Hidden Lake Asset Management LP Invests $3.76 Million in GitLab Inc. $GTLB

Hidden Lake Asset Management LP acquired a new stake in GitLab Inc. (NASDAQ:GTLB) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 83,468 shares of the company’s stock, valued at approximately $3,763,000. GitLab accounts for about 0.5% of Hidden Lake Asset Management LP’s holdings, making the stock its 28th biggest position.

Other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. raised its position in GitLab by 1.6% in the first quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after acquiring an additional 12,200 shares in the last quarter. Woodline Partners LP acquired a new position in shares of GitLab in the 1st quarter worth approximately $314,000. Campbell & CO Investment Adviser LLC bought a new stake in shares of GitLab in the 2nd quarter worth approximately $234,000. SBI Securities Co. Ltd. raised its holdings in shares of GitLab by 12.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,863 shares of the company’s stock worth $174,000 after purchasing an additional 429 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in GitLab by 37.7% during the second quarter. PNC Financial Services Group Inc. now owns 9,130 shares of the company’s stock valued at $412,000 after purchasing an additional 2,502 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 0.6%

Shares of GTLB stock opened at $22.69 on Monday. The company has a market capitalization of $3.82 billion, a price-to-earnings ratio of -64.83 and a beta of 0.79. GitLab Inc. has a 1-year low of $22.40 and a 1-year high of $54.08. The stock’s fifty day simple moving average is $30.97 and its 200-day simple moving average is $39.63.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. During the same period last year, the company posted $0.33 EPS. The business’s quarterly revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 334,827 shares of GitLab stock in a transaction on Friday, December 19th. The shares were sold at an average price of $38.08, for a total transaction of $12,750,212.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Simon Mundy sold 2,756 shares of the business’s stock in a transaction on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total transaction of $105,885.52. Following the transaction, the chief accounting officer owned 47,184 shares in the company, valued at approximately $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 449,444 shares of company stock valued at $16,475,510. Company insiders own 21.36% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GTLB shares. BTIG Research reduced their target price on shares of GitLab from $32.00 to $30.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. TD Cowen cut GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price on the stock. in a report on Monday, March 2nd. Wells Fargo & Company reduced their target price on GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a report on Wednesday, March 4th. Truist Financial dropped their price target on GitLab from $35.00 to $25.00 and set a “hold” rating on the stock in a research note on Wednesday, March 4th. Finally, Mizuho reduced their price objective on shares of GitLab from $37.00 to $30.00 and set a “neutral” rating for the company in a research note on Wednesday, March 4th. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, GitLab currently has an average rating of “Hold” and an average price target of $39.62.

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.