NewGen Asset Management Ltd Acquires New Stake in HubSpot, Inc. (NYSE:HUBS)

NewGen Asset Management Ltd bought a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,500 shares of the software maker's stock, valued at approximately $12,680,000. HubSpot makes up about 5.5% of NewGen Asset Management Ltd's holdings, making the stock its 2nd largest position.

A number of other institutional investors have also recently made changes to their positions in HUBS. Vanguard Group Inc. increased its holdings in HubSpot by 2.6% in the 4th quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker's stock worth $2,781,013,000 after buying an additional 119,999 shares in the last quarter. Hsbc Holdings PLC grew its stake in shares of HubSpot by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker's stock worth $13,022,000 after acquiring an additional 2,057 shares during the period. Stifel Financial Corp raised its holdings in shares of HubSpot by 15.1% during the fourth quarter. Stifel Financial Corp now owns 33,248 shares of the software maker's stock valued at $19,302,000 after purchasing an additional 4,371 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in HubSpot by 19.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 22,546 shares of the software maker's stock valued at $13,089,000 after purchasing an additional 3,671 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in HubSpot by 74.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker's stock worth $2,117,000 after purchasing an additional 1,560 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Bank of America lowered their price target on HubSpot from $650.00 to $580.00 and set a "buy" rating on the stock in a report on Thursday, August 8th. Barclays dropped their target price on HubSpot from $575.00 to $500.00 and set an "equal weight" rating on the stock in a research report on Friday, August 9th. Truist Financial reaffirmed a "buy" rating and set a $600.00 price target (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price objective on shares of HubSpot from $650.00 to $625.00 and set an "overweight" rating on the stock in a report on Thursday, August 8th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $730.00 target price on shares of HubSpot in a report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, HubSpot presently has an average rating of "Moderate Buy" and an average price target of $610.79.

Insider Buying and Selling

In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the transaction, the insider now directly owns 518,152 shares of the company's stock, valued at approximately $244,707,645.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian Halligan sold 8,500 shares of the company's stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the sale, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yamini Rangan sold 2,877 shares of the business's stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $1,705,485.60. Following the sale, the chief executive officer now directly owns 68,037 shares in the company, valued at $40,332,333.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,896 shares of company stock worth $21,243,275. Insiders own 4.50% of the company's stock.

HubSpot Price Performance

NYSE HUBS traded down $0.98 on Friday, reaching $499.07. The company had a trading volume of 415,364 shares, compared to its average volume of 634,674. The firm's 50 day moving average price is $508.77 and its 200 day moving average price is $578.08. HubSpot, Inc. has a 12 month low of $407.23 and a 12 month high of $693.85. The stock has a market capitalization of $25.43 billion, a PE ratio of -188.33 and a beta of 1.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32.

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

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.