Comerica Bank Has $5.29 Million Stake in GitLab Inc. $GTLB

Key Points

• Comerica Bank increased its holdings in GitLab Inc. by 116.6%, acquiring an additional 60,634 shares, which brought its total to 112,614 shares valued at approximately $5.29 million.
• Institutional investors now own 95.04% of GitLab's stock, with several firms such as Cullen Frost Bankers and Harbour Investments significantly boosting their positions in recent quarters.
• Analyst opinions are mixed, with Barclays lowering its price target from $58.00 to $47.00, while Macquarie maintained an "outperform" rating with a target of $75.00, leading to a consensus average target price of $62.83.

Comerica Bank grew its holdings in shares of GitLab Inc. (NASDAQ:GTLB - Free Report) by 116.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 112,614 shares of the company's stock after purchasing an additional 60,634 shares during the period. Comerica Bank owned approximately 0.07% of GitLab worth $5,293,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. MetLife Investment Management LLC boosted its stake in GitLab by 3.2% during the first quarter. MetLife Investment Management LLC now owns 7,762 shares of the company's stock valued at $365,000 after buying an additional 242 shares in the last quarter. Jump Financial LLC bought a new position in GitLab during the first quarter valued at about $10,498,000. SVB Wealth LLC bought a new position in GitLab during the first quarter valued at about $110,000. Northwestern Mutual Wealth Management Co. boosted its stake in GitLab by 236.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 566,768 shares of the company's stock valued at $26,638,000 after buying an additional 398,173 shares in the last quarter. Finally, Circle Wealth Management LLC boosted its stake in GitLab by 7.6% during the first quarter. Circle Wealth Management LLC now owns 22,703 shares of the company's stock valued at $1,067,000 after buying an additional 1,602 shares in the last quarter. 95.04% of the stock is owned by institutional investors and hedge funds.

GitLab Stock Down 2.1%

Shares of GTLB traded down $1.01 during midday trading on Friday, reaching $48.02. 4,988,744 shares of the stock were exchanged, compared to its average volume of 4,543,735. GitLab Inc. has a 12-month low of $37.90 and a 12-month high of $74.18. The firm has a 50 day simple moving average of $44.46 and a 200-day simple moving average of $47.84.

GitLab (NASDAQ:GTLB - Get Free Report) last posted its quarterly earnings results on Tuesday, June 10th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. GitLab had a negative return on equity of 4.07% and a net margin of 2.17%.The company had revenue of $214.51 million during the quarter, compared to the consensus estimate of $213.21 million. During the same period last year, the business earned $0.03 EPS. The business's quarterly revenue was up 26.8% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.740-0.750 EPS. Q2 2026 guidance at 0.160-0.17 EPS. Equities research analysts forecast that GitLab Inc. will post -0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GTLB shares. Piper Sandler reiterated an "overweight" rating and issued a $85.00 price target on shares of GitLab in a research report on Wednesday, June 11th. DA Davidson upgraded GitLab to a "hold" rating in a research report on Monday, August 25th. Raymond James Financial decreased their price target on GitLab from $80.00 to $60.00 and set an "outperform" rating for the company in a research report on Wednesday, June 11th. UBS Group decreased their price target on GitLab from $85.00 to $73.00 and set a "buy" rating for the company in a research report on Wednesday, June 11th. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $50.00 price objective on shares of GitLab in a research report on Tuesday, June 24th. Twenty research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $62.83.

Insiders Place Their Bets

In other news, Director Karen Blasing sold 3,250 shares of GitLab stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.00, for a total transaction of $146,250.00. Following the sale, the director owned 103,889 shares of the company's stock, valued at approximately $4,675,005. This trade represents a 3.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Sytse Sijbrandij sold 108,600 shares of GitLab stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $41.44, for a total value of $4,500,384.00. The disclosure for this sale can be found here. Insiders have sold a total of 464,950 shares of company stock valued at $20,025,356 in the last three months. Company insiders own 21.36% of the company's stock.

About GitLab

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.