Madison Asset Management LLC Makes New $2.27 Million Investment in GitLab Inc. $GTLB

Madison Asset Management LLC acquired a new position in GitLab Inc. (NASDAQ:GTLB) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 60,354 shares of the company’s stock, valued at approximately $2,265,000.

A number of other large investors have also modified their holdings of GTLB. Atreides Management LP raised its position in shares of GitLab by 867.3% in the second quarter. Atreides Management LP now owns 3,938,198 shares of the company’s stock worth $177,652,000 after acquiring an additional 3,531,070 shares during the period. Vanguard Group Inc. raised its position in shares of GitLab by 9.2% in the third quarter. Vanguard Group Inc. now owns 15,281,775 shares of the company’s stock worth $688,902,000 after acquiring an additional 1,285,881 shares during the period. Eminence Capital LP raised its position in shares of GitLab by 15.9% in the third quarter. Eminence Capital LP now owns 7,207,729 shares of the company’s stock worth $324,924,000 after acquiring an additional 989,122 shares during the period. Franklin Resources Inc. raised its position in shares of GitLab by 35.6% in the third quarter. Franklin Resources Inc. now owns 3,533,659 shares of the company’s stock worth $159,297,000 after acquiring an additional 926,824 shares during the period. Finally, Value Aligned Research Advisors LLC acquired a new position in shares of GitLab in the third quarter worth about $32,105,000. Institutional investors and hedge funds own 95.04% of the company’s stock.

Trending Headlines about GitLab

Here are the key news stories impacting GitLab this week:

• Positive Sentiment: GitLab reiterated its fiscal 2027 guidance, suggesting management still expects the restructuring to support its longer-term financial plan rather than derail it.
• Neutral Sentiment: Mizuho raised its price target on GitLab to $26 from $30 while keeping a neutral rating, indicating analysts still see some upside from current levels but are not turning more bullish.
• Neutral Sentiment: Cantor Fitzgerald also lowered its price target to $27 from $30 and maintained a neutral view, reflecting a more cautious stance but not an outright bearish call.
• Neutral Sentiment: Broader market news also showed futures weakening after hotter-than-expected April inflation data, which may be adding extra pressure on growth stocks like GitLab.
• Negative Sentiment: The restructuring news itself is the main driver of the selloff: GitLab is cutting staff, reducing its country footprint, flattening management, and reorganizing R&D, which raises concerns about execution and internal disruption in the near term.
• Negative Sentiment: Analyst commentary and market reaction suggest investors are worried the layoffs could slow progress on product development and customer execution just as GitLab is trying to invest in AI initiatives.

Insider Activity

In related news, Director Matthew Jacobson sold 459,799 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $20.77, for a total transaction of $2,413,474.00. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,330,408 shares of company stock valued at $30,309,342. 10.64% of the stock is owned by corporate insiders.

GitLab Trading Down 4.5%

Shares of NASDAQ GTLB opened at $22.05 on Thursday. GitLab Inc. has a 12-month low of $18.73 and a 12-month high of $54.08. The stock has a market cap of $3.75 billion, a PE ratio of -63.00 and a beta of 0.82. The company has a 50-day moving average of $22.52 and a 200 day moving average of $32.32.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating 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 1.73%. The company had revenue of $260.40 million during the quarter, compared to analysts’ expectations of $252.31 million. During the same quarter in the prior year, the company earned $0.33 EPS. GitLab’s revenue was up 23.2% compared to the same quarter last year. On average, sell-side analysts forecast that GitLab Inc. will post -0.28 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on GTLB shares. Canaccord Genuity Group decreased their price objective on shares of GitLab from $70.00 to $40.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Bank of America downgraded shares of GitLab from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $58.00 to $27.00 in a research report on Wednesday, April 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price objective on shares of GitLab in a research report on Monday, April 13th. Barclays decreased their price objective on shares of GitLab from $29.00 to $25.00 and set an “underweight” rating for the company in a research report on Wednesday, March 4th. Finally, Raymond James Financial downgraded shares of GitLab from an “outperform” rating to a “market perform” rating in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eighteen have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat.com, GitLab presently has a consensus rating of “Hold” and an average price target of $37.08.

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.