GitLab Inc. $GTLB Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA cut its stake in GitLab Inc. (NASDAQ:GTLB) by 7.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 804,540 shares of the company’s stock after selling 62,200 shares during the period. Primecap Management Co. CA owned 0.49% of GitLab worth $36,293,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in GTLB. Twin Tree Management LP bought a new position in GitLab during the 1st quarter worth approximately $29,000. Harbour Investments Inc. grew its stake 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 purchasing an additional 734 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new stake in shares of GitLab during the 2nd quarter worth $56,000. Byrne Asset Management LLC acquired a new stake in GitLab during the 2nd quarter worth about $61,000. Finally, Banque Transatlantique SA acquired a new position in GitLab in the 1st quarter worth approximately $83,000. 95.04% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GTLB has been the topic of a number of research reports. Raymond James Financial dropped their target price on GitLab from $60.00 to $55.00 and set an “outperform” rating on the stock in a report on Thursday, September 4th. Mizuho lowered shares of GitLab from an “outperform” rating to a “neutral” rating and set a $52.00 price objective on the stock. in a research note on Tuesday, October 7th. Morgan Stanley increased their target price on shares of GitLab from $56.00 to $60.00 and gave the stock an “overweight” rating in a research report on Monday, October 6th. KeyCorp lowered their price target on shares of GitLab from $60.00 to $53.00 and set an “overweight” rating on the stock in a report on Thursday, September 4th. Finally, Wells Fargo & Company initiated coverage on shares of GitLab in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $50.00 price target on the stock. Two research analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $58.38.

Insider Buying and Selling at GitLab

In other GitLab news, Director Matthew Jacobson sold 63,587 shares of the business’s stock in a transaction on Tuesday, September 23rd. The shares were sold at an average price of $50.16, for a total value of $3,189,523.92. Following the sale, the director owned 820 shares of the company’s stock, valued at $41,131.20. The trade was a 98.73% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $43.17, for a total transaction of $4,688,262.00. The SEC filing for this sale provides additional information. Insiders have sold 1,329,712 shares of company stock worth $64,154,795 over the last three months. 16.37% of the stock is currently owned by corporate insiders.

GitLab Stock Performance

NASDAQ GTLB opened at $43.40 on Thursday. GitLab Inc. has a twelve month low of $37.90 and a twelve month high of $74.18. The stock has a market cap of $7.23 billion, a PE ratio of -1,085.00 and a beta of 0.74. The firm has a 50-day simple moving average of $47.06 and a 200 day simple moving average of $46.15.

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

About GitLab

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.