Renaissance Technologies LLC Makes New $16.07 Million Investment in GitLab Inc. $GTLB

Renaissance Technologies LLC acquired a new position in GitLab Inc. (NASDAQ:GTLB) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 742,800 shares of the company’s stock, valued at approximately $16,074,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GTLB. Allworth Financial LP lifted its stake in GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Main Management ETF Advisors LLC grew its stake in shares of GitLab by 1.0% during the fourth quarter. Main Management ETF Advisors LLC now owns 33,669 shares of the company’s stock valued at $1,264,000 after buying an additional 344 shares during the last quarter. Utah Retirement Systems grew its stake in shares of GitLab by 6.6% during the fourth quarter. Utah Retirement Systems now owns 7,407 shares of the company’s stock valued at $278,000 after buying an additional 460 shares during the last quarter. Larson Financial Group LLC increased its holdings in shares of GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock worth $45,000 after buying an additional 481 shares during the period. Finally, Quarry LP increased its holdings in shares of GitLab by 72.5% in the fourth quarter. Quarry LP now owns 1,202 shares of the company’s stock worth $45,000 after buying an additional 505 shares during the period. Institutional investors own 95.04% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GTLB. BTIG Research restated a “buy” rating and set a $36.00 target price on shares of GitLab in a report on Thursday, June 11th. Weiss Ratings raised GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 3rd. Zacks Research upgraded shares of GitLab from a “hold” rating to a “strong-buy” rating in a report on Tuesday, June 9th. Needham & Company LLC lifted their target price on shares of GitLab from $32.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, June 3rd. Finally, Mizuho upped their price target on shares of GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a report on Wednesday, June 3rd. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $36.58.

Insider Activity

In other news, Director Sytse Sijbrandij sold 116,200 shares of the business’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 transaction, the director directly owned 14,902,051 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 10.64% of the company’s stock.

GitLab Price Performance

NASDAQ GTLB opened at $34.51 on Friday. GitLab Inc. has a 1 year low of $18.73 and a 1 year high of $52.38. The stock has a market capitalization of $5.83 billion, a PE ratio of -215.69 and a beta of 0.96. The business’s 50-day moving average is $30.56 and its 200 day moving average is $27.82.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The business had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the prior year, the company posted $0.17 EPS. GitLab’s quarterly revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, equities research analysts anticipate that GitLab Inc. will post -0.18 earnings per share for the current year.

GitLab Company 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.