KLP Kapitalforvaltning AS Invests $17.18 Million in HubSpot, Inc. (NYSE:HUBS)

KLP Kapitalforvaltning AS acquired a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 24,650 shares of the software maker's stock, valued at approximately $17,175,000.

Several other institutional investors and hedge funds have also modified their holdings of HUBS. Wellington Management Group LLP raised its holdings in HubSpot by 52.2% during the third 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. Raymond James Financial Inc. bought a new position in shares of HubSpot in the 4th quarter valued at approximately $157,019,000. Wealthfront Advisers LLC lifted its holdings in HubSpot by 3,090.2% in the 4th quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker's stock worth $93,049,000 after purchasing an additional 129,357 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in HubSpot during the fourth quarter worth approximately $79,135,000. Finally, State of Michigan Retirement System grew its holdings in HubSpot by 87.7% during the fourth quarter. State of Michigan Retirement System now owns 106,400 shares of the software maker's stock valued at $74,136,000 after purchasing an additional 49,700 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Analyst Ratings Changes

HUBS has been the subject of a number of analyst reports. Truist Financial restated a "buy" rating and issued a $900.00 price objective (up from $750.00) on shares of HubSpot in a research note on Thursday, February 13th. Citigroup upped their price target on shares of HubSpot from $750.00 to $900.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. KeyCorp upgraded HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price objective on the stock in a research note on Thursday, February 13th. JPMorgan Chase & Co. increased their target price on HubSpot from $635.00 to $725.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, Royal Bank of Canada lifted their price target on HubSpot from $825.00 to $950.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $848.58.

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Insider Activity

In other news, CFO Kathryn Bueker sold 1,796 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total transaction of $1,260,055.64. Following the sale, the chief financial officer now directly owns 38,560 shares of the company's stock, valued at $27,053,310.40. This represents a 4.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $810.00, for a total transaction of $6,885,000.00. Following the completion of the transaction, the insider now owns 524,751 shares of the company's stock, valued at $425,048,310. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,853 shares of company stock worth $15,453,396. 4.50% of the stock is owned by corporate insiders.

HubSpot Trading Down 2.0 %

HUBS stock traded down $11.96 during trading on Friday, hitting $581.45. 641,595 shares of the stock traded hands, compared to its average volume of 611,086. The stock has a market cap of $30.32 billion, a price-to-earnings ratio of 6,461.31, a P/E/G ratio of 41.44 and a beta of 1.80. The company has a 50 day simple moving average of $705.35 and a 200 day simple moving average of $657.85. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing analysts' consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, analysts predict that HubSpot, Inc. will post 1.01 earnings per share 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.