Commonwealth Equity Services LLC Reduces Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Commonwealth Equity Services LLC reduced its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 20.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,203 shares of the software maker's stock after selling 3,130 shares during the quarter. Commonwealth Equity Services LLC's holdings in HubSpot were worth $7,197,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Riverview Trust Co purchased a new stake in shares of HubSpot during the first quarter worth approximately $27,000. Geneos Wealth Management Inc. raised its stake in shares of HubSpot by 1,125.0% during the first quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker's stock worth $31,000 after purchasing an additional 45 shares during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of HubSpot during the second quarter worth approximately $35,000. Crewe Advisors LLC raised its stake in shares of HubSpot by 525.0% during the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker's stock worth $44,000 after purchasing an additional 63 shares during the last quarter. Finally, SYSTM Wealth Solutions LLC raised its stake in shares of HubSpot by 54.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 77 shares of the software maker's stock worth $48,000 after purchasing an additional 27 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $730.00 price objective on shares of HubSpot in a research report on Thursday, August 8th. Royal Bank of Canada reiterated an "outperform" rating and issued a $700.00 price objective on shares of HubSpot in a research report on Thursday, August 8th. Wells Fargo & Company cut their price objective on HubSpot from $650.00 to $625.00 and set an "overweight" rating for the company in a research report on Thursday, August 8th. Stifel Nicolaus cut their price objective on HubSpot from $700.00 to $600.00 and set a "buy" rating for the company in a research report on Tuesday, July 30th. Finally, Truist Financial reiterated a "buy" rating and issued a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Five research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $610.79.

HubSpot Price Performance

NYSE:HUBS traded down $7.69 during mid-day trading on Friday, reaching $496.48. The company's stock had a trading volume of 395,848 shares, compared to its average volume of 628,632. The company's fifty day simple moving average is $500.50 and its two-hundred day simple moving average is $573.90. HubSpot, Inc. has a twelve month low of $407.23 and a twelve month high of $693.85. The stock has a market cap of $25.30 billion, a P/E ratio of -187.35, a P/E/G ratio of 3,148.72 and a beta of 1.60.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. During the same period last year, the company earned ($1.17) EPS. The firm's quarterly revenue was up 20.4% on a year-over-year basis. Sell-side analysts expect that HubSpot, Inc. will post 0.01 EPS for the current fiscal year.

Insider Transactions at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total value of $4,014,295.00. Following the transaction, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total value of $4,014,295.00. Following the transaction, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the firm's stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares in the company, valued at $33,009,441.57. The disclosure for this sale can be found here. Insiders have sold a total of 38,012 shares of company stock worth $21,300,253 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.