Federated Hermes Inc. Cuts Holdings in HubSpot, Inc. (NYSE:HUBS)

Federated Hermes Inc. lowered its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 31.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,095 shares of the software maker’s stock after selling 27,328 shares during the period. Federated Hermes Inc.’s holdings in HubSpot were worth $34,307,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Rakuten Securities Inc. purchased a new stake in shares of HubSpot during the 4th quarter worth $29,000. Venturi Wealth Management LLC raised its holdings in HubSpot by 335.7% in the fourth quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock worth $35,000 after purchasing an additional 47 shares in the last quarter. Quarry LP lifted its position in shares of HubSpot by 333.3% during the first quarter. Quarry LP now owns 91 shares of the software maker’s stock valued at $39,000 after buying an additional 70 shares during the last quarter. Hazlett Burt & Watson Inc. boosted its holdings in shares of HubSpot by 29.2% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 93 shares of the software maker’s stock valued at $55,000 after buying an additional 21 shares in the last quarter. Finally, Alta Advisers Ltd purchased a new position in shares of HubSpot in the 3rd quarter worth approximately $49,000. Institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the sale, the insider now owns 526,041 shares in the company, valued at $334,656,763.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Yamini Rangan sold 2,874 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $627.12, for a total value of $1,802,342.88. Following the completion of the transaction, the chief executive officer now owns 74,784 shares of the company’s stock, valued at approximately $46,898,542.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total value of $5,407,530.00. Following the transaction, the insider now owns 526,041 shares in the company, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,362 shares of company stock valued at $14,012,491. Corporate insiders own 4.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. TheStreet raised shares of HubSpot from a “d+” rating to a “c-” rating in a research report on Thursday, January 4th. BMO Capital Markets raised their price objective on HubSpot from $540.00 to $710.00 and gave the stock an “outperform” rating in a research report on Monday, February 12th. Canaccord Genuity Group upped their target price on HubSpot from $700.00 to $750.00 and gave the company a “buy” rating in a research report on Friday, April 5th. Piper Sandler reissued an “overweight” rating and issued a $675.00 price target on shares of HubSpot in a report on Friday, April 5th. Finally, Truist Financial boosted their price target on HubSpot from $600.00 to $700.00 and gave the stock a “buy” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus target price of $642.36.

HubSpot Trading Down 2.8 %

Shares of HUBS opened at $631.24 on Friday. HubSpot, Inc. has a 52 week low of $399.48 and a 52 week high of $693.85. The stock’s 50-day moving average price is $625.12 and its 200-day moving average price is $553.54. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.96 and a current ratio of 1.96.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.22. The company had revenue of $581.91 million during the quarter, compared to the consensus estimate of $557.48 million. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. As a group, equities analysts predict that HubSpot, Inc. will post -0.98 EPS for the current year.

HubSpot Company Profile

HubSpot, Inc, together with its subsidiaries, provides a cloud-based customer relationship management (CRM) platform for businesses in the Americas, Europe, and the Asia Pacific. The company's CRM platform includes Marketing Hub, a toolset for marketing automation and email, social media, SEO, and reporting and analytics; Sales Hub offers email templates and tracking, conversations and live chat, meeting and call scheduling, lead and website visit alerts, lead scoring, sales automation, pipeline management, quoting, forecasting, and reporting; Service Hub, a service software designed to help businesses manage, respond, and connect with customers; and Content Management Systems Hub enables businesses to create new and edit existing web content.