Principal Financial Group Inc. Sells 1,359 Shares of HubSpot, Inc. (NYSE:HUBS)

Principal Financial Group Inc. lowered its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 4.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 32,784 shares of the software maker's stock after selling 1,359 shares during the period. Principal Financial Group Inc. owned 0.06% of HubSpot worth $19,336,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in HubSpot by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker's stock valued at $2,781,013,000 after acquiring an additional 119,999 shares in the last quarter. Hsbc Holdings PLC boosted its holdings in HubSpot by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker's stock valued at $13,022,000 after acquiring an additional 2,057 shares in the last quarter. Stifel Financial Corp boosted its holdings in HubSpot by 15.1% in the fourth quarter. Stifel Financial Corp now owns 33,248 shares of the software maker's stock valued at $19,302,000 after acquiring an additional 4,371 shares in the last quarter. 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 valued at $2,117,000 after acquiring an additional 1,560 shares in the last quarter. Finally, M&G Plc bought a new stake in HubSpot in the first quarter valued at $8,533,000. Institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on HUBS shares. Truist Financial reiterated a "buy" rating and issued a $600.00 price target (down previously from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Citigroup lowered their price objective on HubSpot from $699.00 to $629.00 and set a "buy" rating for the company in a research report on Friday, August 9th. Barclays lowered their price objective on HubSpot from $575.00 to $500.00 and set an "equal weight" rating for the company in a research report on Friday, August 9th. Oppenheimer lowered their price objective on HubSpot from $725.00 to $625.00 and set an "outperform" rating for the company in a research report on Monday, July 22nd. Finally, UBS Group lowered their price objective on HubSpot from $580.00 to $550.00 and set a "neutral" rating for the company 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 MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $610.79.

HubSpot Price Performance

NYSE HUBS traded down $1.80 during trading hours on Wednesday, hitting $493.96. The company's stock had a trading volume of 393,801 shares, compared to its average volume of 631,561. The company's 50 day simple moving average is $505.49 and its two-hundred day simple moving average is $575.93. The company has a market cap of $25.17 billion, a P/E ratio of -187.03, a price-to-earnings-growth ratio of 3,148.72 and a beta of 1.60. HubSpot, Inc. has a 12 month low of $407.23 and a 12 month high of $693.85.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.64 by $0.30. The business had revenue of $637.20 million during the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The business's quarterly revenue was up 20.4% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.17) EPS. As a group, research analysts predict that HubSpot, Inc. will post 0.01 earnings per share for the current fiscal year.

Insider Buying and Selling at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the business's stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the sale, the chief executive officer now directly owns 68,037 shares in the company, valued at approximately $40,332,333.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CFO Kathryn Bueker sold 1,135 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 transaction of $672,828.00. Following the completion of the transaction, the chief financial officer now directly owns 44,715 shares in the company, valued at approximately $26,507,052. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 2,877 shares of the business's 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 $1,705,485.60. Following the transaction, the chief executive officer now owns 68,037 shares of the company's stock, valued at $40,332,333.60. The disclosure for this sale can be found here. Insiders sold a total of 37,896 shares of company stock worth $21,243,275 in the last three months. 4.50% of the stock is currently owned by company insiders.

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.