Artisan Partners Limited Partnership Sells 3,186,343 Shares of GitLab Inc. $GTLB

Artisan Partners Limited Partnership decreased its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 82.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 679,549 shares of the company’s stock after selling 3,186,343 shares during the period. Artisan Partners Limited Partnership’s holdings in GitLab were worth $30,654,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of GTLB. Twin Tree Management LP purchased a new stake in GitLab during the 1st quarter valued at $29,000. Harbour Investments Inc. lifted its holdings in 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 in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. bought a new position in shares of GitLab during the second quarter worth $56,000. Byrne Asset Management LLC bought a new stake in shares of GitLab in the second quarter worth about $61,000. Finally, Banque Transatlantique SA purchased a new stake in shares of GitLab during the 1st quarter worth approximately $83,000. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Truist Financial reaffirmed a “hold” rating and set a $44.00 price objective (down from $55.00) on shares of GitLab in a research note on Wednesday. FBN Securities upgraded shares of GitLab to a “strong-buy” rating in a report on Thursday, September 4th. Zacks Research raised shares of GitLab from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Needham & Company LLC reissued a “buy” rating and issued a $55.00 price objective on shares of GitLab in a research report on Thursday, September 4th. Finally, UBS Group decreased their price objective on shares of GitLab from $73.00 to $60.00 and set a “buy” rating for the company in a research note on Thursday, September 4th. Two investment analysts have rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $57.87.

GitLab Stock Performance

Shares of GTLB opened at $41.49 on Friday. GitLab Inc. has a one year low of $37.90 and a one year high of $74.18. The stock has a 50-day moving average of $46.74 and a two-hundred day moving average of $46.10. The stock has a market cap of $6.92 billion, a P/E ratio of -1,037.25 and a beta of 0.74.

GitLab (NASDAQ:GTLB) last issued its earnings results on Wednesday, September 3rd. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.19). The company had revenue of $236.00 million during the quarter, compared to analysts’ expectations of $227.20 million. GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $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. Analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Insider Transactions at GitLab

In related news, Director Sytse Sijbrandij sold 108,600 shares of the stock in a transaction 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Simon Mundy sold 5,191 shares of the business’s stock in a transaction dated Wednesday, October 1st. The stock was sold at an average price of $43.99, for a total transaction of $228,352.09. Following the transaction, the chief accounting officer owned 53,507 shares in the company, valued at $2,353,772.93. The trade was a 8.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,329,712 shares of company stock valued at $64,154,795 in the last 90 days. Corporate insiders own 16.37% of the company’s stock.

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.