Brown Capital Management LLC Sells 5,222 Shares of HubSpot, Inc. (NYSE:HUBS)

Brown Capital Management LLC cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 54.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,376 shares of the software maker's stock after selling 5,222 shares during the period. Brown Capital Management LLC's holdings in HubSpot were worth $2,326,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. HM Payson & Co. raised its holdings in shares of HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker's stock valued at $36,000 after acquiring an additional 18 shares during the period. Hazlett Burt & Watson Inc. boosted its position in shares of HubSpot by 19.5% in the second quarter. Hazlett Burt & Watson Inc. now owns 153 shares of the software maker's stock worth $91,000 after buying an additional 25 shares during the period. V Square Quantitative Management LLC raised its position in HubSpot by 3.0% during the third quarter. V Square Quantitative Management LLC now owns 929 shares of the software maker's stock valued at $494,000 after buying an additional 27 shares during the period. Jacobs Levy Equity Management Inc. lifted its stake in HubSpot by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,114 shares of the software maker's stock worth $698,000 after acquiring an additional 30 shares in the last quarter. Finally, Quent Capital LLC grew its stake in HubSpot by 13.0% during the 2nd quarter. Quent Capital LLC now owns 261 shares of the software maker's stock valued at $154,000 after acquiring an additional 30 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

HubSpot Stock Performance

Shares of HubSpot stock traded up $23.76 during midday trading on Thursday, reaching $718.24. The company had a trading volume of 556,195 shares, compared to its average volume of 593,453. The stock has a fifty day simple moving average of $565.99 and a 200 day simple moving average of $549.90. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $728.90.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings results 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 analysts' expectations of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm's quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) earnings per share. Sell-side analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on HUBS. Canaccord Genuity Group boosted their target price on HubSpot from $600.00 to $710.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Barclays increased their price target on shares of HubSpot from $500.00 to $650.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. UBS Group raised their target price on HubSpot from $550.00 to $650.00 and gave the company a "neutral" rating in a report on Thursday, November 7th. BMO Capital Markets upped their price target on HubSpot from $570.00 to $690.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $730.00 price objective on shares of HubSpot in a research note on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $672.68.

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. This trade represents a 0.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the transaction, the insider now directly owns 513,698 shares in the company, valued at $339,857,459.82. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,391 shares of company stock worth $29,101,488 in the last quarter. 4.50% of the stock is owned by company insiders.

HubSpot 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.