Jennison Associates LLC lessened its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 84.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,707 shares of the software maker's stock after selling 480,732 shares during the period. Jennison Associates LLC owned 0.17% of HubSpot worth $46,094,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of HUBS. International Assets Investment Management LLC acquired a new stake in HubSpot in the 2nd quarter worth approximately $35,000. HM Payson & Co. grew 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 buying an additional 18 shares during the last quarter. Crewe Advisors LLC increased its position in shares of HubSpot by 525.0% in the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker's stock valued at $44,000 after acquiring an additional 63 shares during the period. J.Safra Asset Management Corp grew its stake in HubSpot by 690.9% during the 2nd 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 last quarter. Finally, Whittier Trust Co. of Nevada Inc. grew its stake in HubSpot by 41.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker's stock valued at $64,000 after purchasing an additional 32 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on HUBS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $730.00 target price on shares of HubSpot in a report on Thursday, November 7th. Barclays lifted their price objective on shares of HubSpot from $500.00 to $650.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. Raymond James cut their price objective on shares of HubSpot from $725.00 to $675.00 and set an "outperform" rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada boosted their target price on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their target price on HubSpot from $600.00 to $710.00 and gave the stock a "buy" rating in a report on Thursday, November 7th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $672.68.
Read Our Latest Stock Analysis on HubSpot
Insider Buying and Selling
In related news, CEO Yamini Rangan sold 116 shares of the stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the transaction, the chief executive officer now owns 67,203 shares of the company's stock, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Dharmesh Shah sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the sale, the chief technology officer now directly owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,391 shares of company stock worth $29,101,488. Insiders own 4.50% of the company's stock.
HubSpot Trading Up 2.4 %
HUBS stock traded up $17.21 during mid-day trading on Friday, reaching $737.21. The company's stock had a trading volume of 256,865 shares, compared to its average volume of 591,970. The stock has a market cap of $38.06 billion, a PE ratio of -2,660.15, a P/E/G ratio of 82.97 and a beta of 1.63. The company's 50 day moving average is $570.51 and its two-hundred day moving average is $551.07. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $738.65.
HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.27. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. During the same quarter last year, the business posted ($0.04) earnings per share. The firm's revenue was up 20.1% compared to the same quarter last year. On average, analysts forecast that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.
About HubSpot
(
Free Report)
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.
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