HubSpot, Inc. (NYSE:HUBS) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC lowered its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 93.7% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 10,323 shares of the software maker's stock after selling 152,968 shares during the quarter. Fred Alger Management LLC's holdings in HubSpot were worth $5,488,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. International Assets Investment Management LLC purchased a new stake in shares of HubSpot in the second quarter worth about $35,000. HM Payson & Co. lifted its position in HubSpot by 36.0% during the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker's stock worth $36,000 after acquiring an additional 18 shares in the last quarter. Crewe Advisors LLC grew its position in HubSpot by 525.0% in the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker's stock valued at $44,000 after acquiring an additional 63 shares in the last quarter. J.Safra Asset Management Corp raised its stake in shares of HubSpot by 690.9% during the second quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker's stock valued at $51,000 after purchasing an additional 76 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in shares of HubSpot by 41.6% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker's stock worth $64,000 after purchasing an additional 32 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Activity at HubSpot

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

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on HUBS shares. Royal Bank of Canada raised their price target on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Truist Financial reaffirmed a "buy" rating and set a $750.00 target price (up from $600.00) on shares of HubSpot in a research report on Friday, November 8th. BMO Capital Markets boosted 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. The Goldman Sachs Group raised their price objective on HubSpot from $626.00 to $690.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on HubSpot from $600.00 to $625.00 and gave the company a "buy" rating in a research report on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus price target of $672.68.

HubSpot Stock Performance

Shares of HUBS traded down $1.71 during midday trading on Friday, hitting $721.05. 174,747 shares of the stock traded hands, compared to its average volume of 614,753. The business's 50 day moving average price is $597.13 and its two-hundred day moving average price is $555.74. The firm has a market capitalization of $37.22 billion, a PE ratio of -2,670.46, a price-to-earnings-growth ratio of 87.65 and a beta of 1.63. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $754.56.

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

HubSpot Company 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.