Maryland State Retirement & Pension System Raises Holdings in HubSpot, Inc. $HUBS

Maryland State Retirement & Pension System lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 8.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,471 shares of the software maker’s stock after buying an additional 187 shares during the period. Maryland State Retirement & Pension System’s holdings in HubSpot were worth $1,375,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUBS. Farther Finance Advisors LLC boosted its position in shares of HubSpot by 25.1% during the 1st quarter. Farther Finance Advisors LLC now owns 319 shares of the software maker’s stock worth $186,000 after purchasing an additional 64 shares in the last quarter. Yousif Capital Management LLC lifted its stake in shares of HubSpot by 3.0% in the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker’s stock valued at $378,000 after purchasing an additional 19 shares during the period. GAMMA Investing LLC lifted its stake in shares of HubSpot by 41.2% in the first quarter. GAMMA Investing LLC now owns 312 shares of the software maker’s stock valued at $178,000 after purchasing an additional 91 shares during the period. SG Americas Securities LLC lifted its stake in shares of HubSpot by 239.2% in the first quarter. SG Americas Securities LLC now owns 2,147 shares of the software maker’s stock valued at $1,227,000 after purchasing an additional 1,514 shares during the period. Finally, NorthCrest Asset Manangement LLC acquired a new stake in shares of HubSpot in the first quarter valued at about $279,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insiders Place Their Bets

In other news, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, September 16th. The shares were sold at an average price of $506.52, for a total transaction of $4,305,420.00. Following the transaction, the director directly owned 522,185 shares in the company, valued at $264,497,146.20. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $2,381,095.20. Following the transaction, the chief technology officer owned 1,271,058 shares in the company, valued at approximately $637,562,692.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,098 shares of company stock valued at $25,563,137 in the last quarter. Corporate insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on HUBS. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of HubSpot in a report on Saturday, September 27th. Cantor Fitzgerald reiterated an “overweight” rating and set a $775.00 target price on shares of HubSpot in a research report on Friday, October 3rd. Wall Street Zen downgraded HubSpot from a “buy” rating to a “hold” rating in a research report on Friday, October 3rd. Wells Fargo & Company assumed coverage on HubSpot in a research note on Tuesday, September 30th. They set an “overweight” rating and a $685.00 price target for the company. Finally, BMO Capital Markets dropped their target price on shares of HubSpot from $650.00 to $600.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $723.11.

HubSpot Stock Performance

Shares of HUBS opened at $438.97 on Friday. The company has a market capitalization of $23.13 billion, a price-to-earnings ratio of -1,908.57, a PEG ratio of 15.16 and a beta of 1.58. The company’s 50 day simple moving average is $475.29 and its 200 day simple moving average is $539.14. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.HubSpot’s revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 EPS. Equities analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

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.