Franklin Resources Inc. Decreases Holdings in GitLab Inc. $GTLB

Franklin Resources Inc. cut its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 8.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,234,160 shares of the company’s stock after selling 299,499 shares during the quarter. Franklin Resources Inc. owned approximately 1.92% of GitLab worth $121,378,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of GitLab by 9.2% during the 3rd 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 grew its stake in shares of GitLab by 15.9% during the 3rd 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. Atreides Management LP grew its stake in shares of GitLab by 38.9% during the 3rd quarter. Atreides Management LP now owns 5,470,305 shares of the company’s stock worth $246,601,000 after acquiring an additional 1,532,107 shares during the period. Champlain Investment Partners LLC grew its stake in shares of GitLab by 4.2% during the 3rd quarter. Champlain Investment Partners LLC now owns 4,703,281 shares of the company’s stock worth $212,024,000 after acquiring an additional 191,084 shares during the period. Finally, ARK Investment Management LLC grew its stake in shares of GitLab by 4.4% during the 3rd quarter. ARK Investment Management LLC now owns 3,437,617 shares of the company’s stock worth $154,968,000 after acquiring an additional 144,932 shares during the period. 95.04% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

GTLB has been the subject of several research reports. Weiss Ratings upgraded GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, June 3rd. DA Davidson increased their price target on GitLab from $24.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald increased their price target on GitLab from $27.00 to $35.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. Wells Fargo & Company cut their price target on GitLab from $45.00 to $26.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 4th. Finally, JPMorgan Chase & Co. raised their target price on GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, nineteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, GitLab currently has an average rating of “Hold” and an average target price of $36.64.

GitLab Stock Down 5.9%

Shares of NASDAQ GTLB opened at $28.51 on Thursday. GitLab Inc. has a 52 week low of $18.73 and a 52 week high of $52.38. The business has a 50-day simple moving average of $24.63 and a two-hundred day simple moving average of $29.78. The company has a market cap of $4.85 billion, a P/E ratio of -178.19 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last issued its quarterly earnings results on Tuesday, June 2nd. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The firm had revenue of $264.16 million during the quarter, compared to the consensus estimate of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The company’s revenue for the quarter was up 23.2% on a year-over-year basis. During the same quarter last year, the company posted $0.17 EPS. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Equities research analysts anticipate that GitLab Inc. will post -0.18 EPS for the current year.

Insider Transactions at GitLab

In other news, Director Matthew Jacobson sold 459,799 shares of GitLab stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sytse Sijbrandij sold 116,200 shares of GitLab stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $24.85, for a total value of $2,887,570.00. Following the sale, the director owned 15,018,251 shares of the company’s stock, valued at approximately $373,203,537.35. This trade represents a 0.77% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,392,308 shares of company stock valued at $31,654,249. Corporate insiders own 10.64% of the company’s stock.

GitLab Profile

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.