Westfield Capital Management Co. LP Reduces Stock Holdings in HubSpot, Inc. $HUBS

Westfield Capital Management Co. LP lessened its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 24.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,407 shares of the software maker’s stock after selling 41,250 shares during the quarter. Westfield Capital Management Co. LP owned about 0.24% of HubSpot worth $69,805,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Whittier Trust Co. raised its stake in HubSpot by 136.4% during the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Hilltop National Bank purchased a new position in shares of HubSpot during the second quarter worth about $32,000. N.E.W. Advisory Services LLC purchased a new position in shares of HubSpot during the first quarter worth about $35,000. Atlantic Union Bankshares Corp acquired a new stake in shares of HubSpot during the second quarter worth about $39,000. Finally, GW&K Investment Management LLC increased its position in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker’s stock worth $45,000 after purchasing an additional 53 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,387 shares of the company’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $1,193,500.00. Following the sale, the chief executive officer owned 56,277 shares of the company’s stock, valued at approximately $28,138,500. This represents a 4.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Dharmesh Shah sold 17,253 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the completion of the sale, the chief technology officer owned 1,275,805 shares in the company, valued at $638,744,531.30. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 42,598 shares of company stock valued at $20,933,617. Company insiders own 4.00% of the company’s stock.

Wall Street Analyst Weigh In

HUBS has been the subject of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of HubSpot in a research report on Tuesday, October 14th. Rothschild & Co Redburn reiterated a “neutral” rating and issued a $450.00 price objective (down previously from $610.00) on shares of HubSpot in a research note on Monday, November 10th. Barclays lowered their target price on shares of HubSpot from $675.00 to $575.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Needham & Company LLC reduced their price target on shares of HubSpot from $900.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. Finally, Sanford C. Bernstein upgraded shares of HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price target for the company in a research note on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and an average target price of $617.23.

HubSpot Stock Up 2.0%

NYSE:HUBS opened at $369.00 on Thursday. The firm’s fifty day simple moving average is $458.85 and its 200-day simple moving average is $515.12. The stock has a market cap of $19.33 billion, a PE ratio of -4,612.78, a price-to-earnings-growth ratio of 12.49 and a beta of 1.60. HubSpot, Inc. has a fifty-two week low of $356.64 and a fifty-two week high of $881.13.

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