Westfield Capital Management Co. LP Decreases Holdings in HubSpot, Inc. (NYSE:HUBS)

Westfield Capital Management Co. LP lowered its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 9.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,760 shares of the software maker's stock after selling 17,452 shares during the period. Westfield Capital Management Co. LP owned approximately 0.34% of HubSpot worth $93,434,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Fred Alger Management LLC boosted its holdings in HubSpot by 516.2% in the second quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker's stock worth $96,307,000 after acquiring an additional 136,793 shares in the last quarter. International Assets Investment Management LLC grew its position in HubSpot by 214,342.4% in the 3rd quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker's stock valued at $672,590,000 after purchasing an additional 126,462 shares during the period. Marshall Wace LLP increased its stake in HubSpot by 88.7% during the 2nd quarter. Marshall Wace LLP now owns 241,557 shares of the software maker's stock valued at $142,468,000 after purchasing an additional 113,555 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker's stock worth $303,689,000 after buying an additional 86,688 shares during the last quarter. Finally, Dorsal Capital Management LP bought a new position in shares of HubSpot in the second quarter valued at $44,234,000. 90.39% of the stock is currently owned by institutional investors.

HubSpot Stock Up 3.1 %

HUBS traded up $22.61 on Friday, hitting $742.61. The company's stock had a trading volume of 653,470 shares, compared to its average volume of 588,401. The company's 50 day simple moving average is $575.54 and its 200-day simple moving average is $551.22. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $745.49. The firm has a market cap of $38.33 billion, a P/E ratio of -2,750.31, a price-to-earnings-growth ratio of 87.52 and a beta of 1.63.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.91 by $0.27. The business 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 firm's quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. Equities analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. BMO Capital Markets lifted their price target on HubSpot from $570.00 to $690.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Bank of America dropped their price objective on HubSpot from $650.00 to $580.00 and set a "buy" rating on the stock in a research note on Thursday, August 8th. KeyCorp upgraded shares of HubSpot from an "underweight" rating to a "sector weight" rating and set a $460.00 target price for the company in a research note on Thursday, August 8th. UBS Group raised their price target on shares of HubSpot from $550.00 to $650.00 and gave the company a "neutral" rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price objective on shares of HubSpot from $560.00 to $635.00 and gave the stock an "overweight" rating in a research report on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and an average price target of $672.68.

Insider Activity

In other HubSpot news, insider Dawson Alyssa Harvey sold 573 shares of the firm's stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the sale, the insider now owns 7,603 shares of the company's stock, valued at $5,322,100. This trade represents a 7.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total value of $5,623,515.00. Following the sale, the insider now owns 513,698 shares of the company's stock, valued at approximately $339,857,459.82. This trade represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,391 shares of company stock worth $29,101,488. 4.50% of the stock is owned by company insiders.

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.