Amova Asset Management Americas Inc. Increases Stock Holdings in GitLab Inc. $GTLB

Amova Asset Management Americas Inc. grew its stake in shares of GitLab Inc. (NASDAQ:GTLB) by 5.0% during the first quarter, Holdings Channel reports. The firm owned 535,833 shares of the company’s stock after purchasing an additional 25,473 shares during the period. Amova Asset Management Americas Inc.’s holdings in GitLab were worth $11,585,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank grew its holdings in shares of GitLab by 118.9% during the fourth quarter. Huntington National Bank now owns 320,660 shares of the company’s stock worth $12,034,000 after buying an additional 174,200 shares in the last quarter. ABN Amro Investment Solutions purchased a new position in shares of GitLab during the fourth quarter valued at approximately $2,420,000. Coronation Fund Managers Ltd. boosted its position in GitLab by 18.3% during the fourth quarter. Coronation Fund Managers Ltd. now owns 717,483 shares of the company’s stock worth $26,927,000 after acquiring an additional 110,926 shares during the last quarter. Madison Asset Management LLC acquired a new stake in GitLab during the fourth quarter worth approximately $2,265,000. Finally, Niles Investment Management LLC purchased a new stake in GitLab in the 4th quarter worth approximately $3,983,000. Hedge funds and other institutional investors own 95.04% of the company’s stock.

Insiders Place Their Bets

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $28.44, for a total transaction of $3,304,728.00. Following the completion of the transaction, the director directly owned 14,902,051 shares of the company’s stock, valued at $423,814,330.44. The trade was a 0.77% decrease in their position. 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. 10.64% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on GTLB. Cantor Fitzgerald boosted their price objective on shares of GitLab from $27.00 to $35.00 and gave the company a “neutral” rating in a research note on Wednesday, June 3rd. BTIG Research restated a “buy” rating and set a $36.00 price target on shares of GitLab in a research note on Thursday, June 11th. Weiss Ratings upgraded GitLab from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, June 3rd. Raymond James Financial reaffirmed a “market perform” rating on shares of GitLab in a research note on Tuesday, May 19th. Finally, JPMorgan Chase & Co. boosted their target price on GitLab from $28.00 to $32.00 and gave the stock a “neutral” rating in a report on Wednesday, June 3rd. Two investment analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating, seventeen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $36.58.

GitLab Stock Up 4.1%

Shares of NASDAQ GTLB opened at $34.07 on Tuesday. The firm’s 50-day moving average price is $29.11 and its two-hundred day moving average price is $28.01. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $52.38. The stock has a market capitalization of $5.75 billion, a P/E ratio of -212.94 and a beta of 0.96.

GitLab (NASDAQ:GTLB) last posted its 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 company had revenue of $264.16 million for the quarter, compared to analysts’ expectations of $254.23 million. GitLab had a positive return on equity of 0.31% and a negative net margin of 2.49%.The firm’s quarterly revenue was up 23.2% compared to the same quarter last year. During the same period last year, the business posted $0.17 earnings per share. GitLab has set its Q2 2027 guidance at 0.170-0.180 EPS. As a group, equities research analysts expect that GitLab Inc. will post -0.18 earnings per share for the current 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.