Y Intercept Hong Kong Ltd Has $16.43 Million Stake in HubSpot, Inc. $HUBS

Y Intercept Hong Kong Ltd boosted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 169.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 29,520 shares of the software maker’s stock after buying an additional 18,568 shares during the quarter. HubSpot comprises 0.4% of Y Intercept Hong Kong Ltd’s portfolio, making the stock its 21st biggest holding. Y Intercept Hong Kong Ltd owned 0.06% of HubSpot worth $16,432,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. GAMMA Investing LLC grew its position 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 last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of HubSpot in the first quarter valued at about $235,000. Golden State Wealth Management LLC grew its position in shares of HubSpot by 1,840.0% in the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker’s stock valued at $55,000 after purchasing an additional 92 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of HubSpot by 11.4% in the first quarter. Sequoia Financial Advisors LLC now owns 936 shares of the software maker’s stock valued at $535,000 after purchasing an additional 96 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of HubSpot by 11.9% in the first quarter. Illinois Municipal Retirement Fund now owns 11,615 shares of the software maker’s stock valued at $6,636,000 after purchasing an additional 1,235 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Trading Down 1.3%

NYSE:HUBS opened at $469.72 on Monday. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The firm has a 50 day moving average of $475.71 and a 200-day moving average of $533.16. The stock has a market capitalization of $24.75 billion, a P/E ratio of -2,042.26, a price-to-earnings-growth ratio of 16.11 and a beta of 1.58.

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

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,387 shares of HubSpot 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 of the company’s stock, valued at approximately $28,138,500. The trade was a 4.07% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction 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 $19,397,000. This represents a 1.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 50,863 shares of company stock worth $24,641,332 over the last quarter. 4.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

HUBS has been the topic of several research analyst reports. Citigroup lowered their price target on HubSpot from $700.00 to $650.00 and set a “buy” rating on the stock in a research report on Friday, August 8th. JPMorgan Chase & Co. decreased their target price on HubSpot from $775.00 to $675.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. Stifel Nicolaus decreased their target price on HubSpot from $650.00 to $600.00 and set a “buy” rating on the stock in a research report on Tuesday, October 21st. Piper Sandler initiated coverage on HubSpot in a research report on Thursday, September 4th. They set an “overweight” rating and a $675.00 target price on the stock. Finally, Needham & Company LLC reissued a “buy” rating and set a $900.00 target price on shares of HubSpot in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $717.75.

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.