First Trust Advisors LP Has $63.26 Million Stock Position in GitLab Inc. $GTLB

First Trust Advisors LP lowered its stake in GitLab Inc. (NASDAQ:GTLB) by 20.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,403,308 shares of the company’s stock after selling 359,875 shares during the quarter. First Trust Advisors LP owned approximately 0.84% of GitLab worth $63,261,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Eminence Capital LP grew its position in GitLab by 148.9% during the 2nd quarter. Eminence Capital LP now owns 6,218,607 shares of the company’s stock worth $280,521,000 after purchasing an additional 3,720,406 shares in the last quarter. Atreides Management LP lifted its holdings in shares of GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock valued at $177,652,000 after purchasing an additional 3,531,070 shares in the last quarter. Champlain Investment Partners LLC boosted its position in shares of GitLab by 251.3% in the second quarter. Champlain Investment Partners LLC now owns 4,512,197 shares of the company’s stock worth $203,545,000 after buying an additional 3,227,717 shares during the period. Norges Bank acquired a new stake in shares of GitLab in the second quarter worth $93,489,000. Finally, HMI Capital Management L.P. grew its holdings in shares of GitLab by 32.3% during the second quarter. HMI Capital Management L.P. now owns 5,858,626 shares of the company’s stock valued at $264,283,000 after buying an additional 1,430,151 shares in the last quarter. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

GTLB has been the topic of several recent analyst reports. DA Davidson set a $24.00 price target on GitLab in a research report on Thursday, March 5th. The Goldman Sachs Group lowered their target price on GitLab from $48.00 to $42.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 3rd. Barclays reduced their price target on shares of GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 4th. UBS Group decreased their price target on shares of GitLab from $51.00 to $44.00 and set a “buy” rating for the company in a report on Wednesday, March 4th. Finally, Piper Sandler downgraded shares of GitLab from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $55.00 to $28.00 in a research report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $39.62.

Insider Buying and Selling at GitLab

In other GitLab news, CAO Simon Mundy sold 2,756 shares of GitLab stock in a transaction that occurred on Thursday, December 18th. The shares were sold at an average price of $38.42, for a total value of $105,885.52. Following the completion of the sale, the chief accounting officer directly owned 47,184 shares in the company, valued at $1,812,809.28. The trade was a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sytse Sijbrandij sold 54,300 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $38.95, for a total transaction of $2,114,985.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 503,744 shares of company stock worth $18,590,495 in the last ninety days. Insiders own 21.36% of the company’s stock.

GitLab Price Performance

Shares of GTLB stock opened at $23.19 on Wednesday. GitLab Inc. has a fifty-two week low of $23.06 and a fifty-two week high of $54.61. The stock’s 50-day moving average is $31.82 and its two-hundred day moving average is $40.10. The firm has a market cap of $3.91 billion, a P/E ratio of -66.26 and a beta of 0.79.

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, beating the consensus estimate of $0.23 by $0.07. The business 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 revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.33 EPS. As a group, research analysts expect that GitLab Inc. will post -0.31 EPS for the current year.

About GitLab

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.