Granite Investment Partners LLC Buys 22,632 Shares of GitLab Inc. $GTLB

Granite Investment Partners LLC lifted its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 157,775 shares of the company’s stock after purchasing an additional 22,632 shares during the period. Granite Investment Partners LLC owned 0.09% of GitLab worth $3,414,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Sumitomo Mitsui Trust Group Inc. lifted its stake in GitLab by 5.0% in the first quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,833 shares of the company’s stock valued at $11,595,000 after purchasing an additional 25,473 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in GitLab during the first quarter valued at $2,457,000. Blue Trust Inc. increased its position in GitLab by 73.7% in the first quarter. Blue Trust Inc. now owns 10,189 shares of the company’s stock worth $220,000 after buying an additional 4,324 shares during the last quarter. Bell Investment Advisors Inc increased its position in GitLab by 28,328.3% in the first quarter. Bell Investment Advisors Inc now owns 13,077 shares of the company’s stock worth $283,000 after buying an additional 13,031 shares during the last quarter. Finally, SG Americas Securities LLC increased its holdings in GitLab by 6,528.0% in the 1st quarter. SG Americas Securities LLC now owns 3,135,394 shares of the company’s stock worth $67,850,000 after acquiring an additional 3,088,089 shares during the last quarter. Institutional investors own 95.04% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GTLB shares. William Blair restated an “underperform” rating on shares of GitLab in a research report on Monday, March 23rd. Guggenheim reaffirmed a “neutral” rating on shares of GitLab in a report on Wednesday, June 3rd. Mizuho lifted their price target on GitLab from $26.00 to $28.00 and gave the company a “neutral” rating in a research report on Wednesday, June 3rd. TD Cowen reissued a “hold” rating and set a $29.00 price objective on shares of GitLab in a report on Wednesday, June 3rd. Finally, Zacks Research upgraded shares of GitLab from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 9th. Two analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, eighteen have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, GitLab currently has a consensus rating of “Hold” and an average target price of $36.84.

Insider Buying and Selling at GitLab

In related news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $28.44, for a total value of $3,304,728.00. Following the completion of the sale, the director owned 14,902,051 shares in the company, valued at $423,814,330.44. The trade was a 0.77% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 348,600 shares of company stock worth $8,605,772. Company insiders own 10.64% of the company’s stock.

GitLab Stock Performance

Shares of NASDAQ:GTLB opened at $33.86 on Friday. The firm has a market capitalization of $5.72 billion, a PE ratio of -211.62 and a beta of 0.96. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $52.38. The firm has a fifty day moving average of $27.91 and a 200 day moving average of $28.25.

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, topping the consensus estimate of $0.20 by $0.03. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm had revenue of $264.16 million during the quarter, compared to analyst estimates of $254.23 million. During the same quarter in the previous year, the company posted $0.17 earnings per share. The company’s revenue was up 23.2% compared to the same quarter last year. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. On average, sell-side analysts forecast that GitLab Inc. will post -0.18 EPS for the current fiscal year.

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.