Citigroup Inc. Buys 12,527 Shares of HubSpot, Inc. $HUBS

Citigroup Inc. increased its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 32.7% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,846 shares of the software maker’s stock after acquiring an additional 12,527 shares during the quarter. Citigroup Inc. owned about 0.10% of HubSpot worth $23,786,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of HUBS. Vanguard Group Inc. lifted its stake in HubSpot by 6.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock worth $2,683,659,000 after purchasing an additional 345,524 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of HubSpot by 4.3% in the second quarter. Geode Capital Management LLC now owns 925,938 shares of the software maker’s stock worth $513,886,000 after purchasing an additional 38,096 shares during the last quarter. Norges Bank purchased a new stake in shares of HubSpot in the second quarter worth about $269,941,000. Alliancebernstein L.P. boosted its stake in HubSpot by 35.0% during the second quarter. Alliancebernstein L.P. now owns 376,076 shares of the software maker’s stock valued at $209,335,000 after buying an additional 97,469 shares during the last quarter. Finally, Legal & General Group Plc boosted its stake in HubSpot by 2.1% during the second quarter. Legal & General Group Plc now owns 342,617 shares of the software maker’s stock valued at $190,711,000 after buying an additional 7,037 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Price Performance

Shares of NYSE HUBS opened at $268.64 on Friday. HubSpot, Inc. has a 1 year low of $207.20 and a 1 year high of $734.61. The firm has a 50-day simple moving average of $312.66 and a two-hundred day simple moving average of $396.33. The company has a market cap of $14.17 billion, a P/E ratio of 308.78, a PEG ratio of 3.65 and a beta of 1.44.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share for the quarter, topping the consensus estimate of $2.99 by $0.10. HubSpot had a return on equity of 3.64% and a net margin of 1.47%.The firm had revenue of $846.75 million for the quarter, compared to the consensus estimate of $830.65 million. During the same period in the prior year, the business posted $2.32 earnings per share. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. As a group, equities research analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on HUBS. The Goldman Sachs Group reduced their price objective on HubSpot from $517.00 to $442.00 and set a “buy” rating on the stock in a research note on Thursday, February 12th. Wall Street Zen raised shares of HubSpot from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Rothschild & Co Redburn cut shares of HubSpot from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Truist Financial reduced their target price on shares of HubSpot from $650.00 to $300.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Finally, KeyCorp lowered their price target on shares of HubSpot from $400.00 to $340.00 and set an “overweight” rating for the company in a report on Thursday, February 12th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $452.70.

Insider Buying and Selling at HubSpot

In related news, insider Erika Ashley Fisher sold 841 shares of HubSpot stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total transaction of $200,166.41. Following the completion of the sale, the insider owned 10,119 shares in the company, valued at $2,408,423.19. This trade represents a 7.67% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Brian Halligan sold 8,261 shares of the business’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $253.00, for a total transaction of $2,090,033.00. Following the completion of the sale, the director directly owned 481,168 shares of the company’s stock, valued at approximately $121,735,504. This trade represents a 1.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 26,691 shares of company stock valued at $8,136,702. Corporate insiders own 4.00% of the company’s stock.

About HubSpot

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.