Avantax Advisory Services Inc. Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Avantax Advisory Services Inc. raised its stake in HubSpot, Inc. (NYSE:HUBS) by 68.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902 shares of the software maker’s stock after acquiring an additional 365 shares during the period. Avantax Advisory Services Inc.’s holdings in HubSpot were worth $515,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Wedbush Securities Inc. boosted its position in shares of HubSpot by 3.4% in the 4th quarter. Wedbush Securities Inc. now owns 393 shares of the software maker’s stock valued at $274,000 after purchasing an additional 13 shares during the period. Venturi Wealth Management LLC lifted its stake in HubSpot by 1.1% in the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker’s stock valued at $861,000 after buying an additional 16 shares during the last quarter. WCM Investment Management LLC boosted its holdings in shares of HubSpot by 0.6% in the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker’s stock valued at $1,553,000 after acquiring an additional 17 shares during the period. Yousif Capital Management LLC boosted its holdings in shares of HubSpot by 3.0% in the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker’s stock valued at $378,000 after acquiring an additional 19 shares during the period. Finally, Ballentine Partners LLC grew its position in shares of HubSpot by 3.5% during the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker’s stock worth $334,000 after acquiring an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the business’s stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the transaction, the chief executive officer directly owned 63,918 shares of the company’s stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the company’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares of the company’s stock, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,998 shares of company stock worth $10,928,616. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

HUBS has been the subject of several research reports. Needham & Company LLC reiterated a “buy” rating and issued a $900.00 price target on shares of HubSpot in a research report on Friday, May 9th. Piper Sandler raised their price target on HubSpot from $535.00 to $645.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. Jefferies Financial Group reduced their price objective on HubSpot from $900.00 to $700.00 and set a “buy” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley lifted their price target on HubSpot from $659.00 to $752.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company cut their price objective on HubSpot from $700.00 to $675.00 and set an “overweight” rating for the company in a research report on Monday, June 9th. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $759.04.

HubSpot Stock Performance

Shares of HUBS stock opened at $492.33 on Wednesday. The firm has a market capitalization of $25.97 billion, a price-to-earnings ratio of -1,094.06, a price-to-earnings-growth ratio of 18.27 and a beta of 1.66. The company has a 50 day moving average price of $555.48 and a 200 day moving average price of $617.78. HubSpot, Inc. has a one year low of $448.46 and a one year high of $881.13.

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.