Jennison Associates LLC Boosts Position in HubSpot, Inc. $HUBS

Jennison Associates LLC boosted its position in shares of HubSpot, Inc. (NYSE:HUBS) by 548.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 794,677 shares of the software maker’s stock after acquiring an additional 672,158 shares during the quarter. Jennison Associates LLC owned 1.51% of HubSpot worth $442,341,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Private Trust Co. NA increased its position in HubSpot by 481.5% during the first quarter. Private Trust Co. NA now owns 157 shares of the software maker’s stock valued at $90,000 after acquiring an additional 130 shares during the last quarter. Moody Lynn & Lieberson LLC increased its position in HubSpot by 2,038.1% during the second quarter. Moody Lynn & Lieberson LLC now owns 20,953 shares of the software maker’s stock valued at $11,663,000 after acquiring an additional 19,973 shares during the last quarter. Acadian Asset Management LLC increased its position in HubSpot by 15.0% during the first quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker’s stock valued at $2,888,000 after acquiring an additional 660 shares during the last quarter. Nordea Investment Management AB increased its position in HubSpot by 74.4% during the second quarter. Nordea Investment Management AB now owns 16,043 shares of the software maker’s stock valued at $8,921,000 after acquiring an additional 6,846 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker’s stock valued at $16,427,000 after acquiring an additional 1,276 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Down 0.5%

Shares of HUBS opened at $469.58 on Wednesday. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The business has a 50-day simple moving average of $476.70 and a two-hundred day simple moving average of $532.27. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of -2,041.67, a PEG ratio of 16.31 and a beta of 1.58.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $760.87 million during the quarter, compared to analysts’ expectations of $739.94 million. During the same quarter last year, the business posted $1.94 earnings per share. The firm’s revenue was up 19.4% on a year-over-year basis. On average, equities analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Kathryn Bueker sold 615 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $307,500.00. Following the completion of the sale, the chief financial officer owned 38,794 shares in the company, valued at approximately $19,397,000. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $501.60, for a total value of $2,381,095.20. Following the sale, the chief technology officer owned 1,271,058 shares of the company’s stock, valued at $637,562,692.80. This represents a 0.37% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 50,863 shares of company stock worth $24,641,332. Company insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on HUBS. Canaccord Genuity Group reduced their price objective on HubSpot from $765.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. UBS Group restated an “outperform” rating on shares of HubSpot in a research report on Wednesday, September 3rd. KeyCorp reduced their price target on HubSpot from $860.00 to $775.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Sanford C. Bernstein upgraded HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price target for the company in a research report on Wednesday, September 3rd. Finally, BMO Capital Markets reduced their price target on HubSpot from $600.00 to $550.00 and set an “outperform” rating for the company in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.75.

HubSpot 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.