Bessemer Group Inc. Cuts Position in GitLab Inc. $GTLB

Bessemer Group Inc. cut its holdings in GitLab Inc. (NASDAQ:GTLB) by 69.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,675 shares of the company’s stock after selling 23,720 shares during the period. Bessemer Group Inc.’s holdings in GitLab were worth $231,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of GTLB. Huntington National Bank increased its position in shares of GitLab by 118.9% during the 4th quarter. Huntington National Bank now owns 320,660 shares of the company’s stock valued at $12,034,000 after purchasing an additional 174,200 shares during the last quarter. ABN Amro Investment Solutions purchased a new position in shares of GitLab in the 4th quarter worth about $2,420,000. Coronation Fund Managers Ltd. boosted its holdings in shares of GitLab by 18.3% in the 4th quarter. Coronation Fund Managers Ltd. now owns 717,483 shares of the company’s stock worth $26,927,000 after buying an additional 110,926 shares during the last quarter. Madison Asset Management LLC bought a new position in GitLab during the fourth quarter valued at about $2,265,000. Finally, Niles Investment Management LLC bought a new position in GitLab during the fourth quarter valued at about $3,983,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $31.28 on Monday. The company has a 50 day moving average of $29.79 and a 200 day moving average of $27.85. The stock has a market cap of $5.28 billion, a P/E ratio of -195.50 and a beta of 0.96. GitLab Inc. has a 12 month low of $18.73 and a 12 month high of $52.38.

GitLab (NASDAQ:GTLB) last posted its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) 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 business had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. During the same period in the prior year, the company posted $0.17 EPS. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, equities analysts forecast that GitLab Inc. will post -0.18 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’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 completion of the transaction, the director directly owned 14,902,051 shares in the company, valued at $423,814,330.44. The trade was a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 10.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

GTLB has been the subject of a number of research analyst reports. UBS Group raised their price objective on shares of GitLab from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Sanford C. Bernstein reissued an “outperform” rating on shares of GitLab in a research report on Monday, June 29th. BTIG Research reissued a “buy” rating and set a $36.00 target price on shares of GitLab in a research report on Thursday, June 11th. TD Cowen restated a “hold” rating and set a $29.00 price target on shares of GitLab in a research note on Wednesday, June 3rd. Finally, DA Davidson lifted their price target on shares of GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $36.58.

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.