Amova Asset Management Americas Inc. Sells 278,130 Shares of GitLab Inc. $GTLB

Amova Asset Management Americas Inc. decreased its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 13.6% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 1,763,201 shares of the company’s stock after selling 278,130 shares during the period. Amova Asset Management Americas Inc. owned 1.06% of GitLab worth $79,450,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of GitLab during the 3rd quarter valued at $2,029,000. Nordea Investment Management AB boosted its stake in GitLab by 85.5% during the third quarter. Nordea Investment Management AB now owns 1,132,977 shares of the company’s stock valued at $51,392,000 after buying an additional 522,075 shares during the period. 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 worth $264,283,000 after buying an additional 1,430,151 shares in the last quarter. Penserra Capital Management LLC increased its stake in GitLab by 740.7% in the 3rd quarter. Penserra Capital Management LLC now owns 88,556 shares of the company’s stock worth $3,991,000 after acquiring an additional 78,023 shares during the last quarter. Finally, iA Global Asset Management Inc. purchased a new stake in shares of GitLab in the 3rd quarter valued at about $6,406,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Trading Down 6.2%

Shares of NASDAQ:GTLB opened at $25.05 on Thursday. The stock has a market capitalization of $4.22 billion, a P/E ratio of -71.57 and a beta of 0.79. The stock’s 50-day moving average price is $32.89 and its 200-day moving average price is $40.70. GitLab Inc. has a 12-month low of $23.10 and a 12-month high of $64.42.

GitLab (NASDAQ:GTLB) last issued its earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.23 by $0.07. The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.33 EPS. As a group, research analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

Key Stories Impacting GitLab

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: Q4 results beat expectations — revenue grew ~23% YoY and adjusted EPS topped consensus, showing strong SaaS growth and improved operating margins. Read More.
• Positive Sentiment: Shareholder-friendly moves — board authorized up to $400M for repurchases and management flagged surpassing $1B ARR, both supportive of per‑share value and a potential buying catalyst on dips. Read More.
• Positive Sentiment: Bull case on AI and cash flow — bullish analysts/commentary argue the sell‑off is overdone, citing GitLab’s AI roadmap, cash flow, and institutional ownership as a setup for a rebound once uncertainty abates. Read More.
• Neutral Sentiment: Mixed guidance — management gave FY27 EPS guidance that, on the EPS line, is stronger than street estimates but revenue guidance was roughly flat-to-miss versus consensus; this creates ambiguity (better earnings leverage vs. near‑term growth pace). Read More.
• Negative Sentiment: Market punished weak FY27 outlook and AI uncertainty — investors focused on the company’s cautious forward tone around AI-driven monetization and growth cadence, triggering the selloff despite the beat. Read More. and Read More.
• Negative Sentiment: Widespread analyst price‑target cuts — multiple firms trimmed targets (several notable cuts reported), reflecting lower near‑term expectations and amplifying selling pressure. Read More.
• Negative Sentiment: High intraday volume and new 52‑week lows — heavy trading and the stock hitting year‑low levels increased volatility and likely triggered stop orders and momentum selling. Read More.

Insider Buying and Selling

In related news, Director Susan L. Bostrom sold 70,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $39.55, for a total transaction of $2,768,500.00. Following the completion of the sale, the director directly owned 79,819 shares in the company, valued at $3,156,841.45. This represents a 46.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CAO Simon Mundy sold 2,756 shares of the business’s stock in a transaction dated Thursday, December 18th. The shares were sold at an average price of $38.42, for a total transaction of $105,885.52. Following the completion of the transaction, the chief accounting officer owned 47,184 shares in the company, valued at $1,812,809.28. The trade was a 5.52% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 603,744 shares of company stock valued at $22,536,495 over the last quarter. Company insiders own 16.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Mizuho decreased their price objective on shares of GitLab from $37.00 to $30.00 and set a “neutral” rating on the stock in a research report on Wednesday. DA Davidson decreased their price target on shares of GitLab from $45.00 to $30.00 and set a “neutral” rating on the stock in a report on Monday. Zacks Research downgraded shares of GitLab from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. KeyCorp cut GitLab from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, December 16th. Finally, The Goldman Sachs Group lowered their price target on GitLab from $48.00 to $42.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 3rd. One analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, fourteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $40.19.

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.