizations of all sizes.