Melqart Asset Management UK Ltd Has $18.01 Million Position in HubSpot, Inc. (NYSE:HUBS)

Melqart Asset Management UK Ltd lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 15.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 33,878 shares of the software maker's stock after acquiring an additional 4,468 shares during the period. HubSpot accounts for approximately 1.6% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 17th biggest holding. Melqart Asset Management UK Ltd owned approximately 0.07% of HubSpot worth $18,010,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers increased its position in HubSpot by 106.2% during the first quarter. Cetera Investment Advisers now owns 3,994 shares of the software maker's stock worth $2,502,000 after buying an additional 2,057 shares during the period. Cetera Advisors LLC grew its stake in shares of HubSpot by 171.7% in the 1st quarter. Cetera Advisors LLC now owns 989 shares of the software maker's stock valued at $620,000 after purchasing an additional 625 shares during the last quarter. Mather Group LLC. grew its stake in shares of HubSpot by 19.1% in the 2nd quarter. Mather Group LLC. now owns 256 shares of the software maker's stock valued at $161,000 after purchasing an additional 41 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of HubSpot by 10.0% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 2,479 shares of the software maker's stock valued at $1,462,000 after purchasing an additional 225 shares during the last quarter. Finally, Park Avenue Securities LLC grew its stake in shares of HubSpot by 9.7% in the 2nd quarter. Park Avenue Securities LLC now owns 1,697 shares of the software maker's stock valued at $1,001,000 after purchasing an additional 150 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity at HubSpot

In related news, insider Dawson Alyssa Harvey sold 573 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $700.00, for a total transaction of $401,100.00. Following the transaction, the insider now owns 7,603 shares in the company, valued at $5,322,100. This trade represents a 7.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 115 shares of the firm's stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $713.79, for a total transaction of $82,085.85. Following the sale, the chief executive officer now owns 61,179 shares of the company's stock, valued at $43,668,958.41. The trade was a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,390 shares of company stock worth $29,126,596 over the last quarter. 4.50% of the stock is currently owned by company insiders.

HubSpot Trading Up 5.3 %

HUBS traded up $37.96 on Wednesday, hitting $757.40. 631,870 shares of the company's stock were exchanged, compared to its average volume of 588,981. The stock has a fifty day moving average of $604.80 and a two-hundred day moving average of $557.27. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $762.47. The firm has a market cap of $39.10 billion, a PE ratio of -2,664.59, a P/E/G ratio of 87.96 and a beta of 1.70.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, beating the consensus estimate 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 company had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. During the same quarter last year, the business earned ($0.04) earnings per share. HubSpot's revenue was up 20.1% compared to the same quarter last year. On average, analysts predict that HubSpot, Inc. will post 0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

HUBS has been the topic of several research analyst reports. Barclays boosted their price target on HubSpot from $500.00 to $650.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. Oppenheimer boosted their price target on HubSpot from $625.00 to $740.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. upped their target price on HubSpot from $560.00 to $635.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. Canaccord Genuity Group upped their target price on HubSpot from $600.00 to $710.00 and gave the company a "buy" rating in a research note on Thursday, November 7th. Finally, Piper Sandler downgraded HubSpot from an "overweight" rating to a "neutral" rating and upped their price objective for the stock from $570.00 to $640.00 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. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $672.68.

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.