Norges Bank Purchases New Shares in HubSpot, Inc. (NYSE:HUBS)

Norges Bank acquired a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 603,277 shares of the software maker's stock, valued at approximately $420,345,000. Norges Bank owned 1.17% of HubSpot at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Wellington Management Group LLP lifted its position in shares of HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker's stock worth $745,410,000 after acquiring an additional 480,796 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of HubSpot by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker's stock valued at $435,184,000 after purchasing an additional 19,974 shares during the period. Bank of New York Mellon Corp lifted its holdings 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 worth $469,987,000 after purchasing an additional 24,799 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in HubSpot by 8.2% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker's stock worth $280,186,000 after purchasing an additional 40,138 shares during the period. Finally, Holocene Advisors LP boosted its stake in HubSpot by 17.5% in the 3rd quarter. Holocene Advisors LP now owns 319,767 shares of the software maker's stock worth $169,988,000 after purchasing an additional 47,736 shares during the period. 90.39% of the stock is owned by institutional investors.

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Insider Activity

In other HubSpot news, CFO Kathryn Bueker sold 1,796 shares of the business's stock in a transaction 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 transaction, the chief financial officer now directly owns 38,560 shares of the company's stock, valued at approximately $27,053,310.40. The trade was a 4.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 3,057 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the completion of the transaction, the chief executive officer now owns 54,079 shares of the company's stock, valued at $37,941,285.61. This trade represents a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,853 shares of company stock valued at $15,453,396. Insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Piper Sandler increased their price target on shares of HubSpot from $640.00 to $808.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Mizuho increased their target price on shares of HubSpot from $725.00 to $775.00 and gave the stock an "outperform" rating in a research note on Friday, December 13th. Stephens assumed coverage on shares of HubSpot in a research report on Wednesday, March 19th. They set an "overweight" rating and a $769.00 price target for the company. Scotiabank increased their price objective on HubSpot from $825.00 to $900.00 and gave the stock a "sector outperform" rating in a research report on Thursday, February 13th. Finally, Needham & Company LLC boosted their target price on HubSpot from $730.00 to $900.00 and gave the stock a "buy" rating in a research report on Thursday, February 13th. Five research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and an average target price of $848.58.

HubSpot Price Performance

HubSpot stock traded down $11.53 during trading hours on Monday, reaching $570.58. The company had a trading volume of 751,972 shares, compared to its average volume of 611,647. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13. The company has a 50-day moving average price of $705.35 and a 200 day moving average price of $660.14. The firm has a market cap of $29.76 billion, a price-to-earnings ratio of 6,340.52, a P/E/G ratio of 41.44 and a beta of 1.80.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, February 12th. The software maker reported $0.20 EPS for the quarter, missing the consensus estimate 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, research analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current 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.