Delta Global Management LP Grows Stake in GitLab Inc. $GTLB

Delta Global Management LP raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 133.0% during the third quarter, HoldingsChannel.com reports. The firm owned 117,587 shares of the company’s stock after buying an additional 67,113 shares during the period. Delta Global Management LP’s holdings in GitLab were worth $5,301,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in GTLB. Farther Finance Advisors LLC grew its stake in GitLab by 284.3% during the 3rd quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock worth $41,000 after buying an additional 671 shares during the last quarter. Global Retirement Partners LLC raised its stake in GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after buying an additional 445 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in GitLab in the second quarter valued at about $48,000. Elevation Point Wealth Partners LLC acquired a new stake in GitLab in the second quarter worth about $63,000. Finally, Clearstead Advisors LLC boosted its holdings in GitLab by 35.2% in the third quarter. Clearstead Advisors LLC now owns 1,747 shares of the company’s stock worth $79,000 after acquiring an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Analyst Upgrades and Downgrades

GTLB has been the topic of several recent analyst reports. Royal Bank Of Canada cut their price objective on shares of GitLab from $40.00 to $33.00 and set an “outperform” rating on the stock in a report on Wednesday, March 4th. Macquarie Infrastructure downgraded shares of GitLab from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $70.00 to $40.00 in a research report on Wednesday, December 3rd. Rosenblatt Securities cut their price target on shares of GitLab from $55.00 to $43.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Weiss Ratings reiterated a “sell (d-)” rating on shares of GitLab in a research note on Monday, December 22nd. Finally, TD Cowen lowered shares of GitLab from a “buy” rating to a “hold” rating and set a $29.00 price objective on the stock. in a report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $39.62.

GitLab Stock Down 0.6%

Shares of NASDAQ GTLB opened at $22.69 on Monday. The business’s 50 day moving average price is $30.97 and its 200 day moving average price is $39.63. The firm has a market cap of $3.82 billion, a P/E ratio of -64.83 and a beta of 0.79. GitLab Inc. has a 52 week low of $22.40 and a 52 week high of $54.08.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $252.31 million. During the same period last year, the firm posted $0.33 EPS. GitLab’s revenue for the quarter was up 23.2% compared to the same quarter last year. As a group, research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current year.

Insider Buying and Selling at GitLab

In related news, Director Matthew Jacobson sold 334,827 shares of the business’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $38.08, for a total transaction of $12,750,212.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Sytse Sijbrandij sold 54,300 shares of the company’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $28.41, for a total transaction of $1,542,663.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 449,444 shares of company stock worth $16,475,510 over the last ninety days. 21.36% of the stock is owned by insiders.

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.