Amova Asset Management Americas Inc. Sells 1,252,841 Shares of GitLab Inc. $GTLB

Amova Asset Management Americas Inc. reduced its stake in GitLab Inc. (NASDAQ:GTLB) by 71.1% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 510,360 shares of the company’s stock after selling 1,252,841 shares during the quarter. Amova Asset Management Americas Inc.’s holdings in GitLab were worth $19,154,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Allworth Financial LP boosted its stake in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company’s stock valued at $25,000 after buying an additional 309 shares during the period. Quarry LP bought a new stake in shares of GitLab in the third quarter valued at approximately $31,000. Lodestone Wealth Management LLC bought a new stake in shares of GitLab in the fourth quarter valued at approximately $36,000. Larson Financial Group LLC boosted its stake in shares of GitLab by 92.7% in the third quarter. Larson Financial Group LLC now owns 1,000 shares of the company’s stock valued at $45,000 after buying an additional 481 shares during the period. Finally, Advisory Services Network LLC bought a new stake in shares of GitLab in the third quarter valued at approximately $48,000. 95.04% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GTLB shares. Bank of America reiterated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. Piper Sandler cut GitLab from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $55.00 to $28.00 in a research note on Wednesday, March 4th. Guggenheim restated a “neutral” rating on shares of GitLab in a research note on Wednesday, June 3rd. Wolfe Research restated an “outperform” rating and set a $36.00 target price on shares of GitLab in a research note on Wednesday, June 3rd. Finally, UBS Group upped their target price on GitLab from $24.00 to $32.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nineteen have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $36.64.

Insiders Place Their Bets

In related news, Director Sytse Sijbrandij sold 116,200 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $24.85, for a total value of $2,887,570.00. Following the completion of the sale, the director directly owned 15,018,251 shares in the company, valued at $373,203,537.35. This represents a 0.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the stock in a transaction on Friday, March 20th. The shares were sold at an average price of $22.37, for a total value of $10,285,703.63. The disclosure for this sale is available in the SEC filing. Insiders sold 1,392,308 shares of company stock valued at $31,654,249 over the last 90 days. 10.64% of the stock is currently owned by company insiders.

GitLab Stock Down 2.5%

NASDAQ GTLB opened at $30.30 on Wednesday. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of -189.38 and a beta of 0.96. GitLab Inc. has a twelve month low of $18.73 and a twelve month high of $52.38. The stock has a fifty day simple moving average of $24.48 and a 200 day simple moving average of $29.88.

GitLab (NASDAQ:GTLB) last posted its quarterly earnings data on Tuesday, June 2nd. The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business 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%.GitLab’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. Research analysts expect that GitLab Inc. will post -0.31 earnings per share for the current fiscal year.

GitLab Company 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.