New York State Common Retirement Fund Cuts Stock Position in GitLab Inc. $GTLB

New York State Common Retirement Fund decreased its holdings in GitLab Inc. (NASDAQ:GTLB) by 32.2% in the 3rd quarter, HoldingsChannel reports. The firm owned 344,264 shares of the company’s stock after selling 163,500 shares during the quarter. New York State Common Retirement Fund’s holdings in GitLab were worth $15,519,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Eminence Capital LP boosted its position in GitLab by 148.9% in the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock valued at $280,521,000 after buying an additional 3,720,406 shares during the period. HMI Capital Management L.P. boosted its holdings in GitLab by 32.3% in the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock valued at $264,283,000 after purchasing an additional 1,430,151 shares during the period. Champlain Investment Partners LLC grew its stake in GitLab by 251.3% during the 2nd quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock worth $203,545,000 after purchasing an additional 3,227,717 shares in the last quarter. Atreides Management LP increased its holdings in GitLab by 867.3% during the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock worth $177,652,000 after purchasing an additional 3,531,070 shares during the period. Finally, ARK Investment Management LLC raised its position in GitLab by 35.7% in the 2nd quarter. ARK Investment Management LLC now owns 3,292,685 shares of the company’s stock valued at $148,533,000 after purchasing an additional 866,353 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Trading Up 1.0%

Shares of NASDAQ:GTLB opened at $35.34 on Monday. GitLab Inc. has a 1 year low of $32.92 and a 1 year high of $74.04. The firm has a fifty day moving average price of $37.67 and a 200 day moving average price of $43.11. The stock has a market capitalization of $5.95 billion, a PE ratio of -130.89 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, December 2nd. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.20 by $0.05. The firm had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The business’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 EPS. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. On average, sell-side analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Susan L. Bostrom sold 30,000 shares of the stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $39.25, for a total value of $1,177,500.00. Following the completion of the transaction, the director directly owned 49,819 shares of the company’s stock, valued at approximately $1,955,395.75. This represents a 37.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Simon Mundy sold 2,756 shares of the company’s stock in a transaction dated Thursday, December 18th. The stock was sold at an average price of $38.42, for a total transaction of $105,885.52. Following the completion of the sale, the chief accounting officer directly owned 47,184 shares in the company, valued at approximately $1,812,809.28. The trade was a 5.52% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 766,644 shares of company stock valued at $30,370,356 over the last 90 days. Company insiders own 21.36% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on GTLB. JPMorgan Chase & Co. boosted their price objective on GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 3rd. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 8th. Morgan Stanley cut shares of GitLab from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $55.00 to $42.00 in a research report on Monday, January 12th. Cantor Fitzgerald lowered GitLab from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $60.00 to $40.00 in a report on Wednesday, January 7th. Finally, Royal Bank Of Canada cut their price target on GitLab from $58.00 to $48.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, eleven have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

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.