HubSpot, Inc. (NYSE:HUBS) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 32.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,115 shares of the software maker's stock after selling 9,445 shares during the period. Allspring Global Investments Holdings LLC's holdings in HubSpot were worth $10,693,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in HUBS. Wealth Enhancement Advisory Services LLC increased its position in HubSpot by 7.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,859 shares of the software maker's stock worth $1,165,000 after purchasing an additional 123 shares during the last quarter. Founders Financial Securities LLC increased its holdings in shares of HubSpot by 26.5% during the 1st quarter. Founders Financial Securities LLC now owns 449 shares of the software maker's stock worth $281,000 after buying an additional 94 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of HubSpot by 0.6% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 126,557 shares of the software maker's stock valued at $79,296,000 after buying an additional 714 shares during the period. First Trust Direct Indexing L.P. lifted its holdings in HubSpot by 10.9% in the first quarter. First Trust Direct Indexing L.P. now owns 1,546 shares of the software maker's stock valued at $969,000 after acquiring an additional 152 shares during the last quarter. Finally, Maryland State Retirement & Pension System grew its position in HubSpot by 4.3% in the first quarter. Maryland State Retirement & Pension System now owns 3,637 shares of the software maker's stock worth $2,344,000 after acquiring an additional 151 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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 stock was sold at an average price of $467.23, for a total value of $179,416.32. Following the transaction, the insider now owns 9,735 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this hyperlink. In related news, insider Dawson Alyssa Harvey sold 384 shares of the firm's stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $467.23, for a total value of $179,416.32. Following the completion of the sale, the insider now owns 9,735 shares in the company, valued at $4,548,484.05. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 1,374 shares of HubSpot stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $550.00, for a total value of $755,700.00. Following the completion of the sale, the chief executive officer now directly owns 61,294 shares in the company, valued at $33,711,700. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,321 shares of company stock valued at $3,374,089. Insiders own 4.50% of the company's stock.

HubSpot Price Performance

Shares of HUBS traded up $11.36 during midday trading on Friday, reaching $565.67. 420,075 shares of the stock were exchanged, compared to its average volume of 366,492. HubSpot, Inc. has a twelve month low of $407.23 and a twelve month high of $693.85. The company has a market capitalization of $29.05 billion, a price-to-earnings ratio of -1,047.52, a PEG ratio of 7,068.33 and a beta of 1.64. The business's 50-day moving average price is $518.03 and its 200 day moving average price is $549.75.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, beating analysts' consensus estimates of $1.64 by $0.30. The company had revenue of $637.20 million during the quarter, compared to analysts' expectations of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm's revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.17) earnings per share.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Wells Fargo & Company decreased their price target on HubSpot from $650.00 to $625.00 and set an "overweight" rating on the stock in a research note on Thursday, August 8th. KeyCorp raised shares of HubSpot from an "underweight" rating to a "sector weight" rating and set a $460.00 target price on the stock in a research report on Thursday, August 8th. Evercore ISI lifted their price target on shares of HubSpot from $550.00 to $610.00 and gave the company an "in-line" rating in a research report on Wednesday. BMO Capital Markets restated an "outperform" rating and issued a $570.00 price objective on shares of HubSpot in a report on Thursday, September 19th. Finally, Canaccord Genuity Group dropped their target price on shares of HubSpot from $700.00 to $600.00 and set a "buy" rating for the company in a report on Thursday, August 8th. Four research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $614.33.

HubSpot Profile

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.