Fisher Asset Management LLC Decreases Position in HubSpot, Inc. $HUBS

Fisher Asset Management LLC reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 8.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,475 shares of the software maker’s stock after selling 4,891 shares during the quarter. Fisher Asset Management LLC owned 0.10% of HubSpot worth $28,653,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Whittier Trust Co. boosted its holdings in HubSpot by 136.4% in the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after acquiring an additional 30 shares during the period. Hilltop National Bank purchased a new position in shares of HubSpot in the second quarter valued at $32,000. Atlantic Union Bankshares Corp purchased a new stake in HubSpot during the 2nd quarter worth $39,000. S Bank Fund Management Ltd purchased a new stake in HubSpot during the 1st quarter worth $46,000. Finally, Golden State Wealth Management LLC lifted its holdings in HubSpot by 1,057.1% in the 2nd quarter. Golden State Wealth Management LLC now owns 81 shares of the software maker’s stock worth $45,000 after buying an additional 74 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HUBS shares. Truist Financial dropped their target price on HubSpot from $675.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Evercore ISI set a $500.00 price objective on HubSpot in a report on Thursday, November 6th. Canaccord Genuity Group reduced their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of HubSpot from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, UBS Group set a $500.00 price objective on shares of HubSpot in a research note on Friday, November 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and a consensus price target of $617.23.

HubSpot Price Performance

Shares of HUBS opened at $373.58 on Wednesday. The stock has a market capitalization of $19.57 billion, a PE ratio of -4,669.76, a price-to-earnings-growth ratio of 12.66 and a beta of 1.46. The business’s fifty day moving average price is $432.81 and its 200 day moving average price is $495.98. HubSpot, Inc. has a 12-month low of $344.41 and a 12-month high of $881.13.

HubSpot (NYSE:HUBS) last issued its earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The company had revenue of $809.52 million for the quarter, compared to analysts’ expectations of $786.80 million. During the same period in the prior year, the company earned $2.18 earnings per share. The firm’s revenue was up 20.9% compared to the same quarter last year. As a group, research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $368.11, for a total transaction of $3,128,935.00. Following the sale, the director directly owned 504,966 shares in the company, valued at approximately $185,883,034.26. This represents a 1.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the firm’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $307,500.00. Following the completion of the sale, the chief financial officer directly owned 38,794 shares in the company, valued at approximately $19,397,000. This trade represents a 1.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 51,098 shares of company stock worth $24,062,552. 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.