Granite Investment Partners LLC Acquires 22,632 Shares of GitLab Inc. $GTLB

Granite Investment Partners LLC increased its holdings in GitLab Inc. (NASDAQ:GTLB) by 16.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,775 shares of the company’s stock after purchasing an additional 22,632 shares during the quarter. Granite Investment Partners LLC’s holdings in GitLab were worth $3,414,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Huntington National Bank increased its holdings in shares of GitLab by 118.9% in the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock worth $12,034,000 after buying an additional 174,200 shares during the period. ABN Amro Investment Solutions bought a new stake in shares of GitLab in the 4th quarter valued at about $2,420,000. Light Street Capital Management LLC boosted its holdings in GitLab by 79.2% during the 3rd quarter. Light Street Capital Management LLC now owns 850,000 shares of the company’s stock valued at $38,318,000 after acquiring an additional 375,585 shares during the period. Eminence Capital LP boosted its holdings in GitLab by 15.9% during the 3rd quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock valued at $324,924,000 after acquiring an additional 989,122 shares during the period. Finally, Cantor Fitzgerald L. P. grew its position in GitLab by 280.0% during the 3rd quarter. Cantor Fitzgerald L. P. now owns 69,000 shares of the company’s stock worth $3,111,000 after acquiring an additional 50,840 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

GitLab Price Performance

Shares of NASDAQ:GTLB opened at $33.86 on Friday. The stock’s 50-day moving average is $27.91 and its 200 day moving average is $28.25. The company has a market cap of $5.72 billion, a PE ratio of -211.62 and a beta of 0.96. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data 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. The business had revenue of $264.16 million during the quarter, compared to analysts’ expectations of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business’s revenue was up 23.2% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Analysts expect that GitLab Inc. will post -0.18 EPS for the current fiscal year.

Insider Activity at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction that occurred on 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 owned 14,902,051 shares in the company, valued at $423,814,330.44. This represents a 0.77% decrease in their ownership of the stock. The sale was disclosed in a legal 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. Insiders sold a total of 348,600 shares of company stock worth $8,605,772 in the last ninety days. 10.64% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on GTLB shares. UBS Group lifted their price target on GitLab from $24.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. TD Cowen restated a “hold” rating and issued a $29.00 target price on shares of GitLab in a report on Wednesday, June 3rd. Guggenheim restated a “neutral” rating on shares of GitLab in a report on Wednesday, June 3rd. JPMorgan Chase & Co. lifted their target price on shares of GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Finally, Wolfe Research reiterated an “outperform” rating and set a $36.00 price target on shares of GitLab in a report on Wednesday, June 3rd. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.84.

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.