Carmignac Gestion Sells 363,000 Shares of GitLab Inc. $GTLB

Carmignac Gestion trimmed its stake in GitLab Inc. (NASDAQ:GTLB) by 27.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 947,000 shares of the company’s stock after selling 363,000 shares during the period. Carmignac Gestion’s holdings in GitLab were worth $20,493,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GTLB. Allworth Financial LP increased its position in shares of GitLab by 124.1% during the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after acquiring an additional 309 shares during the period. Quarry LP purchased a new stake in shares of GitLab in the third quarter valued at approximately $31,000. Fifth Third Bancorp boosted its holdings in shares of GitLab by 220.6% in the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock valued at $35,000 after purchasing an additional 1,103 shares during the period. Larson Financial Group LLC grew its stake in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after purchasing an additional 481 shares in the last quarter. Finally, Advisory Services Network LLC bought a new position in GitLab in the third quarter worth approximately $48,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $34.51 on Monday. The company has a market capitalization of $5.83 billion, a PE ratio of -215.69 and a beta of 0.94. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $52.38. The business’s fifty day simple moving average is $30.56 and its 200-day simple moving average is $27.76.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. During the same period in the prior year, the business posted $0.17 EPS. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Research analysts predict that GitLab Inc. will post -0.18 EPS for the current year.

Insider Buying and Selling

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total value of $3,304,728.00. Following the completion of the transaction, the director directly owned 14,902,051 shares in the company, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 10.64% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank Of Canada lifted their target price on GitLab from $25.00 to $29.00 and gave the company a “sector perform” rating in a research report on Wednesday, June 3rd. Needham & Company LLC increased their price target on GitLab from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Bank of America restated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. DA Davidson lifted their price objective on GitLab from $24.00 to $35.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Finally, Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, June 9th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seventeen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $36.58.

GitLab Company Profile

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.