Truist Financial Corp Cuts Stock Position in HubSpot, Inc. (NYSE:HUBS)

Truist Financial Corp decreased its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,608 shares of the software maker's stock after selling 883 shares during the quarter. Truist Financial Corp's holdings in HubSpot were worth $6,695,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its position in shares of HubSpot by 13.2% during the 4th quarter. CIBC Asset Management Inc now owns 2,139 shares of the software maker's stock valued at $1,490,000 after buying an additional 249 shares during the last quarter. Highview Capital Management LLC DE raised its holdings in HubSpot by 4.5% in the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock worth $2,098,000 after purchasing an additional 129 shares in the last quarter. Sanctuary Advisors LLC raised its position in shares of HubSpot by 2.7% in the 4th quarter. Sanctuary Advisors LLC now owns 4,097 shares of the software maker's stock worth $3,162,000 after acquiring an additional 106 shares in the last quarter. Principal Financial Group Inc. grew its position in HubSpot by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 27,479 shares of the software maker's stock valued at $19,147,000 after purchasing an additional 1,743 shares during the last quarter. Finally, Capital Performance Advisors LLP boosted its position in shares of HubSpot by 66.4% during the fourth quarter. Capital Performance Advisors LLP now owns 351 shares of the software maker's stock valued at $245,000 after buying an additional 140 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, CEO Yamini Rangan sold 115 shares of the business's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $713.79, for a total value of $82,085.85. Following the transaction, the chief executive officer now directly owns 61,179 shares in the company, valued at $43,668,958.41. The trade was a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total transaction of $6,885,000.00. Following the sale, the insider now owns 524,751 shares in the company, valued at $425,048,310. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 48,112 shares of company stock worth $35,878,612 over the last 90 days. 4.50% of the stock is currently owned by insiders.

HubSpot Price Performance

Shares of NYSE:HUBS traded up $5.33 during trading on Wednesday, hitting $725.43. 179,320 shares of the company were exchanged, compared to its average volume of 496,824. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The company has a market cap of $37.83 billion, a PE ratio of 8,058.31, a P/E/G ratio of 41.44 and a beta of 1.72. The stock has a 50 day moving average of $739.03 and a 200 day moving average of $637.48.

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

Analyst Ratings Changes

Several brokerages have weighed in on HUBS. Barclays reaffirmed an "equal weight" rating on shares of HubSpot in a report on Thursday, February 13th. Bank of America boosted their target price on HubSpot from $780.00 to $850.00 and gave the stock a "buy" rating in a research note on Monday, December 16th. Jefferies Financial Group upped their price target on shares of HubSpot from $860.00 to $900.00 and gave the company a "buy" rating in a report on Monday, February 3rd. KeyCorp upgraded HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price objective for the company in a research note on Thursday, February 13th. Finally, Redburn Atlantic began coverage on shares of HubSpot in a report on Wednesday, February 19th. They issued a "buy" rating for the company. Five equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $863.96.

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.