California Public Employees Retirement System Trims Stake in HubSpot, Inc. (NYSE:HUBS)

California Public Employees Retirement System trimmed its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 4.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,442 shares of the software maker's stock after selling 3,974 shares during the quarter. California Public Employees Retirement System owned about 0.15% of HubSpot worth $54,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in HUBS. Schroder Investment Management Group lifted its stake in HubSpot by 41.5% in the fourth quarter. Schroder Investment Management Group now owns 7,915 shares of the software maker's stock valued at $5,537,000 after buying an additional 2,320 shares during the period. Arrowstreet Capital Limited Partnership bought a new stake in shares of HubSpot in the 4th quarter valued at $54,829,000. Allstate Corp acquired a new position in shares of HubSpot during the 4th quarter valued at $1,006,000. Orion Portfolio Solutions LLC boosted its stake in HubSpot by 1.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 3,861 shares of the software maker's stock worth $2,690,000 after acquiring an additional 66 shares in the last quarter. Finally, Norges Bank acquired a new stake in HubSpot in the fourth quarter worth $420,345,000. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HUBS shares. Bank of America increased their price objective on shares of HubSpot from $780.00 to $850.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Raymond James raised their price objective on HubSpot from $750.00 to $980.00 and gave the company an "outperform" rating in a research note on Thursday, February 13th. Needham & Company LLC upped their target price on HubSpot from $730.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Barclays upgraded HubSpot from an "equal weight" rating to an "overweight" rating and set a $815.00 target price on the stock in a report on Wednesday, March 12th. Finally, BMO Capital Markets lifted their price target on shares of HubSpot from $690.00 to $885.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $848.58.

Insiders Place Their Bets

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the sale, the insider now owns 527,233 shares of the company's stock, valued at approximately $320,283,502.84. This represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the transaction, the chief executive officer now owns 72,373 shares of the company's stock, valued at approximately $41,536,312.16. This represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,382 shares of company stock worth $13,415,657 over the last quarter. 4.50% of the stock is currently owned by company insiders.

HubSpot Price Performance

Shares of HubSpot stock traded down $27.00 on Friday, reaching $500.79. 1,393,357 shares of the company traded hands, compared to its average volume of 604,703. The firm has a market capitalization of $26.12 billion, a PE ratio of 5,564.93, a PEG ratio of 41.44 and a beta of 1.82. The company has a 50 day moving average of $688.31 and a 200 day moving average of $662.23. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 earnings per share 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%. As a group, 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.