Fred Alger Management LLC Grows Position in HubSpot, Inc. (NYSE:HUBS)

Fred Alger Management LLC raised its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 3.9% during the 4th quarter, HoldingsChannel.com reports. The firm owned 10,725 shares of the software maker’s stock after acquiring an additional 402 shares during the quarter. Fred Alger Management LLC’s holdings in HubSpot were worth $7,473,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in HUBS. B.O.S.S. Retirement Advisors LLC acquired a new position in shares of HubSpot in the fourth quarter valued at approximately $1,361,000. Oak Harvest Investment Services purchased a new stake in HubSpot during the fourth quarter worth $2,065,000. Donoghue Forlines LLC acquired a new position in shares of HubSpot in the fourth quarter worth $2,049,000. Mayflower Financial Advisors LLC purchased a new stake in shares of HubSpot in the fourth quarter valued at $862,000. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of HubSpot by 1.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the software maker’s stock worth $2,262,000 after buying an additional 49 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Yamini Rangan sold 680 shares of the firm’s stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 71,693 shares in the company, valued at approximately $43,015,800. This trade represents a 0.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the sale, the insider now owns 527,233 shares of the company’s stock, valued at $320,283,502.84. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,562 shares of company stock worth $18,401,757. Corporate insiders own 4.50% of the company’s stock.

HubSpot Stock Up 2.6 %

HUBS opened at $660.73 on Friday. The business has a fifty day moving average of $586.65 and a 200 day moving average of $666.06. The stock has a market cap of $34.78 billion, a P/E ratio of 7,342.20, a PEG ratio of 41.44 and a beta of 1.78. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. Equities analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on HUBS shares. Citigroup increased their price objective on shares of HubSpot from $750.00 to $900.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Morgan Stanley cut their target price on shares of HubSpot from $898.00 to $659.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Mizuho cut their price target on HubSpot from $900.00 to $700.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. upped their target price on shares of HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Finally, UBS Group upgraded shares of HubSpot from a “neutral” rating to a “buy” rating and dropped their target price for the company from $775.00 to $675.00 in a research report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $777.44.

HubSpot Company Profile

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.