B. Metzler seel. Sohn & Co. AG Trims Holdings in GitLab Inc. $GTLB

B. Metzler seel. Sohn & Co. AG lowered its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 75.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,501 shares of the company’s stock after selling 47,373 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in GitLab were worth $699,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC grew its holdings in GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after acquiring an additional 671 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of GitLab by 84.1% in the 3rd quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after purchasing an additional 445 shares in the last quarter. Manchester Capital Management LLC bought a new position in shares of GitLab during the second quarter worth about $48,000. Elevation Point Wealth Partners LLC bought a new position in shares of GitLab during the second quarter worth about $63,000. Finally, Clearstead Advisors LLC grew its stake in GitLab by 35.2% in the third quarter. Clearstead Advisors LLC now owns 1,747 shares of the company’s stock worth $79,000 after purchasing an additional 455 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at GitLab

In other news, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total value of $1,542,663.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Simon Mundy sold 2,756 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,812,809.28. This trade represents a 5.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 503,744 shares of company stock valued at $18,590,495 over the last quarter. Corporate insiders own 16.37% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on GTLB. Needham & Company LLC lowered their price objective on GitLab from $50.00 to $32.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Bank of America decreased their target price on GitLab from $72.00 to $58.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Canaccord Genuity Group lowered their price target on GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Truist Financial dropped their price target on GitLab from $35.00 to $25.00 and set a “hold” rating on the stock in a research report on Wednesday, March 4th. Finally, Sanford C. Bernstein reduced their price objective on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a research note on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $39.62.

GitLab Price Performance

GTLB opened at $23.16 on Thursday. The stock’s 50 day moving average price is $31.53 and its 200 day moving average price is $39.99. The stock has a market cap of $3.90 billion, a P/E ratio of -66.17 and a beta of 0.79. GitLab Inc. has a 12 month low of $22.77 and a 12 month high of $54.61.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative return on equity of 1.79% and a negative net margin of 5.86%.The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities analysts anticipate that GitLab Inc. will post -0.31 EPS for the current year.

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.