First Trust Advisors LP Has $193.35 Million Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

First Trust Advisors LP cut its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 7.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 277,497 shares of the software maker's stock after selling 23,140 shares during the quarter. First Trust Advisors LP owned approximately 0.54% of HubSpot worth $193,351,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in HubSpot by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker's stock valued at $1,029,262,000 after buying an additional 74,990 shares during the last quarter. Geode Capital Management LLC increased its holdings in HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker's stock worth $577,572,000 after purchasing an additional 9,922 shares during the last quarter. Groupama Asset Managment increased its holdings in HubSpot by 3.8% in the fourth quarter. Groupama Asset Managment now owns 726,799 shares of the software maker's stock valued at $506,412,000 after buying an additional 26,799 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of HubSpot by 18.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker's stock worth $471,068,000 after acquiring an additional 104,800 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in HubSpot by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker's stock valued at $469,987,000 after purchasing an additional 24,799 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Price Performance

HUBS traded up $24.93 on Wednesday, hitting $566.75. The company had a trading volume of 852,415 shares, compared to its average volume of 619,883. The stock has a market cap of $29.56 billion, a price-to-earnings ratio of 6,297.92, a price-to-earnings-growth ratio of 41.44 and a beta of 1.82. The company's fifty day moving average price is $617.02 and its 200 day moving average price is $660.16. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last released 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%. On average, sell-side analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 2,382 shares of HubSpot stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the sale, the chief executive officer now directly owns 72,373 shares in the company, valued at approximately $41,536,312.16. The trade was a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total value of $4,578,100.00. Following the completion of the transaction, the insider now owns 525,687 shares in the company, valued at $283,135,018.20. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,882 shares of company stock worth $17,993,757. Company insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on HUBS. KeyCorp upgraded HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price target for the company in a research note on Thursday, February 13th. Canaccord Genuity Group lifted their price target on shares of HubSpot from $710.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. BNP Paribas assumed coverage on HubSpot in a research note on Tuesday. They set an "outperform" rating and a $700.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of HubSpot from $635.00 to $725.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Finally, StockNews.com cut HubSpot from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Five analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $794.67.

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.