Allstate Corp Acquires New Shares in HubSpot, Inc. $HUBS

Allstate Corp bought a new position in HubSpot, Inc. (NYSE:HUBS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 1,933 shares of the software maker’s stock, valued at approximately $904,000.

Several other hedge funds have also recently modified their holdings of the business. Goodman Advisory Group LLC purchased a new stake in shares of HubSpot during the second quarter valued at $27,000. 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 worth $29,000 after buying an additional 30 shares during the last quarter. Rakuten Securities Inc. boosted its holdings in shares of HubSpot by 783.3% during the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. Hilltop National Bank bought a new stake in shares of HubSpot in the second quarter worth approximately $32,000. Finally, Osterweis Capital Management Inc. bought a new stake in shares of HubSpot in the second quarter worth approximately $34,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Down 1.0%

NYSE:HUBS opened at $301.82 on Thursday. The business’s 50-day simple moving average is $373.14 and its two-hundred day simple moving average is $444.98. The stock has a market cap of $15.81 billion, a PE ratio of -3,772.69, a P/E/G ratio of 7.21 and a beta of 1.46. HubSpot, Inc. has a 52 week low of $300.09 and a 52 week high of $881.13.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.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 previous year, the firm earned $2.18 EPS. The firm’s revenue was up 20.9% compared to the same quarter last year. Sell-side analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Rothschild & Co Redburn restated a “neutral” rating and issued a $450.00 target price (down previously from $610.00) on shares of HubSpot in a report on Monday, November 10th. Rothschild Redb cut HubSpot from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. BMO Capital Markets dropped their price target on HubSpot from $550.00 to $465.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. UBS Group restated an “outperform” rating and set a $525.00 price target on shares of HubSpot in a research note on Tuesday, January 6th. Finally, Truist Financial lowered their price objective on shares of HubSpot from $675.00 to $650.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. One analyst has rated the stock with a Strong Buy rating, twenty-nine have given a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $603.07.

Insider Activity

In related news, Director Brian Halligan sold 8,500 shares of the firm’s stock in a transaction on Tuesday, December 16th. The stock was sold at an average price of $366.99, for a total value of $3,119,415.00. Following the completion of the sale, the director directly owned 496,308 shares in the company, valued at $182,140,072.92. This trade represents a 1.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Over the last three months, insiders sold 17,235 shares of company stock valued at $6,364,276. 4.00% of the stock is owned by company insiders.

HubSpot Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.