Bank of New York Mellon Corp Raises Position in HubSpot, Inc. (NYSE:HUBS)

Bank of New York Mellon Corp raised its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 674,523 shares of the software maker's stock after buying an additional 24,799 shares during the quarter. Bank of New York Mellon Corp owned about 1.31% of HubSpot worth $469,987,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HUBS. Sequoia Financial Advisors LLC raised its stake in HubSpot by 16.9% during the third quarter. Sequoia Financial Advisors LLC now owns 690 shares of the software maker's stock valued at $367,000 after buying an additional 100 shares during the last quarter. Ballentine Partners LLC raised its stake in HubSpot by 8.5% during the third quarter. Ballentine Partners LLC now owns 539 shares of the software maker's stock valued at $287,000 after buying an additional 42 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in HubSpot by 34.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,334 shares of the software maker's stock valued at $3,395,000 after buying an additional 1,626 shares during the last quarter. Forsta AP Fonden raised its stake in HubSpot by 11.5% during the third quarter. Forsta AP Fonden now owns 10,700 shares of the software maker's stock valued at $5,688,000 after buying an additional 1,100 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its stake in HubSpot by 50.5% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 3,197 shares of the software maker's stock valued at $1,699,000 after buying an additional 1,073 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Stock Up 1.6 %

NYSE:HUBS traded up $11.27 during mid-day trading on Friday, hitting $724.46. 586,082 shares of the company traded hands, compared to its average volume of 504,687. The stock's fifty day moving average price is $739.69 and its 200-day moving average price is $640.38. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The firm has a market cap of $37.78 billion, a price-to-earnings ratio of 8,050.45, a price-to-earnings-growth ratio of 41.44 and a beta of 1.72.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. Equities analysts predict that HubSpot, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have issued reports on HUBS shares. Piper Sandler lifted their price objective on HubSpot from $640.00 to $808.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Raymond James boosted their price target on HubSpot from $750.00 to $980.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. The Goldman Sachs Group boosted their price target on HubSpot from $783.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Truist Financial restated a "buy" rating and issued a $900.00 price target (up previously from $750.00) on shares of HubSpot in a research note on Thursday, February 13th. Finally, Canaccord Genuity Group boosted their price target on HubSpot from $710.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, HubSpot currently has an average rating of "Moderate Buy" and a consensus target price of $863.96.

Insider Transactions at HubSpot

In related news, CTO Dharmesh Shah sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $739.89, for a total value of $18,497,250.00. Following the sale, the chief technology officer now directly owns 1,272,077 shares in the company, valued at approximately $941,197,051.53. The trade was a 1.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, December 17th. The stock was sold at an average price of $729.65, for a total value of $6,202,025.00. Following the completion of the sale, the insider now owns 513,698 shares in the company, valued at $374,819,745.70. This represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,112 shares of company stock valued at $35,878,612 over the last 90 days. Company insiders own 4.50% of the company's stock.

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.