Huntington National Bank Has $6.62 Million Holdings in GitLab Inc. (NASDAQ:GTLB)

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

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC boosted its holdings in GitLab by 5,700.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 522 shares of the company’s stock valued at $29,000 after purchasing an additional 513 shares during the period. IMG Wealth Management Inc. bought a new stake in shares of GitLab in the fourth quarter valued at about $46,000. Raleigh Capital Management Inc. acquired a new stake in GitLab during the fourth quarter worth about $66,000. Smartleaf Asset Management LLC increased its stake in GitLab by 1,067.6% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,261 shares of the company’s stock valued at $71,000 after acquiring an additional 1,153 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its holdings in GitLab by 4,273.3% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,312 shares of the company’s stock valued at $74,000 after acquiring an additional 1,282 shares in the last quarter. Institutional investors own 95.04% of the company’s stock.

GitLab Trading Up 1.4 %

GitLab stock opened at $48.33 on Thursday. The firm has a market capitalization of $7.84 billion, a P/E ratio of -151.03 and a beta of 0.67. The business has a 50-day moving average of $60.72 and a 200-day moving average of $59.04. GitLab Inc. has a 1 year low of $40.72 and a 1 year high of $74.18.

Insider Activity 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 transaction, the chief financial officer now owns 267,380 shares of the company’s stock, valued at $18,938,525.40. The trade was a 3.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Jacobson sold 152,884 shares of the company’s stock in a transaction on Monday, March 24th. The shares were sold at an average price of $52.34, for a total transaction of $8,001,948.56. Following the completion of the sale, the director now owns 493,554 shares of the company’s stock, valued at approximately $25,832,616.36. This represents a 23.65 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 311,886 shares of company stock worth $17,736,229. 21.36% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

GTLB has been the topic of several recent research reports. Scotiabank lifted their price objective on GitLab from $65.00 to $75.00 and gave the stock a “sector outperform” rating in a report on Wednesday, December 4th. Morgan Stanley raised their target price on GitLab from $70.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. lowered their price target on shares of GitLab from $65.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of GitLab in a research note on Tuesday, March 4th. Finally, KeyCorp lifted their target price on shares of GitLab from $74.00 to $80.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $75.09.

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.