Edgestream Partners L.P. Takes Position in GitLab Inc. $GTLB

Edgestream Partners L.P. acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 47,422 shares of the company’s stock, valued at approximately $2,139,000.

A number of other institutional investors have also added to or reduced their stakes in the company. MetLife Investment Management LLC raised its position in GitLab by 3.2% during the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company’s stock valued at $365,000 after purchasing an additional 242 shares in the last quarter. Summit Global Investments boosted its holdings in shares of GitLab by 2.2% in the 2nd quarter. Summit Global Investments now owns 15,193 shares of the company’s stock worth $685,000 after purchasing an additional 331 shares in the last quarter. SBI Securities Co. Ltd. increased its position in shares of GitLab by 12.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,863 shares of the company’s stock valued at $174,000 after purchasing an additional 429 shares during the last quarter. Veracity Capital LLC raised its holdings in shares of GitLab by 7.0% during the 2nd quarter. Veracity Capital LLC now owns 8,921 shares of the company’s stock valued at $402,000 after buying an additional 584 shares in the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of GitLab by 4.5% during the 2nd quarter. New York Life Investment Management LLC now owns 13,648 shares of the company’s stock valued at $616,000 after buying an additional 590 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Stock Performance

Shares of GitLab stock opened at $37.51 on Friday. The company’s 50 day moving average price is $45.17 and its 200-day moving average price is $45.48. GitLab Inc. has a 52-week low of $35.81 and a 52-week high of $74.18. The stock has a market capitalization of $6.25 billion, a price-to-earnings ratio of -138.93 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.05. The business had revenue of $244.35 million during the quarter, compared to analysts’ expectations of $239.31 million. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.56%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company 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. As a group, equities research analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on GTLB shares. Piper Sandler reaffirmed an “overweight” rating on shares of GitLab in a research note on Wednesday. Needham & Company LLC lowered their price objective on shares of GitLab from $55.00 to $50.00 and set a “buy” rating for the company in a report on Wednesday. Mizuho set a $47.00 price objective on shares of GitLab in a research note on Wednesday. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. boosted their price target on shares of GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $53.29.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $43.17, for a total value of $4,688,262.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the business’s stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the transaction, the director directly owned 97,389 shares in the company, valued at $4,407,826.14. This trade represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 1,329,712 shares of company stock valued at $64,154,795 over the last three months. Company insiders own 16.37% of the company’s stock.

GitLab Profile

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.