HubSpot, Inc. (NYSE:HUBS) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 127.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,496 shares of the software maker's stock after purchasing an additional 2,520 shares during the period. M&T Bank Corp's holdings in HubSpot were worth $2,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Wellington Management Group LLP grew its holdings in HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker's stock valued at $745,410,000 after buying an additional 480,796 shares in the last quarter. Fred Alger Management LLC grew its holdings in shares of HubSpot by 516.2% in the second quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker's stock valued at $96,307,000 after purchasing an additional 136,793 shares during the period. International Assets Investment Management LLC increased its position in HubSpot by 214,342.4% during the third quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker's stock worth $672,590,000 after purchasing an additional 126,462 shares during the last quarter. Marshall Wace LLP increased its position in HubSpot by 88.7% during the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker's stock worth $142,468,000 after purchasing an additional 113,555 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its stake in HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker's stock worth $303,689,000 after purchasing an additional 86,688 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Transactions at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $597,354.24. Following the sale, the chief financial officer now owns 41,259 shares of the company's stock, valued at approximately $21,695,632.56. The trade was a 2.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 1,507 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $792,440.88. Following the transaction, the chief executive officer now directly owns 62,668 shares of the company's stock, valued at approximately $32,953,341.12. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,390 shares of company stock worth $29,126,596 over the last 90 days. 4.50% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HUBS. Royal Bank of Canada raised their price target on shares of HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. The Goldman Sachs Group raised their target price on HubSpot from $626.00 to $690.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their price target on HubSpot from $750.00 to $880.00 and gave the company a "buy" rating in a research note on Monday, December 9th. Oppenheimer raised their price objective on HubSpot from $625.00 to $740.00 and gave the stock an "outperform" rating in a research report on Thursday, November 7th. Finally, Evercore ISI upped their target price on shares of HubSpot from $610.00 to $700.00 and gave the company an "in-line" rating in a research report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $689.95.

HubSpot Price Performance

Shares of HUBS traded down $12.63 during midday trading on Friday, reaching $721.86. 340,579 shares of the stock were exchanged, compared to its average volume of 586,882. The company has a market capitalization of $37.26 billion, a price-to-earnings ratio of -2,673.46, a PEG ratio of 88.26 and a beta of 1.70. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $762.47. The business's 50-day moving average price is $637.78 and its 200 day moving average price is $564.70.

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

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.