Huntington National Bank Buys 28,927 Shares of GitLab Inc. $GTLB

Huntington National Bank raised its stake in GitLab Inc. (NASDAQ:GTLB) by 24.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146,494 shares of the company’s stock after purchasing an additional 28,927 shares during the quarter. Huntington National Bank owned approximately 0.09% of GitLab worth $6,608,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. increased its holdings in GitLab by 174.9% during the first quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock worth $25,000 after buying an additional 334 shares during the last quarter. Twin Tree Management LP acquired a new position in GitLab during the first quarter worth $29,000. Harbour Investments Inc. increased its holdings in GitLab by 447.6% during the first quarter. Harbour Investments Inc. now owns 898 shares of the company’s stock worth $42,000 after buying an additional 734 shares during the last quarter. GAMMA Investing LLC increased its holdings in GitLab by 114.2% during the first quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock worth $43,000 after buying an additional 490 shares during the last quarter. Finally, Byrne Asset Management LLC acquired a new position in GitLab during the second quarter worth $61,000. 95.04% of the stock is currently owned by institutional investors.

GitLab Trading Down 8.9%

NASDAQ:GTLB opened at $46.50 on Wednesday. The stock has a market cap of $7.75 billion, a P/E ratio of -1,162.50 and a beta of 0.74. The stock has a 50 day simple moving average of $47.59 and a 200 day simple moving average of $46.18. GitLab Inc. has a 1-year low of $37.90 and a 1-year high of $74.18.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.19). GitLab had a negative return on equity of 2.71% and a negative net margin of 0.55%.The firm had revenue of $236.00 million for the quarter, compared to analyst estimates of $227.20 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. GitLab has set its FY 2026 guidance at 0.820-0.830 EPS. Q3 2026 guidance at 0.190-0.200 EPS. As a group, sell-side analysts forecast that GitLab Inc. will post -0.31 EPS for the current year.

Insider Buying and Selling at GitLab

In related news, Director Sytse Sijbrandij sold 108,600 shares of the company’s stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $45.16, for a total value of $4,904,376.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Karen Blasing sold 3,250 shares of the company’s stock in a transaction dated Wednesday, October 15th. The shares were sold at an average price of $45.26, for a total transaction of $147,095.00. Following the completion of the transaction, the director owned 97,389 shares in the company, valued at $4,407,826.14. This trade represents a 3.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 1,224,362 shares of company stock valued at $59,828,897. 21.36% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GTLB. Weiss Ratings restated a “sell (e+)” rating on shares of GitLab in a report on Wednesday, October 8th. UBS Group lowered their target price on shares of GitLab from $73.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, September 4th. DA Davidson lowered their target price on shares of GitLab from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, September 4th. FBN Securities upgraded shares of GitLab to a “strong-buy” rating in a report on Thursday, September 4th. Finally, Guggenheim initiated coverage on shares of GitLab in a report on Thursday, September 11th. They issued a “buy” rating and a $70.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $58.83.

GitLab Company 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.