Niles Investment Management LLC Acquires Shares of 106,134 GitLab Inc. $GTLB

Niles Investment Management LLC acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 106,134 shares of the company’s stock, valued at approximately $3,983,000. GitLab makes up about 3.0% of Niles Investment Management LLC’s investment portfolio, making the stock its 12th biggest position.

Other hedge funds have also recently bought and sold shares of the company. Atreides Management LP lifted its holdings in GitLab by 867.3% during the 2nd quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock worth $177,652,000 after buying an additional 3,531,070 shares during the last quarter. Norges Bank bought a new position in GitLab during the 4th quarter worth approximately $81,379,000. Technology Crossover Management X Ltd. lifted its holdings in GitLab by 491.4% during the 4th quarter. Technology Crossover Management X Ltd. now owns 1,922,114 shares of the company’s stock worth $72,137,000 after buying an additional 1,597,114 shares during the last quarter. Vanguard Group Inc. lifted its holdings in 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 buying an additional 1,285,881 shares during the last quarter. Finally, Eminence Capital LP lifted 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 worth $324,924,000 after buying an additional 989,122 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

Insider Buying and Selling at GitLab

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of GitLab 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 sale, the director owned 15,018,251 shares of the company’s stock, valued at $373,203,537.35. The trade was a 0.77% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,392,308 shares of company stock worth $31,654,249 in the last ninety days. 10.64% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GTLB has been the topic of a number of research analyst reports. Cantor Fitzgerald increased their target price on GitLab from $27.00 to $35.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Mizuho increased their target price on GitLab from $26.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Needham & Company LLC increased their target price on GitLab from $32.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, June 3rd. BTIG Research reissued a “buy” rating and issued a $36.00 price target on shares of GitLab in a report on Thursday. Finally, Sanford C. Bernstein cut their price target on GitLab from $70.00 to $60.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Two 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 company. According to data from MarketBeat, GitLab presently has a consensus rating of “Hold” and an average price target of $36.64.

GitLab Price Performance

Shares of GitLab stock opened at $27.79 on Friday. The business’s fifty day moving average price is $24.88 and its two-hundred day moving average price is $29.67. The company has a market capitalization of $4.69 billion, a P/E ratio of -173.69 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 announced its earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.03. The firm had revenue of $264.16 million for the quarter, compared to the consensus estimate of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, research analysts expect that GitLab Inc. will post -0.18 earnings per share for the current fiscal 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.