Truist Financial Corp Has $1.09 Million Stake in GitLab Inc. $GTLB

Truist Financial Corp boosted its position in shares of GitLab Inc. (NASDAQ:GTLB) by 15.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 24,084 shares of the company’s stock after buying an additional 3,186 shares during the period. Truist Financial Corp’s holdings in GitLab were worth $1,086,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GTLB. MetLife Investment Management LLC boosted its stake in shares of GitLab by 3.2% in the 1st quarter. MetLife Investment Management LLC now owns 7,762 shares of the company’s stock valued at $365,000 after purchasing an additional 242 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake in shares of GitLab by 174.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 525 shares of the company’s stock valued at $25,000 after purchasing an additional 334 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of GitLab by 5.3% in the 1st quarter. Park Avenue Securities LLC now owns 7,601 shares of the company’s stock valued at $357,000 after purchasing an additional 381 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of GitLab by 114.2% in the 1st quarter. GAMMA Investing LLC now owns 919 shares of the company’s stock valued at $43,000 after purchasing an additional 490 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in shares of GitLab by 7.2% in the 1st quarter. Amalgamated Bank now owns 8,537 shares of the company’s stock valued at $401,000 after purchasing an additional 571 shares in the last quarter. 95.04% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on GTLB. Zacks Research upgraded shares of GitLab from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 8th. Rosenblatt Securities reiterated a “buy” rating and issued a $58.00 price objective on shares of GitLab in a report on Thursday, September 4th. Raymond James Financial dropped their price objective on shares of GitLab from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, September 4th. KeyCorp dropped their price objective on shares of GitLab from $60.00 to $53.00 and set an “overweight” rating for the company in a report on Thursday, September 4th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $55.00 price objective on shares of GitLab in a report on Thursday, September 4th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, GitLab presently has an average rating of “Moderate Buy” and a consensus target price of $58.83.

Insider Activity

In other GitLab news, Director Matthew Jacobson sold 396,147 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $50.53, for a total transaction of $20,017,307.91. Following the completion of the transaction, the director owned 73,299 shares in the company, valued at approximately $3,703,798.47. This trade represents a 84.39% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sytse Sijbrandij sold 108,600 shares of the firm’s stock in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $45.16, for a total transaction of $4,904,376.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,224,362 shares of company stock worth $59,723,796 in the last 90 days. 21.36% of the stock is owned by company insiders.

GitLab Stock Performance

GitLab stock opened at $44.61 on Monday. GitLab Inc. has a 52-week low of $37.90 and a 52-week high of $74.18. The firm has a 50 day moving average price of $46.08 and a two-hundred day moving average price of $45.75. The firm has a market cap of $7.44 billion, a price-to-earnings ratio of -1,115.25 and a beta of 0.73.

GitLab (NASDAQ:GTLB) last released its quarterly earnings results on Wednesday, September 3rd. The company reported ($0.03) earnings per share (EPS) 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 the consensus estimate of $227.20 million. During the same quarter in the previous year, the business posted $0.15 EPS. The firm’s revenue for the quarter was up 29.2% compared to the same quarter last year. 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, equities research analysts predict that GitLab Inc. will post -0.31 EPS for the current fiscal year.

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.