Janney Montgomery Scott LLC Cuts Position in HubSpot, Inc. $HUBS

Janney Montgomery Scott LLC trimmed its stake in HubSpot, Inc. (NYSE:HUBS) by 3.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,407 shares of the software maker’s stock after selling 229 shares during the period. Janney Montgomery Scott LLC’s holdings in HubSpot were worth $4,123,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Alpine Bank Wealth Management bought a new stake in shares of HubSpot in the 2nd quarter valued at approximately $46,000. Moody Lynn & Lieberson LLC raised its holdings in shares of HubSpot by 2,038.1% in the second quarter. Moody Lynn & Lieberson LLC now owns 20,953 shares of the software maker’s stock worth $11,663,000 after buying an additional 19,973 shares during the period. GraniteShares Advisors LLC raised its holdings in shares of HubSpot by 12.8% in the second quarter. GraniteShares Advisors LLC now owns 959 shares of the software maker’s stock worth $534,000 after buying an additional 109 shares during the period. Public Employees Retirement System of Ohio raised its holdings in shares of HubSpot by 6.5% in the second quarter. Public Employees Retirement System of Ohio now owns 24,350 shares of the software maker’s stock worth $13,554,000 after buying an additional 1,483 shares during the period. Finally, Ballentine Partners LLC raised its holdings in shares of HubSpot by 251.0% in the second quarter. Ballentine Partners LLC now owns 2,050 shares of the software maker’s stock worth $1,141,000 after buying an additional 1,466 shares during the period. 90.39% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, September 16th. The stock was sold at an average price of $506.52, for a total transaction of $4,305,420.00. Following the sale, the director owned 522,185 shares in the company, valued at approximately $264,497,146.20. The trade was a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Dharmesh Shah sold 4,747 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total value of $2,381,095.20. Following the completion of the transaction, the chief technology officer directly owned 1,271,058 shares in the company, valued at $637,562,692.80. This represents a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,096 shares of company stock worth $24,062,137 over the last quarter. Company insiders own 4.00% of the company’s stock.

HubSpot Trading Down 2.8%

Shares of NYSE:HUBS opened at $450.79 on Wednesday. HubSpot, Inc. has a 12-month low of $418.34 and a 12-month high of $881.13. The business’s fifty day simple moving average is $479.40 and its 200-day simple moving average is $542.68. The company has a market capitalization of $23.75 billion, a PE ratio of -1,959.93, a P/E/G ratio of 15.99 and a beta of 1.58.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.07. The firm had revenue of $760.87 million during the quarter, compared to analysts’ expectations of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 EPS. Research analysts predict that HubSpot, Inc. will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on HUBS. KeyCorp reduced their price target on HubSpot from $860.00 to $775.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Wall Street Zen downgraded HubSpot from a “buy” rating to a “hold” rating in a report on Friday, October 3rd. UBS Group reiterated an “outperform” rating on shares of HubSpot in a report on Wednesday, September 3rd. Raymond James Financial reduced their price target on HubSpot from $825.00 to $655.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reduced their price target on HubSpot from $765.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $723.11.

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.