Champlain Investment Partners LLC Purchases 3,227,717 Shares of GitLab Inc. $GTLB

Champlain Investment Partners LLC raised its position in GitLab Inc. (NASDAQ:GTLB) by 251.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 4,512,197 shares of the company’s stock after purchasing an additional 3,227,717 shares during the period. GitLab accounts for approximately 1.4% of Champlain Investment Partners LLC’s portfolio, making the stock its 11th largest position. Champlain Investment Partners LLC owned 2.73% of GitLab worth $203,545,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the company. Twin Tree Management LP acquired a new position in GitLab in the first quarter valued at $29,000. Harbour Investments Inc. raised its position in shares of GitLab by 447.6% in the 1st quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after acquiring an additional 734 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of GitLab in the 2nd quarter valued at about $56,000. Byrne Asset Management LLC acquired a new position in shares of GitLab in the 2nd quarter valued at about $61,000. Finally, Banque Transatlantique SA bought a new stake in shares of GitLab during the 1st quarter valued at about $83,000. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at GitLab

In related news, Director Karen Blasing sold 3,250 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total value of $147,095.00. Following the transaction, the director owned 97,389 shares of the company’s stock, valued at approximately $4,407,826.14. This trade represents a 3.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $43.17, for a total value of $4,688,262.00. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 1,329,712 shares of company stock worth $64,154,795. 21.36% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. BTIG Research lowered their target price on GitLab from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, September 4th. Guggenheim began coverage on shares of GitLab in a research report on Thursday, September 11th. They set a “buy” rating and a $70.00 price objective for the company. Truist Financial reiterated a “hold” rating and set a $44.00 target price (down previously from $55.00) on shares of GitLab in a research report on Wednesday, November 19th. Macquarie reissued an “outperform” rating and set a $75.00 target price on shares of GitLab in a research note on Thursday, September 4th. Finally, Raymond James Financial decreased their price target on shares of GitLab from $60.00 to $55.00 and set an “outperform” rating for the company in a research note on Thursday, September 4th. Two research analysts have rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $57.87.

GitLab Trading Down 2.4%

NASDAQ GTLB opened at $41.49 on Monday. The company has a market cap of $6.92 billion, a P/E ratio of -1,037.25 and a beta of 0.74. The company has a fifty day simple moving average of $46.74 and a 200 day simple moving average of $46.09. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18.

GitLab (NASDAQ:GTLB) last released its quarterly earnings data on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). The business had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 EPS. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. Sell-side analysts predict that GitLab Inc. will post -0.31 EPS for the current year.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.