Thrivent Financial for Lutherans Lowers Stock Position in GitLab Inc. $GTLB

Thrivent Financial for Lutherans cut its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 48.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 147,259 shares of the company’s stock after selling 140,782 shares during the period. Thrivent Financial for Lutherans’ holdings in GitLab were worth $5,527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in GTLB. Vanguard Group Inc. boosted its position in shares of GitLab by 9.2% during the 3rd quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock worth $688,902,000 after purchasing an additional 1,285,881 shares during the period. Eminence Capital LP raised its position in GitLab by 15.9% in the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock valued at $324,924,000 after purchasing an additional 989,122 shares during the period. Atreides Management LP raised its position in GitLab by 38.9% in the third quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock valued at $246,601,000 after purchasing an additional 1,532,107 shares during the period. Champlain Investment Partners LLC lifted its stake in GitLab by 4.2% during the third quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after purchasing an additional 191,084 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of GitLab by 35.6% during the third quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company’s stock worth $159,297,000 after buying an additional 926,824 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at GitLab

In other news, Director Matthew Jacobson sold 700,109 shares of GitLab stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $22.95, for a total transaction of $16,067,501.55. Following the completion of the sale, the director directly owned 325 shares of the company’s stock, valued at approximately $7,458.75. The trade was a 99.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $24.85, for a total transaction of $2,887,570.00. Following the transaction, the director owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. The trade was a 0.77% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,392,308 shares of company stock valued at $31,654,249 in the last quarter. 10.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Sanford C. Bernstein cut their price objective on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Guggenheim downgraded GitLab from a “buy” rating to a “neutral” rating in a research report on Thursday, April 9th. Raymond James Financial reissued a “market perform” rating on shares of GitLab in a research report on Tuesday. UBS Group lowered shares of GitLab from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $44.00 to $24.00 in a research note on Thursday, April 16th. Finally, TD Cowen cut shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eighteen have assigned a Hold rating and four have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $37.08.

GitLab Price Performance

GTLB stock opened at $25.62 on Friday. The business’s 50-day moving average is $22.51 and its two-hundred day moving average is $31.33. The firm has a market capitalization of $4.36 billion, a P/E ratio of -73.20 and a beta of 0.82. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The business had revenue of $260.40 million during the quarter, compared to the consensus estimate of $252.31 million. During the same period in the previous year, the company posted $0.33 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. On average, analysts expect that GitLab Inc. will post -0.28 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.