Oppenheimer Asset Management Inc. Cuts Stock Position in HubSpot, Inc. (NYSE:HUBS)

Oppenheimer Asset Management Inc. lessened its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 18.5% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,048 shares of the software maker's stock after selling 916 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in HubSpot were worth $2,152,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Geneva Capital Management LLC boosted its stake in shares of HubSpot by 16.1% in the 3rd quarter. Geneva Capital Management LLC now owns 34,601 shares of the software maker's stock valued at $18,394,000 after purchasing an additional 4,805 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of HubSpot by 1.7% during the third quarter. Victory Capital Management Inc. now owns 24,620 shares of the software maker's stock worth $13,088,000 after buying an additional 416 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of HubSpot during the third quarter worth $211,000. Sumitomo Mitsui Trust Group Inc. increased its holdings in shares of HubSpot by 13.6% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 131,129 shares of the software maker's stock worth $69,708,000 after buying an additional 15,701 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in shares of HubSpot by 243.2% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,485 shares of the software maker's stock valued at $13,548,000 after acquiring an additional 18,060 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have commented on HUBS. KeyCorp upgraded HubSpot from an "underweight" rating to a "sector weight" rating and set a $460.00 target price for the company in a research report on Thursday, August 8th. Royal Bank of Canada raised their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Needham & Company LLC reiterated a "buy" rating and set a $730.00 target price on shares of HubSpot in a research report on Thursday, November 7th. Truist Financial restated a "buy" rating and issued a $750.00 price target (up from $600.00) on shares of HubSpot in a research report on Friday, November 8th. Finally, Stifel Nicolaus lifted their price target on shares of HubSpot from $600.00 to $625.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $672.68.

HubSpot Price Performance

NYSE:HUBS traded down $19.23 during trading hours on Friday, hitting $677.07. 460,569 shares of the company traded hands, compared to its average volume of 546,826. HubSpot, Inc. has a one year low of $434.84 and a one year high of $724.61. The firm's 50-day simple moving average is $554.78 and its 200-day simple moving average is $548.16.

HubSpot (NYSE:HUBS - Get Free Report) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts' consensus estimates of $1.91 by $0.27. The company had revenue of $669.72 million for the quarter, compared to analysts' expectations of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The business's revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.04) EPS. As a group, analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Dawson Alyssa Harvey sold 573 shares of the firm's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $700.00, for a total value of $401,100.00. Following the completion of the transaction, the insider now directly owns 7,603 shares in the company, valued at approximately $5,322,100. This trade represents a 7.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was 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 owns 67,203 shares in the company, valued at $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,891 shares of company stock worth $6,662,473 over the last quarter. 4.50% of the stock is currently owned by company insiders.

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.