Light Street Capital Management LLC Has $38.32 Million Stake in GitLab Inc. $GTLB

Light Street Capital Management LLC raised its position in GitLab Inc. (NASDAQ:GTLB) by 79.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 850,000 shares of the company’s stock after acquiring an additional 375,585 shares during the period. GitLab comprises 6.4% of Light Street Capital Management LLC’s portfolio, making the stock its 5th biggest position. Light Street Capital Management LLC owned about 0.51% of GitLab worth $38,318,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Blue Trust Inc. grew its stake in shares of GitLab by 3.6% during the 3rd quarter. Blue Trust Inc. now owns 8,770 shares of the company’s stock worth $395,000 after acquiring an additional 302 shares in the last quarter. Summit Global Investments boosted its holdings in GitLab by 2.2% during the second quarter. Summit Global Investments now owns 15,193 shares of the company’s stock worth $685,000 after purchasing an additional 331 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in GitLab by 20.1% during the third quarter. Jones Financial Companies Lllp now owns 2,139 shares of the company’s stock worth $102,000 after purchasing an additional 358 shares during the last quarter. Prostatis Group LLC grew its position in GitLab by 6.5% in the third quarter. Prostatis Group LLC now owns 6,051 shares of the company’s stock valued at $273,000 after purchasing an additional 368 shares in the last quarter. Finally, Truist Financial Corp grew its position in GitLab by 1.6% in the third quarter. Truist Financial Corp now owns 24,473 shares of the company’s stock valued at $1,103,000 after purchasing an additional 389 shares in the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insiders Place Their Bets

In other GitLab news, CAO Simon Mundy sold 2,756 shares of the company’s stock in a transaction that occurred on Thursday, December 18th. The stock was sold at an average price of $38.42, for a total value of $105,885.52. Following the sale, the chief accounting officer owned 47,184 shares in the company, valued at $1,812,809.28. This represents a 5.52% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO James Shen sold 2,538 shares of the firm’s stock in a transaction that occurred on Wednesday, December 31st. The shares were sold at an average price of $38.08, for a total value of $96,647.04. Following the completion of the sale, the chief financial officer directly owned 52,284 shares of the company’s stock, valued at approximately $1,990,974.72. The trade was a 4.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 448,721 shares of company stock worth $16,448,036 in the last three months. 21.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on GTLB. Canaccord Genuity Group cut their price target on shares of GitLab from $70.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Wolfe Research restated an “outperform” rating and issued a $50.00 price objective on shares of GitLab in a report on Wednesday, December 3rd. Bank of America lowered their target price on GitLab from $72.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. JPMorgan Chase & Co. upped their target price on GitLab from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, December 3rd. Finally, The Goldman Sachs Group reduced their price target on GitLab from $48.00 to $42.00 and set a “neutral” rating for the company in a research report on Wednesday, December 3rd. One investment analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.62.

GitLab Price Performance

Shares of GTLB opened at $22.57 on Tuesday. The firm has a 50-day moving average of $30.67 and a 200-day moving average of $39.44. GitLab Inc. has a one year low of $22.33 and a one year high of $54.08. The company has a market cap of $3.80 billion, a PE ratio of -64.49 and a beta of 0.79.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. GitLab had a negative net margin of 5.86% and a negative return on equity of 1.79%. The company had revenue of $260.40 million for the quarter, compared to analyst estimates of $252.31 million. During the same period in the previous year, the business earned $0.33 EPS. GitLab’s revenue for the quarter was up 23.2% compared to the same quarter last year. Analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

GitLab 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.