Oak Thistle LLC Makes New Investment in HubSpot, Inc. (NYSE:HUBS)

Oak Thistle LLC purchased a new position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,258 shares of the software maker's stock, valued at approximately $742,000.

Several other large investors have also recently added to or reduced their stakes in the company. Varma Mutual Pension Insurance Co acquired a new position in HubSpot during the second quarter worth about $9,230,000. Pier 88 Investment Partners LLC grew its position in HubSpot by 197.1% during the second quarter. Pier 88 Investment Partners LLC now owns 2,080 shares of the software maker's stock worth $1,227,000 after buying an additional 1,380 shares during the period. Caprock Group LLC grew its position in shares of HubSpot by 30.0% in the second quarter. Caprock Group LLC now owns 576 shares of the software maker's stock valued at $340,000 after purchasing an additional 133 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of HubSpot by 138.2% in the second quarter. Acadian Asset Management LLC now owns 2,091 shares of the software maker's stock valued at $1,232,000 after purchasing an additional 1,213 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of HubSpot in the second quarter valued at approximately $70,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

HUBS has been the topic of several research reports. Stifel Nicolaus lowered their price target on shares of HubSpot from $700.00 to $600.00 and set a "buy" rating on the stock in a research report on Tuesday, July 30th. Piper Sandler reiterated an "overweight" rating and issued a $570.00 price target on shares of HubSpot in a research report on Thursday, August 8th. Needham & Company LLC reiterated a "buy" rating and issued a $730.00 price target on shares of HubSpot in a research report on Thursday, August 8th. Citigroup lowered their price target on shares of HubSpot from $699.00 to $629.00 and set a "buy" rating on the stock in a research report on Friday, August 9th. Finally, Oppenheimer decreased their target price on shares of HubSpot from $725.00 to $625.00 and set an "outperform" rating on the stock in a research report on Monday, July 22nd. Five equities research 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $610.79.

HubSpot Stock Down 0.3 %

Shares of HUBS stock traded down $1.54 during mid-day trading on Monday, reaching $494.94. The company's stock had a trading volume of 331,133 shares, compared to its average volume of 626,912. The company's 50 day simple moving average is $498.55 and its 200-day simple moving average is $573.05. HubSpot, Inc. has a 12-month low of $407.23 and a 12-month high of $693.85. The firm has a market capitalization of $25.42 billion, a PE ratio of -186.77, a price-to-earnings-growth ratio of 3,132.37 and a beta of 1.63.

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

Insider Activity

In related news, insider Dawson Alyssa Harvey sold 384 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of the sale, the insider now directly owns 9,735 shares of the company's stock, valued at approximately $4,548,484.05. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Yamini Rangan sold 116 shares of the firm's stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares of the company's stock, valued at approximately $33,009,441.57. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the firm's stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $467.23, for a total transaction of $179,416.32. Following the sale, the insider now directly owns 9,735 shares of the company's stock, valued at $4,548,484.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 38,012 shares of company stock valued at $21,300,253. Company insiders own 4.50% of the company's stock.

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.