Pacer Advisors Inc. Acquires 460,887 Shares of GitLab Inc. $GTLB

Pacer Advisors Inc. lifted its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 117.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 854,928 shares of the company’s stock after buying an additional 460,887 shares during the period. Pacer Advisors Inc.’s holdings in GitLab were worth $18,501,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of GTLB. Goldman Sachs Group Inc. raised its stake in shares of GitLab by 1.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 776,521 shares of the company’s stock worth $36,496,000 after purchasing an additional 12,200 shares in the last quarter. Woodline Partners LP bought a new position in shares of GitLab in the first quarter valued at $314,000. Russell Investments Group Ltd. increased its holdings in GitLab by 31.6% during the second quarter. Russell Investments Group Ltd. now owns 7,112 shares of the company’s stock worth $321,000 after buying an additional 1,709 shares during the last quarter. California Public Employees Retirement System increased its holdings in GitLab by 17.0% during the second quarter. California Public Employees Retirement System now owns 167,870 shares of the company’s stock worth $7,573,000 after buying an additional 24,448 shares during the last quarter. Finally, State Street Corp increased its holdings in GitLab by 7.0% during the second quarter. State Street Corp now owns 2,283,597 shares of the company’s stock worth $103,013,000 after buying an additional 148,713 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on GTLB shares. Guggenheim reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. Sanford C. Bernstein restated an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. Needham & Company LLC upped their target price on shares of GitLab from $32.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, June 3rd. Raymond James Financial reiterated a “market perform” rating on shares of GitLab in a research note on Tuesday, May 19th. Finally, UBS Group lifted their price target on GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $36.58.

GitLab Price Performance

Shares of GitLab stock opened at $36.48 on Wednesday. The business has a fifty day simple moving average of $30.93 and a two-hundred day simple moving average of $27.76. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of -228.00 and a beta of 0.94.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. 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 previous year, the business posted $0.17 earnings per share. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, equities analysts anticipate that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the sale, the director owned 14,902,051 shares of the company’s stock, valued at approximately $423,814,330.44. The trade was a 0.77% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible 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.

GitLab 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.