Alkeon Capital Management LLC Makes New Investment in HubSpot, Inc. (NYSE:HUBS)

Alkeon Capital Management LLC purchased a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 30,000 shares of the software maker's stock, valued at approximately $15,948,000. Alkeon Capital Management LLC owned 0.06% of HubSpot as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. GDS Wealth Management purchased a new stake in shares of HubSpot during the third quarter worth about $2,149,000. Pallas Capital Advisors LLC acquired a new stake in HubSpot in the 3rd quarter worth approximately $624,000. Headlands Technologies LLC purchased a new stake in HubSpot during the 2nd quarter worth approximately $3,135,000. Icon Wealth Advisors LLC increased its stake in HubSpot by 3,346.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker's stock valued at $11,212,000 after purchasing an additional 20,479 shares in the last quarter. Finally, Curi RMB Capital LLC raised its holdings in shares of HubSpot by 15.1% in the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker's stock worth $3,797,000 after buying an additional 937 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

Shares of NYSE:HUBS traded down $1.34 during midday trading on Friday, reaching $721.42. 174,747 shares of the company's stock traded hands, compared to its average volume of 591,014. The company has a fifty day simple moving average of $597.13 and a two-hundred day simple moving average of $556.38. HubSpot, Inc. has a 1 year low of $434.84 and a 1 year high of $754.56. The company has a market cap of $37.24 billion, a P/E ratio of -2,671.83, a PEG ratio of 87.86 and a beta of 1.63.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.91 by $0.27. The business had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company's revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. As a group, research analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insider Buying and Selling

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the firm's stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total value of $16,815,500.00. Following the transaction, the chief technology officer now owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the company's stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares of the company's stock, valued at $33,009,441.57. The trade was a 0.17 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,391 shares of company stock worth $29,101,488. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of research reports. Evercore ISI lifted their price target on HubSpot from $610.00 to $700.00 and gave the stock an "in-line" rating in a research report on Thursday, November 7th. Canaccord Genuity Group lifted their target price on HubSpot from $600.00 to $710.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Piper Sandler downgraded shares of HubSpot from an "overweight" rating to a "neutral" rating and increased their price target for the stock from $570.00 to $640.00 in a report on Thursday, November 7th. UBS Group lifted their price objective on shares of HubSpot from $550.00 to $650.00 and gave the company a "neutral" rating in a research note on Thursday, November 7th. Finally, Bank of America cut their price objective on shares of HubSpot from $650.00 to $580.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $672.68.

HubSpot Company 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.