Prudential Financial Inc. Acquires 8,529 Shares of HubSpot, Inc. (NYSE:HUBS)

Prudential Financial Inc. increased its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 318.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,204 shares of the software maker's stock after acquiring an additional 8,529 shares during the quarter. Prudential Financial Inc.'s holdings in HubSpot were worth $7,807,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of HUBS. Townsquare Capital LLC increased its holdings in shares of HubSpot by 93.1% in the third quarter. Townsquare Capital LLC now owns 668 shares of the software maker's stock worth $355,000 after purchasing an additional 322 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of HubSpot during the 3rd quarter valued at about $509,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of HubSpot by 1.2% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,264 shares of the software maker's stock worth $15,025,000 after purchasing an additional 340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of HubSpot by 8.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker's stock worth $280,186,000 after purchasing an additional 40,138 shares in the last quarter. Finally, Vinva Investment Management Ltd increased its position in shares of HubSpot by 31.9% in the third quarter. Vinva Investment Management Ltd now owns 3,501 shares of the software maker's stock worth $1,877,000 after purchasing an additional 846 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

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Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the transaction, the insider now owns 527,233 shares in the company, valued at $320,283,502.84. This represents a 1.59 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yamini Rangan sold 3,057 shares of HubSpot stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the completion of the sale, the chief executive officer now directly owns 54,079 shares of the company's stock, valued at approximately $37,941,285.61. This trade represents a 5.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,853 shares of company stock worth $15,453,396 in the last quarter. Corporate insiders own 4.50% of the company's stock.

HubSpot Price Performance

NYSE:HUBS traded down $63.40 during mid-day trading on Thursday, hitting $529.59. 255,570 shares of the company's stock were exchanged, compared to its average volume of 609,541. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The business has a fifty day moving average price of $697.10 and a 200 day moving average price of $660.86. The company has a market cap of $27.62 billion, a PE ratio of 5,885.01, a P/E/G ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. On average, equities analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of research reports. Sanford C. Bernstein began coverage on shares of HubSpot in a research note on Thursday, March 20th. They issued a "market perform" rating and a $693.00 price target for the company. Raymond James upped their target price on shares of HubSpot from $750.00 to $980.00 and gave the stock an "outperform" rating in a research report on Thursday, February 13th. StockNews.com downgraded HubSpot from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th. Piper Sandler upped their price objective on HubSpot from $640.00 to $808.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Finally, Barclays upgraded HubSpot from an "equal weight" rating to an "overweight" rating and set a $815.00 price objective on the stock in a research report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and an average target price of $848.58.

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.