Amalgamated Bank Boosts Stock Holdings in GitLab Inc. $GTLB

Amalgamated Bank lifted its holdings in GitLab Inc. (NASDAQ:GTLB) by 14.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 9,737 shares of the company’s stock after purchasing an additional 1,200 shares during the period. Amalgamated Bank’s holdings in GitLab were worth $439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GTLB. MetLife Investment Management LLC raised its stake in GitLab by 3.2% in the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company’s stock worth $365,000 after buying an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock valued at $25,000 after acquiring an additional 334 shares during the period. Veracity Capital LLC raised its position in shares of GitLab by 7.0% in the 2nd quarter. Veracity Capital LLC now owns 8,921 shares of the company’s stock worth $402,000 after acquiring an additional 584 shares in the last quarter. New York Life Investment Management LLC raised its position in shares of GitLab by 4.5% in the 2nd quarter. New York Life Investment Management LLC now owns 13,648 shares of the company’s stock worth $616,000 after acquiring an additional 590 shares in the last quarter. Finally, Twin Tree Management LP purchased a new stake in shares of GitLab during the 1st quarter worth $29,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GTLB shares. Wells Fargo & Company assumed coverage on GitLab in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 target price on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $58.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Canaccord Genuity Group reduced their price objective on shares of GitLab from $76.00 to $70.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Raymond James Financial lowered their target price on shares of GitLab from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Finally, KeyCorp reduced their price target on GitLab from $60.00 to $53.00 and set an “overweight” rating on the stock in a research report on Thursday, September 4th. Two analysts have rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $58.83.

Insider Buying and Selling at GitLab

In other news, CAO Simon Mundy sold 5,191 shares of the stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $43.99, for a total value of $228,352.09. Following the sale, the chief accounting officer owned 53,507 shares in the company, valued at $2,353,772.93. This represents a 8.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Matthew Jacobson sold 63,587 shares of the firm’s stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $50.16, for a total transaction of $3,189,523.92. Following the transaction, the director directly owned 820 shares of the company’s stock, valued at approximately $41,131.20. This trade represents a 98.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,224,362 shares of company stock valued at $59,828,897 over the last quarter. Insiders own 16.37% of the company’s stock.

GitLab Stock Down 0.0%

Shares of NASDAQ:GTLB opened at $45.55 on Friday. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of -1,138.75 and a beta of 0.74. The business has a 50-day moving average price of $47.44 and a 200-day moving average price of $46.24.

GitLab (NASDAQ:GTLB) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). GitLab had a negative net margin of 0.55% and a negative return on equity of 2.71%. The firm had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $227.20 million. During the same quarter in the prior year, the company earned $0.15 EPS. GitLab’s quarterly revenue was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, equities analysts anticipate that GitLab Inc. will post -0.31 EPS for the current fiscal year.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.