EFG Asset Management North America Corp. Acquires Shares of 26,611 GitLab Inc. $GTLB

EFG Asset Management North America Corp. acquired a new position in shares of GitLab Inc. (NASDAQ:GTLB) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 26,611 shares of the company’s stock, valued at approximately $1,199,000.

A number of other institutional investors have also modified their holdings of GTLB. LB Partners LLC acquired a new stake in shares of GitLab during the third quarter worth $944,000. iA Global Asset Management Inc. purchased a new position in GitLab during the 3rd quarter worth $6,406,000. Covestor Ltd lifted its stake in shares of GitLab by 26.0% in the 3rd quarter. Covestor Ltd now owns 5,100 shares of the company’s stock worth $230,000 after acquiring an additional 1,051 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of GitLab by 16.1% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 190,343 shares of the company’s stock valued at $8,784,000 after acquiring an additional 26,339 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of GitLab by 10.3% during the third quarter. Amalgamated Bank now owns 10,743 shares of the company’s stock worth $484,000 after acquiring an additional 1,006 shares during the period. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Stock Performance

GTLB opened at $37.32 on Wednesday. The company has a market cap of $6.28 billion, a price-to-earnings ratio of -138.22 and a beta of 0.75. GitLab Inc. has a one year low of $32.92 and a one year high of $74.18. The business’s fifty day moving average is $38.07 and its two-hundred day moving average is $43.26.

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 analysts’ consensus estimates 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 business had revenue of $244.35 million during the quarter, compared to analysts’ expectations of $239.31 million. During the same quarter last year, the business posted $0.23 earnings per share. The business’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. On average, analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GTLB. KeyCorp downgraded shares of GitLab from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, December 16th. The Goldman Sachs Group reduced their price target on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Canaccord Genuity Group restated a “buy” rating and issued a $70.00 price target on shares of GitLab in a research note on Wednesday, December 3rd. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price objective on shares of GitLab in a research report on Monday, December 1st. Finally, Macquarie lowered shares of GitLab from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, GitLab presently has a consensus rating of “Moderate Buy” and an average price target of $50.79.

Insider Activity at GitLab

In related news, CFO James Shen sold 2,538 shares of the company’s stock in a transaction that occurred on Wednesday, December 31st. The stock was sold at an average price of $38.08, for a total value of $96,647.04. Following the sale, the chief financial officer owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. This represents a 4.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $43.17, for a total value of $4,688,262.00. The SEC filing for this sale provides additional information. Insiders have sold a total of 766,644 shares of company stock valued at $30,370,356 in the last quarter. 21.36% of the stock is owned by corporate insiders.

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.