1832 Asset Management L.P. Decreases Position in HubSpot, Inc. $HUBS

1832 Asset Management L.P. lessened its stake in HubSpot, Inc. (NYSE:HUBS) by 94.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,941 shares of the software maker’s stock after selling 80,059 shares during the quarter. 1832 Asset Management L.P.’s holdings in HubSpot were worth $2,750,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of HUBS. US Bancorp DE lifted its position in shares of HubSpot by 6.8% during the 1st quarter. US Bancorp DE now owns 2,808 shares of the software maker’s stock valued at $1,604,000 after buying an additional 178 shares during the last quarter. Wealthspire Advisors LLC bought a new position in HubSpot during the first quarter worth about $223,000. Vanguard Group Inc. increased its stake in shares of HubSpot by 4.0% in the first quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker’s stock worth $2,997,407,000 after purchasing an additional 201,994 shares in the last quarter. ASR Vermogensbeheer N.V. purchased a new position in shares of HubSpot in the first quarter worth about $2,134,000. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of HubSpot by 9.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 224,771 shares of the software maker’s stock valued at $128,409,000 after buying an additional 19,168 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Wall Street Zen upgraded shares of HubSpot from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Canaccord Genuity Group reduced their price target on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Mizuho dropped their price objective on HubSpot from $700.00 to $550.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Barclays reduced their target price on HubSpot from $675.00 to $575.00 and set an “overweight” rating for the company in a report on Thursday, November 6th. Finally, The Goldman Sachs Group decreased their price target on HubSpot from $717.00 to $612.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $617.23.

HubSpot Stock Up 0.6%

Shares of HubSpot stock opened at $379.25 on Friday. The firm has a market cap of $19.87 billion, a PE ratio of -4,740.68, a price-to-earnings-growth ratio of 12.79 and a beta of 1.46. HubSpot, Inc. has a 12-month low of $344.41 and a 12-month high of $881.13. The company’s fifty day simple moving average is $424.60 and its two-hundred day simple moving average is $492.45.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data 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. The firm had revenue of $809.52 million for the quarter, compared to analyst estimates of $786.80 million. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period last year, the company earned $2.18 EPS. As a group, sell-side analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction that occurred on Monday, October 6th. The shares were 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 $19,397,000. The trade was a 1.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Dharmesh Shah sold 4,747 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total transaction of $2,381,095.20. Following the transaction, the chief technology officer directly owned 1,271,058 shares of the company’s stock, valued at $637,562,692.80. The trade was a 0.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 51,098 shares of company stock valued at $24,062,552 in the last quarter. 4.00% of the stock is owned by company insiders.

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.