17,684 Shares in GitLab Inc. $GTLB Acquired by Night Squared LP

Night Squared LP acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 17,684 shares of the company’s stock, valued at approximately $798,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Champlain Investment Partners LLC grew its stake in GitLab by 251.3% in the 2nd quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock valued at $203,545,000 after buying an additional 3,227,717 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of GitLab by 2,456.8% during the first quarter. 1832 Asset Management L.P. now owns 2,295,000 shares of the company’s stock valued at $107,865,000 after buying an additional 2,205,238 shares during the period. Norges Bank bought a new stake in shares of GitLab during the 2nd quarter valued at $93,489,000. Jupiter Asset Management Ltd. bought a new position in GitLab in the 2nd quarter valued at approximately $60,268,000. Finally, Marshall Wace LLP raised its position in GitLab by 9,044.9% in the second quarter. Marshall Wace LLP now owns 920,253 shares of the company’s stock worth $41,513,000 after acquiring an additional 910,190 shares during the period. 95.04% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 63,587 shares of the stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.16, for a total transaction of $3,189,523.92. Following the transaction, the director owned 820 shares in the company, valued at $41,131.20. This represents a 98.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Karen Blasing sold 3,250 shares of the stock in a transaction that occurred on Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the transaction, the director owned 97,389 shares in the company, valued at approximately $4,407,826.14. This trade represents a 3.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,186,507 shares of company stock valued at $57,452,801 in the last three months. 21.36% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. BTIG Research reduced their target price on shares of GitLab from $57.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, December 3rd. The Goldman Sachs Group reduced their price target on shares of GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a report on Wednesday, December 3rd. Sanford C. Bernstein reaffirmed an “outperform” rating on shares of GitLab in a research report on Wednesday, December 3rd. Mizuho set a $47.00 price target on GitLab in a research note on Wednesday, December 3rd. Finally, Macquarie downgraded shares of GitLab from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $70.00 to $40.00 in a report on Wednesday, December 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, GitLab currently has an average rating of “Moderate Buy” and an average price target of $53.29.

GitLab Stock Down 0.1%

NASDAQ:GTLB opened at $39.02 on Wednesday. The company has a market cap of $6.50 billion, a P/E ratio of -144.52 and a beta of 0.75. GitLab Inc. has a fifty-two week low of $35.81 and a fifty-two week high of $74.18. The firm’s 50 day moving average is $44.69 and its two-hundred day moving average is $45.23.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, December 2nd. The company reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $244.35 million for the quarter, compared to the consensus estimate of $239.31 million. During the same period in the previous year, the business earned $0.23 EPS. GitLab’s revenue for the quarter was up 24.6% compared to the same quarter last year. GitLab has set its FY 2026 guidance at 0.950-0.960 EPS and its Q4 2026 guidance at 0.220-0.230 EPS. Research analysts forecast that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

About GitLab

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.