OFI Invest Asset Management Has $20.24 Million Position in HubSpot, Inc. $HUBS

OFI Invest Asset Management grew its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 2,206.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 43,274 shares of the software maker’s stock after acquiring an additional 41,398 shares during the period. OFI Invest Asset Management’s holdings in HubSpot were worth $20,244,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC boosted its position in HubSpot by 55.8% during the third quarter. Exchange Traded Concepts LLC now owns 10,171 shares of the software maker’s stock valued at $4,758,000 after purchasing an additional 3,643 shares during the last quarter. Brighton Jones LLC lifted its holdings in shares of HubSpot by 37.9% during the 3rd quarter. Brighton Jones LLC now owns 3,716 shares of the software maker’s stock valued at $1,738,000 after buying an additional 1,022 shares during the last quarter. Evanson Asset Management LLC bought a new stake in shares of HubSpot in the 3rd quarter valued at approximately $499,000. Matauro LLC acquired a new position in HubSpot in the third quarter worth approximately $561,000. Finally, Perpetual Ltd raised its position in HubSpot by 18.4% during the third quarter. Perpetual Ltd now owns 1,592 shares of the software maker’s stock valued at $745,000 after acquiring an additional 247 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBS has been the subject of several recent research reports. BMO Capital Markets decreased their target price on shares of HubSpot from $550.00 to $465.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. Sanford C. Bernstein raised shares of HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price objective for the company in a research note on Wednesday, September 3rd. The Goldman Sachs Group lowered their target price on shares of HubSpot from $717.00 to $612.00 and set a “buy” rating on the stock in a research report on Friday, November 7th. Stifel Nicolaus reduced their price target on HubSpot from $600.00 to $550.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Wall Street Zen raised HubSpot from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and a consensus price target of $613.45.

HubSpot Price Performance

HUBS stock opened at $399.78 on Tuesday. HubSpot, Inc. has a 52-week low of $344.41 and a 52-week high of $881.13. The company has a 50-day moving average of $408.23 and a two-hundred day moving average of $473.44. The stock has a market capitalization of $20.94 billion, a price-to-earnings ratio of -4,997.25, a price-to-earnings-growth ratio of 13.21 and a beta of 1.46.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a positive return on equity of 1.21% and a negative net margin of 0.12%.The business had revenue of $809.52 million for the quarter, compared to analyst estimates of $786.80 million. During the same period in the previous year, the company posted $2.18 earnings per share. The firm’s revenue for the quarter was up 20.9% on a year-over-year basis. Equities analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity

In other HubSpot news, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $307,500.00. Following the sale, the chief financial officer directly owned 38,794 shares of the company’s stock, valued at approximately $19,397,000. The trade was a 1.56% 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, CEO Yamini Rangan sold 2,387 shares of the business’s stock in a transaction on Monday, October 6th. The shares were sold at an average price of $500.00, for a total transaction of $1,193,500.00. Following the completion of the sale, the chief executive officer owned 56,277 shares in the company, valued at $28,138,500. This represents a 4.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 28,502 shares of company stock worth $11,559,565. Corporate insiders own 4.00% of the company’s stock.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.