GitLab Inc. (NASDAQ:GTLB) Shares Bought by Huntington National Bank

Huntington National Bank lifted its holdings in GitLab Inc. (NASDAQ:GTLB) by 84.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 117,383 shares of the company’s stock after purchasing an additional 53,651 shares during the period. Huntington National Bank owned about 0.07% of GitLab worth $6,615,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in GTLB. M&T Bank Corp boosted its holdings in GitLab by 3.1% during the fourth quarter. M&T Bank Corp now owns 4,965 shares of the company’s stock worth $280,000 after buying an additional 148 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in shares of GitLab by 7.9% during the 4th quarter. Wilmington Savings Fund Society FSB now owns 2,050 shares of the company’s stock worth $116,000 after acquiring an additional 150 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of GitLab by 0.3% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 91,445 shares of the company’s stock worth $4,713,000 after acquiring an additional 281 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of GitLab by 17.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,263 shares of the company’s stock worth $128,000 after purchasing an additional 328 shares during the period. Finally, Glenmede Trust Co. NA lifted its holdings in shares of GitLab by 3.0% during the third quarter. Glenmede Trust Co. NA now owns 11,564 shares of the company’s stock valued at $596,000 after purchasing an additional 334 shares during the last quarter. Institutional investors and hedge funds own 95.04% of the company’s stock.

GitLab Price Performance

GitLab stock opened at $48.33 on Thursday. GitLab Inc. has a one year low of $40.72 and a one year high of $74.18. The company’s fifty day moving average price is $60.72 and its two-hundred day moving average price is $59.04. The company has a market capitalization of $7.84 billion, a price-to-earnings ratio of -151.03 and a beta of 0.67.

Insider Transactions at GitLab

In other news, CFO Brian G. Robins sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $70.83, for a total value of $708,300.00. Following the completion of the sale, the chief financial officer now directly owns 267,380 shares in the company, valued at approximately $18,938,525.40. The trade was a 3.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Sytse Sijbrandij sold 84,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $62.99, for a total transaction of $5,291,160.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 311,886 shares of company stock worth $17,736,229. 21.36% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently weighed in on GTLB. Piper Sandler lifted their price target on GitLab from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Morgan Stanley lifted their target price on shares of GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. Barclays reduced their price target on shares of GitLab from $70.00 to $58.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 4th. Cantor Fitzgerald reiterated an “overweight” rating and set a $80.00 price objective on shares of GitLab in a research report on Tuesday, March 4th. Finally, Scotiabank increased their target price on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. Three equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $75.09.

GitLab Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.