Envestnet Asset Management Inc. Has $34.59 Million Stock Holdings in HubSpot, Inc. $HUBS

Envestnet Asset Management Inc. lessened its position in HubSpot, Inc. (NYSE:HUBS) by 6.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 62,143 shares of the software maker’s stock after selling 4,373 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.12% of HubSpot worth $34,591,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Whittier Trust Co. raised its position in HubSpot by 136.4% in the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Hilltop National Bank acquired a new stake in HubSpot in the 2nd quarter valued at approximately $32,000. Cullen Frost Bankers Inc. raised its position in HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock valued at $34,000 after buying an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new stake in HubSpot in the 1st quarter valued at approximately $35,000. Finally, GW&K Investment Management LLC raised its position in HubSpot by 203.8% in the 1st quarter. GW&K Investment Management LLC now owns 79 shares of the software maker’s stock valued at $45,000 after buying an additional 53 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $491.13 on Monday. The firm has a market cap of $25.88 billion, a P/E ratio of -2,135.33, a PEG ratio of 17.00 and a beta of 1.58. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The business’s 50 day simple moving average is $477.72 and its two-hundred day simple moving average is $531.01.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on HUBS shares. Truist Financial dropped their target price on HubSpot from $720.00 to $675.00 and set a “buy” rating on the stock in a research report on Thursday, August 7th. Piper Sandler began coverage on HubSpot in a research note on Thursday, September 4th. They issued an “overweight” rating and a $675.00 price target for the company. Raymond James Financial decreased their price target on HubSpot from $825.00 to $655.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. UBS Group reiterated an “outperform” rating on shares of HubSpot in a research note on Wednesday, September 3rd. Finally, Wells Fargo & Company started coverage on HubSpot in a research note on Tuesday, September 30th. They set an “overweight” rating and a $685.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, HubSpot has an average rating of “Moderate Buy” and a consensus price target of $718.04.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,265 shares of the firm’s stock in a transaction dated Tuesday, October 21st. The stock was sold at an average price of $446.98, for a total transaction of $3,694,289.70. Following the sale, the director owned 513,466 shares in the company, valued at $229,509,032.68. This trade represents a 1.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of HubSpot stock in a transaction dated Tuesday, September 9th. The stock was 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 owned 1,271,058 shares in the company, valued at approximately $637,562,692.80. This represents a 0.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 50,863 shares of company stock worth $24,641,332 over the last three months. Corporate insiders own 4.00% of the company’s stock.

About HubSpot

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.