Leonteq Securities AG Invests $3.33 Million in GitLab Inc. $GTLB

Leonteq Securities AG purchased a new stake in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, Holdings Channel.com reports. The firm purchased 88,837 shares of the company’s stock, valued at approximately $3,334,000.

A number of other institutional investors have also made changes to their positions in the business. Allworth Financial LP raised its holdings in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in shares of GitLab by 20.1% in the third quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock valued at $102,000 after buying an additional 358 shares during the last quarter. Prostatis Group LLC raised its holdings in shares of GitLab by 6.5% in the third quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock valued at $273,000 after buying an additional 368 shares during the last quarter. Truist Financial Corp raised its holdings in shares of GitLab by 1.6% in the third quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock valued at $1,103,000 after buying an additional 389 shares during the last quarter. Finally, Clearstead Advisors LLC raised its holdings in shares of GitLab by 35.2% in the third quarter. Clearstead Advisors LLC now owns 1,747 shares of the company’s stock valued at $79,000 after buying an additional 455 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GTLB shares. William Blair reaffirmed an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. UBS Group cut GitLab from a “buy” rating to a “neutral” rating and cut their price target for the company from $44.00 to $24.00 in a report on Thursday, April 16th. Bank of America cut GitLab from a “buy” rating to a “neutral” rating and cut their price target for the company from $58.00 to $27.00 in a report on Wednesday, April 22nd. Royal Bank Of Canada cut GitLab from an “outperform” rating to a “sector perform” rating and cut their price target for the company from $33.00 to $25.00 in a report on Monday, April 20th. Finally, Canaccord Genuity Group cut their price target on GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eighteen have assigned a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, GitLab presently has a consensus rating of “Hold” and an average target price of $37.08.

Insider Activity

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the completion of the transaction, the director directly owned 15,018,251 shares in the company, valued at approximately $373,203,537.35. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 700,109 shares of the business’s stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $22.95, for a total value of $16,067,501.55. Following the transaction, the director owned 325 shares of the company’s stock, valued at $7,458.75. The trade was a 99.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,392,308 shares of company stock valued at $31,654,249 over the last 90 days. Corporate insiders own 10.64% of the company’s stock.

GitLab Stock Up 4.9%

Shares of GTLB stock opened at $26.70 on Thursday. The stock has a 50-day moving average price of $22.46 and a 200 day moving average price of $31.49. The firm has a market cap of $4.54 billion, a price-to-earnings ratio of -76.29 and a beta of 0.82. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38.

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. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the company earned $0.33 earnings per share. Sell-side analysts predict that GitLab Inc. will post -0.28 earnings per share for the current fiscal year.

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.