Assenagon Asset Management S.A. Sells 34,535 Shares of HubSpot, Inc. (NYSE:HUBS)

Assenagon Asset Management S.A. reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 39.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,135 shares of the software maker's stock after selling 34,535 shares during the quarter. Assenagon Asset Management S.A. owned 0.10% of HubSpot worth $28,247,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Hazlett Burt & Watson Inc. raised its holdings in HubSpot by 19.5% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 153 shares of the software maker's stock worth $91,000 after buying an additional 25 shares during the period. V Square Quantitative Management LLC lifted its position in HubSpot by 3.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 929 shares of the software maker's stock valued at $494,000 after acquiring an additional 27 shares in the last quarter. Gilbert & Cook Inc. boosted its stake in HubSpot by 1.4% in the 1st quarter. Gilbert & Cook Inc. now owns 1,993 shares of the software maker's stock worth $1,249,000 after purchasing an additional 28 shares during the period. Jacobs Levy Equity Management Inc. increased its holdings in HubSpot by 2.8% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,114 shares of the software maker's stock worth $698,000 after purchasing an additional 30 shares in the last quarter. Finally, Quent Capital LLC raised its stake in shares of HubSpot by 13.0% in the 2nd quarter. Quent Capital LLC now owns 261 shares of the software maker's stock valued at $154,000 after purchasing an additional 30 shares during the period. Institutional investors own 90.39% of the company's stock.

Insiders Place Their Bets

In other news, insider Dawson Alyssa Harvey sold 384 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 9,735 shares of the company's stock, valued at $4,548,484.05. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, CFO Kathryn Bueker sold 1,136 shares of the firm's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total transaction of $597,354.24. Following the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at $21,695,632.56. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dawson Alyssa Harvey sold 384 shares of the business's stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total value of $179,416.32. Following the completion of the transaction, the insider now directly owns 9,735 shares in the company, valued at approximately $4,548,484.05. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,321 shares of company stock valued at $3,374,089. 4.50% of the stock is owned by insiders.

HubSpot Stock Performance

Shares of NYSE HUBS traded up $11.36 during mid-day trading on Friday, hitting $565.67. The stock had a trading volume of 420,075 shares, compared to its average volume of 366,492. The business has a 50 day moving average price of $518.03 and a two-hundred day moving average price of $551.25. HubSpot, Inc. has a 1 year low of $407.23 and a 1 year high of $693.85. The firm has a market cap of $29.05 billion, a P/E ratio of -1,047.52, a price-to-earnings-growth ratio of 7,068.33 and a beta of 1.64.

HubSpot (NYSE:HUBS - Get Free Report) last released 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 return on equity of 2.33% and a negative net margin of 1.15%. The company had revenue of $637.20 million during the quarter, compared to analysts' expectations of $619.28 million. During the same quarter last year, the business posted ($1.17) EPS. The firm's revenue for the quarter was up 20.4% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HUBS shares. Bank of America lowered their target price on HubSpot from $650.00 to $580.00 and set a "buy" rating on the stock in a research report on Thursday, August 8th. Barclays reduced their price target on HubSpot from $575.00 to $500.00 and set an "equal weight" rating for the company in a report on Friday, August 9th. Canaccord Genuity Group 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 Thursday, August 8th. BMO Capital Markets restated an "outperform" rating and set a $570.00 price objective on shares of HubSpot in a report on Thursday, September 19th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $570.00 price target on shares of HubSpot in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus price target of $614.33.

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.