Blue Trust Inc. Grows Stake in HubSpot, Inc. $HUBS

Blue Trust Inc. raised its stake in HubSpot, Inc. (NYSE:HUBS) by 24.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 862 shares of the software maker’s stock after purchasing an additional 169 shares during the quarter. Blue Trust Inc.’s holdings in HubSpot were worth $480,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in HUBS. Private Trust Co. NA increased its position in shares of HubSpot by 481.5% during the first quarter. Private Trust Co. NA now owns 157 shares of the software maker’s stock worth $90,000 after acquiring an additional 130 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in shares of HubSpot by 2,038.1% during the second quarter. Moody Lynn & Lieberson LLC now owns 20,953 shares of the software maker’s stock worth $11,663,000 after acquiring an additional 19,973 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of HubSpot by 15.0% during the first quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker’s stock worth $2,888,000 after acquiring an additional 660 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker’s stock worth $16,427,000 after acquiring an additional 1,276 shares during the last quarter. Finally, 111 Capital increased its position in shares of HubSpot by 83.4% during the second quarter. 111 Capital now owns 1,579 shares of the software maker’s stock worth $879,000 after acquiring an additional 718 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Stock Down 3.1%

Shares of HUBS stock opened at $438.97 on Monday. The business has a 50 day moving average of $475.29 and a two-hundred day moving average of $538.76. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The company has a market cap of $23.13 billion, a P/E ratio of -1,908.57, a PEG ratio of 15.16 and a beta of 1.58.

HubSpot (NYSE:HUBS) last issued its 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 in the previous year, the firm posted $1.94 earnings per share. HubSpot’s quarterly revenue was up 19.4% compared to the same quarter last year. Analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. UBS Group reaffirmed an “outperform” rating on shares of HubSpot in a research report on Wednesday, September 3rd. BMO Capital Markets dropped their target price on HubSpot from $650.00 to $600.00 and set an “outperform” rating on the stock in a research report on Thursday, August 7th. Weiss Ratings reissued a “sell (d-)” rating on shares of HubSpot in a report on Saturday, September 27th. Piper Sandler assumed coverage on HubSpot in a report on Thursday, September 4th. They issued an “overweight” rating and a $675.00 price objective for the company. Finally, Sanford C. Bernstein raised HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price objective for the company in a report on Wednesday, September 3rd. One 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 issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $723.11.

Insider Buying and Selling

In other HubSpot news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the transaction, the director directly owned 522,435 shares in the company, valued at $235,012,160.40. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 2,387 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 $1,193,500.00. Following the completion of the transaction, the chief executive officer owned 56,277 shares of the company’s stock, valued at approximately $28,138,500. The trade was a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 51,098 shares of company stock valued at $25,563,137. 4.00% of the stock is currently owned by 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.