First Trust Advisors LP Raises Stake in GitLab Inc. $GTLB

First Trust Advisors LP lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 19.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,893,926 shares of the company’s stock after purchasing an additional 312,312 shares during the quarter. First Trust Advisors LP’s holdings in GitLab were worth $40,985,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Allworth Financial LP lifted its stake 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 purchasing an additional 309 shares during the period. Quarry LP acquired a new position in GitLab during the third quarter worth about $31,000. Fifth Third Bancorp grew its position in GitLab by 220.6% during the first quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock worth $35,000 after buying an additional 1,103 shares during the period. Lodestone Wealth Management LLC purchased a new position in GitLab in the fourth quarter valued at about $36,000. Finally, Larson Financial Group LLC increased its holdings in GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after buying an additional 481 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on GTLB. DA Davidson boosted their price target on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a research note on Monday, June 29th. BTIG Research reaffirmed a “buy” rating and issued a $36.00 price objective on shares of GitLab in a research note on Thursday, June 11th. Weiss Ratings raised GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 3rd. Finally, Needham & Company LLC boosted their target price on GitLab from $32.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $36.58.

Insider Buying and Selling at GitLab

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction on Monday, June 15th. The stock was 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 of the company’s stock, valued at $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by company insiders.

GitLab Trading Up 5.1%

Shares of GTLB opened at $32.88 on Tuesday. The stock has a market cap of $5.55 billion, a P/E ratio of -205.50 and a beta of 0.96. The company has a 50-day moving average of $29.95 and a two-hundred day moving average of $27.82. 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 results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The company’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, analysts forecast that GitLab Inc. will post -0.18 EPS for the current fiscal year.

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.