Bayforest Capital Ltd Reduces Position in GitLab Inc. $GTLB

Bayforest Capital Ltd cut its holdings in GitLab Inc. (NASDAQ:GTLB) by 95.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 957 shares of the company’s stock after selling 19,505 shares during the quarter. Bayforest Capital Ltd’s holdings in GitLab were worth $43,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in GTLB. Eminence Capital LP grew its stake in GitLab by 148.9% in the second quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock worth $280,521,000 after purchasing an additional 3,720,406 shares during the period. Atreides Management LP boosted its holdings in shares of GitLab by 867.3% during the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after acquiring an additional 3,531,070 shares during the last quarter. Champlain Investment Partners LLC grew its position in GitLab by 251.3% in 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 during the period. Norges Bank purchased a new position in GitLab in the second quarter worth about $93,489,000. Finally, HMI Capital Management L.P. grew its position in GitLab by 32.3% during 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 buying an additional 1,430,151 shares during the period. 95.04% of the stock is currently owned by institutional investors.

GitLab Stock Down 3.9%

NASDAQ:GTLB opened at $34.75 on Friday. The stock has a market capitalization of $5.85 billion, a price-to-earnings ratio of -128.70 and a beta of 0.75. GitLab Inc. has a 52 week low of $34.04 and a 52 week high of $74.18. The firm has a 50 day moving average of $39.59 and a 200 day moving average of $43.85.

GitLab (NASDAQ:GTLB) last announced 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 return on equity of 1.51% and a negative net margin of 4.70%.The firm had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. During the same period in the previous year, the business earned $0.23 EPS. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. 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, analysts expect that GitLab Inc. will post -0.31 EPS for the current year.

Insiders Place Their Bets

In other news, CFO James Shen sold 2,538 shares of the stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total transaction of $96,647.04. Following the transaction, the chief financial officer owned 52,284 shares in the company, valued at $1,990,974.72. This trade represents a 4.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Susan L. Bostrom sold 30,000 shares of GitLab stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $39.25, for a total transaction of $1,177,500.00. Following the completion of the sale, the director owned 49,819 shares in the company, valued at approximately $1,955,395.75. This trade represents a 37.59% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 766,644 shares of company stock worth $30,370,356. Corporate insiders own 16.37% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on GTLB. Barclays downgraded shares of GitLab from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $42.00 to $34.00 in a research report on Monday. BTIG Research initiated coverage on shares of GitLab in a report on Tuesday, December 16th. They issued a “buy” rating and a $52.00 target price on the stock. Wells Fargo & Company reduced their price target on shares of GitLab from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Wednesday, December 3rd. Morgan Stanley cut shares of GitLab from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $55.00 to $42.00 in a research note on Monday. Finally, Needham & Company LLC decreased their price objective on GitLab from $55.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $50.79.

GitLab 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.