HubSpot, Inc. (NYSE:HUBS) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. cut its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 3.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,631 shares of the software maker’s stock after selling 99 shares during the quarter. PNC Financial Services Group Inc.’s holdings in HubSpot were worth $1,399,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Fred Alger Management LLC boosted its position in shares of HubSpot by 516.2% in the 2nd quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker’s stock valued at $96,307,000 after purchasing an additional 136,793 shares during the period. International Assets Investment Management LLC lifted its stake in HubSpot by 214,342.4% during the third quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker’s stock valued at $672,590,000 after buying an additional 126,462 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of HubSpot by 88.7% in the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock worth $142,468,000 after buying an additional 113,555 shares during the period. Dorsal Capital Management LP purchased a new position in shares of HubSpot in the second quarter worth approximately $44,234,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of HubSpot by 49.5% during the third quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker’s stock valued at $110,489,000 after acquiring an additional 68,827 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Stock Performance

NYSE HUBS opened at $729.83 on Wednesday. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $754.56. The stock has a market cap of $37.68 billion, a PE ratio of -2,703.07, a PEG ratio of 90.27 and a beta of 1.63. The firm has a 50-day simple moving average of $585.02 and a 200 day simple moving average of $553.17.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. The company had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter last year, the company earned ($0.04) EPS. Research analysts forecast that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. The trade was a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dawson Alyssa Harvey sold 573 shares of the stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the completion of the transaction, the insider now directly owns 7,603 shares of the company’s stock, valued at approximately $5,322,100. The trade was a 7.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,391 shares of company stock worth $29,101,488 over the last 90 days. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on HUBS. Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Canaccord Genuity Group raised their target price on HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays upped their price target on HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Piper Sandler lowered HubSpot from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $570.00 to $640.00 in a research report on Thursday, November 7th. Finally, UBS Group upped their target price on HubSpot from $550.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $672.68.

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.