Keybank National Association OH Acquires 59,453 Shares of GitLab Inc. $GTLB

Key Points

• KeyBank National Association OH raised its GitLab stake by 9%, buying 59,453 shares to hold 720,566 shares (about 0.43% of the company) worth roughly $27.0 million, and institutional investors own about 95% of GitLab.
• Large insider selling has occurred recently: directors Matthew Jacobson and Sytse Sijbrandij sold substantial blocks (459,799 and 116,200 shares), with insiders offloading 1,330,408 shares (~$30.3M) over the past three months while still owning ~21.36% of the stock.
• Analysts have an average rating of "Hold" and a mean price target of $37.35 versus the current share price near $21.91; GitLab recently beat revenue and EPS estimates with 23.2% revenue growth but remains unprofitable (negative net margin and negative EPS outlook).

Keybank National Association OH lifted its position in GitLab Inc. (NASDAQ:GTLB - Free Report) by 9.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 720,566 shares of the company's stock after purchasing an additional 59,453 shares during the quarter. Keybank National Association OH owned about 0.43% of GitLab worth $27,043,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GTLB. Allworth Financial LP increased its holdings in shares of GitLab by 124.1% in the third quarter. Allworth Financial LP now owns 558 shares of the company's stock worth $25,000 after purchasing an additional 309 shares during the last quarter. Quarry LP bought a new stake in shares of GitLab in the third quarter worth about $31,000. Lodestone Wealth Management LLC bought a new stake in shares of GitLab in the fourth quarter worth about $36,000. Farther Finance Advisors LLC increased its holdings in shares of GitLab by 284.3% in the third quarter. Farther Finance Advisors LLC now owns 907 shares of the company's stock worth $41,000 after purchasing an additional 671 shares during the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of GitLab by 84.1% in the third quarter. Global Retirement Partners LLC now owns 974 shares of the company's stock worth $44,000 after purchasing an additional 445 shares during the last quarter. 95.04% of the stock is owned by institutional investors.

Insider Activity at GitLab

In other GitLab news, Director Matthew Jacobson sold 459,799 shares of the business's stock in a transaction that occurred on Friday, March 20th. The stock was sold at an average price of $22.37, for a total transaction of $10,285,703.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Sytse Sijbrandij sold 116,200 shares of the business's stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $20.77, for a total value of $2,413,474.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,330,408 shares of company stock worth $30,309,342 over the last three months. 21.36% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GTLB. TD Cowen cut GitLab from a "buy" rating to a "hold" rating and set a $29.00 target price on the stock. in a report on Monday, March 2nd. DA Davidson set a $24.00 target price on GitLab in a report on Thursday, March 5th. Zacks Research cut GitLab from a "strong-buy" rating to a "hold" rating in a report on Monday, February 2nd. Mizuho reduced their target price on GitLab from $37.00 to $30.00 and set a "neutral" rating on the stock in a report on Wednesday, March 4th. Finally, William Blair reaffirmed an "underperform" rating on shares of GitLab in a report on Monday, March 23rd. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, seventeen have issued a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $37.35.

GitLab Price Performance

Shares of NASDAQ GTLB opened at $21.91 on Thursday. The business's 50 day moving average is $22.85 and its two-hundred day moving average is $33.67. GitLab Inc. has a 1-year low of $18.73 and a 1-year high of $54.08. The stock has a market capitalization of $3.73 billion, a P/E ratio of -62.60 and a beta of 0.85.

GitLab (NASDAQ:GTLB - Get Free Report) last issued its quarterly earnings data on Tuesday, March 3rd. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.23 by $0.07. GitLab had a negative return on equity of 1.73% and a negative net margin of 5.86%.The company had revenue of $260.40 million for the quarter, compared to analysts' expectations of $252.31 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm's revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities research analysts anticipate that GitLab Inc. will post -0.28 earnings per share for the current fiscal year.

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.

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