Amova Asset Management Americas Inc. Grows Stock Holdings in GitLab Inc. $GTLB

Amova Asset Management Americas Inc. lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 5.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 535,833 shares of the company’s stock after purchasing an additional 25,473 shares during the period. Amova Asset Management Americas Inc. owned 0.32% of GitLab worth $11,585,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Parallel Advisors LLC grew its holdings in shares of GitLab by 51.1% in the first quarter. Parallel Advisors LLC now owns 5,458 shares of the company’s stock valued at $118,000 after purchasing an additional 1,846 shares during the period. California Public Employees Retirement System raised its stake in GitLab by 3.2% during the first quarter. California Public Employees Retirement System now owns 200,216 shares of the company’s stock worth $4,333,000 after purchasing an additional 6,119 shares during the period. Watershed Asset Management L.L.C. raised its stake in GitLab by 18.5% during the first quarter. Watershed Asset Management L.L.C. now owns 64,000 shares of the company’s stock worth $1,385,000 after purchasing an additional 10,000 shares during the period. Assetmark Inc. boosted its holdings in GitLab by 7.8% in the 1st quarter. Assetmark Inc. now owns 39,646 shares of the company’s stock valued at $858,000 after purchasing an additional 2,862 shares during the last quarter. Finally, Fifth Third Bancorp boosted its holdings in GitLab by 220.6% in the 1st quarter. Fifth Third Bancorp now owns 1,603 shares of the company’s stock valued at $35,000 after purchasing an additional 1,103 shares during the last quarter. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GTLB has been the subject of several recent analyst reports. Truist Financial raised their target price on GitLab from $25.00 to $30.00 and gave the stock a “hold” rating in a research note on Thursday, July 9th. Guggenheim reiterated a “neutral” rating on shares of GitLab in a report on Wednesday, June 3rd. UBS Group increased their price target on GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Bank of America reissued a “neutral” rating on shares of GitLab in a research report on Wednesday, June 3rd. Finally, William Blair reaffirmed an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, seventeen have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, GitLab currently has an average rating of “Hold” and a consensus price target of $36.58.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the sale, the director owned 14,902,051 shares in the company, valued at $423,814,330.44. This represents a 0.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by company insiders.

GitLab Price Performance

NASDAQ GTLB opened at $34.07 on Tuesday. The company has a market cap of $5.75 billion, a P/E ratio of -212.94 and a beta of 0.96. The stock has a 50-day moving average of $29.11 and a two-hundred day moving average of $28.01. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $52.38.

GitLab (NASDAQ:GTLB) last announced its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.03. GitLab had a negative net margin of 2.49% and a positive return on equity of 0.31%. The firm had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. During the same period in the prior year, the firm earned $0.17 EPS. The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, analysts anticipate that GitLab Inc. will post -0.18 EPS for the current fiscal 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.