Keybank National Association OH Increases Position in GitLab Inc. $GTLB

Keybank National Association OH raised its holdings in shares of GitLab Inc. (NASDAQ:GTLB) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 720,566 shares of the company’s stock after buying an additional 59,453 shares during the period. Keybank National Association OH’s holdings in GitLab were worth $27,043,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Allworth Financial LP boosted its position in shares of GitLab by 124.1% during 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 purchased a new position in shares of GitLab during the third quarter valued at approximately $31,000. Lodestone Wealth Management LLC purchased a new position in shares of GitLab during the fourth quarter valued at approximately $36,000. Farther Finance Advisors LLC boosted its position in shares of GitLab by 284.3% during the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company’s stock valued at $41,000 after buying an additional 671 shares during the period. Finally, Global Retirement Partners LLC boosted its position in shares of GitLab by 84.1% during the third quarter. Global Retirement Partners LLC now owns 974 shares of the company’s stock valued at $44,000 after buying an additional 445 shares during the period. Hedge funds and other institutional investors own 95.04% of the company’s stock.

GitLab Stock Performance

Shares of NASDAQ GTLB opened at $21.91 on Thursday. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of -62.60 and a beta of 0.85. The stock has a 50 day moving average price of $22.85 and a 200 day moving average price of $33.67. GitLab Inc. has a 52-week low of $18.73 and a 52-week high of $54.08.

GitLab (NASDAQ:GTLB) last announced its quarterly earnings results on Tuesday, March 3rd. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $260.40 million during the quarter, compared to analyst estimates of $252.31 million. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.GitLab’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.33 earnings per share. Analysts forecast that GitLab Inc. will post -0.28 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on GTLB shares. TD Cowen lowered GitLab from a “buy” rating to a “hold” rating and set a $29.00 target price for the company. in a research report on Monday, March 2nd. Truist Financial dropped their target price on GitLab from $35.00 to $25.00 and set a “hold” rating for the company in a research report on Wednesday, March 4th. William Blair reiterated an “underperform” rating on shares of GitLab in a report on Monday, March 23rd. Zacks Research lowered GitLab from a “strong-buy” rating to a “hold” rating in a report on Monday, February 2nd. Finally, UBS Group lowered GitLab from a “buy” rating to a “neutral” rating and lowered their price target for the company from $44.00 to $24.00 in a report on Thursday, April 16th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $37.35.

Insider Buying and Selling

In other GitLab news, Director Sytse Sijbrandij sold 116,200 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total transaction of $2,413,474.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Matthew Jacobson sold 459,799 shares of the company’s stock in a transaction on Friday, March 20th. The stock was sold at an average price of $22.37, for a total value of $10,285,703.63. The SEC filing for this sale provides additional information. Insiders sold 1,330,408 shares of company stock valued at $30,309,342 in the last quarter. 21.36% of the stock is owned by company insiders.

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.