GitLab Inc. (NASDAQ:GTLB) Shares Bought by Keybank National Association OH

Keybank National Association OH lifted its holdings in GitLab Inc. (NASDAQ:GTLBFree Report) by 29.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 8,683 shares of the company’s stock after purchasing an additional 1,981 shares during the period. Keybank National Association OH’s holdings in GitLab were worth $393,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Quantbot Technologies LP lifted its position in GitLab by 72.3% in the 3rd quarter. Quantbot Technologies LP now owns 48,861 shares of the company’s stock valued at $2,209,000 after purchasing an additional 20,500 shares during the last quarter. JPMorgan Chase & Co. lifted its position in GitLab by 654.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 786,322 shares of the company’s stock valued at $40,189,000 after purchasing an additional 682,138 shares during the last quarter. SQN Investors LP bought a new stake in GitLab in the 2nd quarter valued at about $12,609,000. Guggenheim Capital LLC bought a new stake in GitLab in the 2nd quarter valued at about $693,000. Finally, Zweig DiMenna Associates LLC increased its stake in GitLab by 104.1% during the 3rd quarter. Zweig DiMenna Associates LLC now owns 67,750 shares of the company’s stock valued at $3,064,000 after buying an additional 34,550 shares during the period. 54.15% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GTLB. Royal Bank of Canada raised their target price on shares of GitLab from $62.00 to $70.00 and gave the company an “outperform” rating in a research note on Tuesday, December 5th. Cantor Fitzgerald raised their target price on shares of GitLab from $55.00 to $65.00 and gave the company an “overweight” rating in a research note on Tuesday, December 5th. BTIG Research began coverage on shares of GitLab in a research note on Monday, November 13th. They set a “buy” rating and a $56.00 target price on the stock. JPMorgan Chase & Co. lifted their price objective on shares of GitLab from $48.00 to $55.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 5th. Finally, Raymond James began coverage on shares of GitLab in a research note on Wednesday, November 29th. They issued a “market perform” rating on the stock. Seven research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $63.89.

Read Our Latest Stock Report on GitLab

GitLab Trading Up 2.5 %

NASDAQ GTLB opened at $72.75 on Thursday. The company has a 50 day moving average price of $63.83 and a two-hundred day moving average price of $52.40. GitLab Inc. has a 12-month low of $26.24 and a 12-month high of $75.16.

GitLab (NASDAQ:GTLBGet Free Report) last released its quarterly earnings results on Monday, December 4th. The company reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.10. GitLab had a negative net margin of 79.11% and a negative return on equity of 19.66%. The company had revenue of $149.67 million for the quarter, compared to analyst estimates of $141.54 million. During the same quarter last year, the firm posted ($0.33) earnings per share. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. As a group, analysts anticipate that GitLab Inc. will post -0.89 EPS for the current fiscal year.

Insider Activity

In related news, insider Robin Schulman sold 15,712 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the transaction, the insider now owns 60,132 shares of the company’s stock, valued at $4,511,102.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Brian G. Robins sold 75,000 shares of the business’s stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $70.59, for a total transaction of $5,294,250.00. Following the transaction, the chief financial officer now owns 332,300 shares of the company’s stock, valued at $23,457,057. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robin Schulman sold 15,712 shares of the business’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $75.02, for a total transaction of $1,178,714.24. Following the completion of the sale, the insider now directly owns 60,132 shares in the company, valued at approximately $4,511,102.64. The disclosure for this sale can be found here. Insiders have sold a total of 2,152,589 shares of company stock valued at $132,921,780 over the last 90 days. 28.04% of the stock is currently owned by company insiders.

GitLab Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for GitLab (NASDAQ:GTLB)

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