Lighthouse Investment Partners LLC Takes $10.82 Million Position in HubSpot, Inc. (NYSE:HUBS)

Lighthouse Investment Partners LLC purchased a new position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,341 shares of the software maker's stock, valued at approximately $10,817,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 119,999 shares in the last quarter. Hsbc Holdings PLC grew its position in HubSpot by 10.1% in the 4th quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker's stock worth $13,022,000 after purchasing an additional 2,057 shares in the last quarter. Stifel Financial Corp increased its stake in HubSpot by 15.1% in the 4th quarter. Stifel Financial Corp now owns 33,248 shares of the software maker's stock valued at $19,302,000 after buying an additional 4,371 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in shares of HubSpot by 74.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker's stock worth $2,117,000 after buying an additional 1,560 shares in the last quarter. Finally, M&G Plc purchased a new position in shares of HubSpot in the 1st quarter worth approximately $8,533,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HUBS has been the subject of a number of recent analyst reports. UBS Group reduced their price objective on HubSpot from $580.00 to $550.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th. Barclays lowered their target price on HubSpot from $575.00 to $500.00 and set an "equal weight" rating on the stock in a research note on Friday, August 9th. Canaccord Genuity Group lowered their price objective on HubSpot from $700.00 to $600.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. Truist Financial reissued a "buy" rating and issued a $600.00 price target (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $700.00 price target on shares of HubSpot in a research report on Thursday, September 19th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and a consensus price target of $610.79.

HubSpot Trading Up 0.3 %

HUBS stock traded up $1.53 during midday trading on Friday, hitting $536.41. The company had a trading volume of 331,354 shares, compared to its average volume of 617,118. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85. The stock's 50 day moving average price is $493.85 and its 200 day moving average price is $564.33. The stock has a market cap of $27.34 billion, a price-to-earnings ratio of -201.84, a PEG ratio of 7,010.23 and a beta of 1.63.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $637.20 million for the quarter, compared to analysts' expectations of $619.28 million. During the same period last year, the firm earned ($1.17) earnings per share. HubSpot's quarterly revenue was up 20.4% on a year-over-year basis.

Insider Activity

In related news, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 68,037 shares of the company's stock, valued at $40,332,333.60. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Yamini Rangan sold 2,877 shares of the company's stock in a transaction 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 of the company's stock, valued at $40,332,333.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $586.85, for a total value of $14,671,250.00. Following the completion of the transaction, the chief technology officer now owns 1,348,929 shares of the company's stock, valued at approximately $791,618,983.65. 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. Corporate 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.