Bank of New York Mellon Corp Decreases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Bank of New York Mellon Corp cut its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 609,245 shares of the software maker's stock after selling 84,556 shares during the quarter. Bank of New York Mellon Corp owned 1.20% of HubSpot worth $359,327,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HUBS. GAMMA Investing LLC lifted its position in shares of HubSpot by 14.3% in the 1st quarter. GAMMA Investing LLC now owns 120 shares of the software maker's stock valued at $75,000 after acquiring an additional 15 shares in the last quarter. Lincoln National Corp raised its position in HubSpot by 2.6% during the fourth quarter. Lincoln National Corp now owns 666 shares of the software maker's stock valued at $387,000 after buying an additional 17 shares during the period. Addison Capital Co lifted its stake in HubSpot by 0.5% in the 4th quarter. Addison Capital Co now owns 3,822 shares of the software maker's stock worth $2,219,000 after acquiring an additional 18 shares in the last quarter. First Affirmative Financial Network boosted its position in HubSpot by 3.8% during the 1st quarter. First Affirmative Financial Network now owns 493 shares of the software maker's stock worth $309,000 after acquiring an additional 18 shares during the period. Finally, Lindbrook Capital LLC grew its stake in HubSpot by 17.9% during the 1st quarter. Lindbrook Capital LLC now owns 138 shares of the software maker's stock valued at $86,000 after acquiring an additional 21 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HubSpot

In other HubSpot news, insider Dawson Alyssa Harvey sold 192 shares of the business's stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total value of $124,800.00. Following the sale, the insider now owns 10,860 shares of the company's stock, valued at approximately $7,059,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other HubSpot news, insider Dawson Alyssa Harvey sold 192 shares of the firm's stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $650.00, for a total transaction of $124,800.00. Following the completion of the transaction, the insider now owns 10,860 shares in the company, valued at $7,059,000. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 1,135 shares of HubSpot stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $672,828.00. Following the sale, the chief financial officer now directly owns 44,715 shares in the company, valued at $26,507,052. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,279 shares of company stock valued at $22,792,225. 4.50% of the stock is owned by corporate insiders.

HubSpot Stock Performance

NYSE HUBS traded up $2.91 during midday trading on Tuesday, hitting $502.01. The company had a trading volume of 354,617 shares, compared to its average volume of 639,506. The firm has a fifty day simple moving average of $512.88 and a two-hundred day simple moving average of $580.06. HubSpot, Inc. has a fifty-two week low of $407.23 and a fifty-two week high of $693.85. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32. The stock has a market cap of $25.58 billion, a price-to-earnings ratio of -189.44 and a beta of 1.60.

HubSpot (NYSE:HUBS - Get Free Report) last released its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping analysts' consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million for the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative return on equity of 4.94% and a negative net margin of 5.78%. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business earned ($1.17) earnings per share. Equities analysts forecast that HubSpot, Inc. will post -0.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

HUBS has been the topic of a number of research analyst reports. Mizuho lowered their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a research report on Thursday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $730.00 price objective on shares of HubSpot in a research report on Thursday, August 8th. Piper Sandler reaffirmed an "overweight" rating and issued a $570.00 target price on shares of HubSpot in a research report on Thursday, August 8th. Barclays lowered their price target on HubSpot from $575.00 to $500.00 and set an "equal weight" rating for the company in a research note on Friday, August 9th. Finally, UBS Group cut their price objective on shares of HubSpot from $580.00 to $550.00 and set a "neutral" rating on the stock in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus target price of $610.79.

HubSpot 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.