Federated Hermes Inc. Buys 130,687 Shares of GitLab Inc. $GTLB

Federated Hermes Inc. increased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 22.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 721,714 shares of the company’s stock after purchasing an additional 130,687 shares during the quarter. Federated Hermes Inc. owned 0.44% of GitLab worth $32,557,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of GTLB. Marshall Wace LLP raised its position in GitLab by 9,044.9% in the 2nd quarter. Marshall Wace LLP now owns 920,253 shares of the company’s stock worth $41,513,000 after purchasing an additional 910,190 shares during the period. First Trust Advisors LP grew its stake in shares of GitLab by 8.7% during the second quarter. First Trust Advisors LP now owns 1,763,183 shares of the company’s stock valued at $79,537,000 after buying an additional 140,826 shares during the last quarter. Greenhouse Funds LLLP grew its stake in shares of GitLab by 44.0% during the second quarter. Greenhouse Funds LLLP now owns 1,264,258 shares of the company’s stock valued at $57,031,000 after buying an additional 386,332 shares during the last quarter. Granite Investment Partners LLC purchased a new stake in shares of GitLab in the second quarter worth approximately $4,032,000. Finally, Beacon Pointe Advisors LLC lifted its stake in shares of GitLab by 10.4% during the 2nd quarter. Beacon Pointe Advisors LLC now owns 51,999 shares of the company’s stock worth $2,346,000 after acquiring an additional 4,883 shares during the last quarter. 95.04% of the stock is currently owned by institutional investors.

GitLab Price Performance

Shares of GTLB stock opened at $39.02 on Wednesday. The stock’s fifty day moving average price is $44.69 and its 200 day moving average price is $45.23. GitLab Inc. has a 1-year low of $35.81 and a 1-year high of $74.18. The company has a market cap of $6.50 billion, a price-to-earnings ratio of -144.52 and a beta of 0.75.

GitLab (NASDAQ:GTLB) last released its earnings results on Tuesday, December 2nd. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.05. GitLab had a negative net margin of 4.70% and a negative return on equity of 1.51%. The company had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. During the same quarter in the previous year, the firm earned $0.23 EPS. GitLab’s revenue was up 24.6% compared to the same quarter last year. 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 anticipate that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling at GitLab

In related news, Director Matthew Jacobson sold 63,587 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.16, for a total value of $3,189,523.92. Following the completion of the sale, the director owned 820 shares of the company’s stock, valued at approximately $41,131.20. The trade was a 98.73% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $43.17, for a total transaction of $4,688,262.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,186,507 shares of company stock valued at $57,452,801 in the last three months. Company insiders own 21.36% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of GitLab in a research report on Wednesday, October 8th. Truist Financial set a $42.00 price objective on shares of GitLab in a report on Wednesday, December 3rd. JPMorgan Chase & Co. boosted their price objective on shares of GitLab from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, December 3rd. Wells Fargo & Company reduced their target price on shares of GitLab from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research report on Wednesday, December 3rd. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $70.00 price target on shares of GitLab in a report on Wednesday, December 3rd. Two 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 MarketBeat, GitLab has a consensus rating of “Moderate Buy” and an average target price of $53.29.

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.