Westpac Banking Corp Cuts Position in HubSpot, Inc. (NYSE:HUBS)

Westpac Banking Corp reduced its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 30.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,046 shares of the software maker's stock after selling 1,805 shares during the quarter. Westpac Banking Corp's holdings in HubSpot were worth $2,819,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of HUBS. Townsquare Capital LLC boosted its stake in HubSpot by 93.1% in the 3rd 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. Captrust Financial Advisors lifted its holdings in shares of HubSpot by 132.6% in the third quarter. Captrust Financial Advisors now owns 1,363 shares of the software maker's stock worth $725,000 after buying an additional 777 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of HubSpot in the third quarter worth about $210,000. HighTower Advisors LLC boosted its position in shares of HubSpot by 1.4% in the third quarter. HighTower Advisors LLC now owns 4,535 shares of the software maker's stock valued at $2,420,000 after acquiring an additional 61 shares during the period. Finally, Janus Henderson Group PLC grew its stake in HubSpot by 6.4% during the third quarter. Janus Henderson Group PLC now owns 24,463 shares of the software maker's stock valued at $13,005,000 after acquiring an additional 1,479 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of HubSpot from $635.00 to $725.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. William Blair reissued an "outperform" rating on shares of HubSpot in a research note on Thursday, February 13th. Macquarie assumed coverage on HubSpot in a research note on Monday, March 24th. They issued an "outperform" rating and a $730.00 target price on the stock. Jefferies Financial Group raised their price target on HubSpot from $860.00 to $900.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price objective on HubSpot from $825.00 to $950.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $848.58.

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Insiders Place Their Bets

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, March 18th. The stock was 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 approximately $320,283,502.84. This represents a 1.59 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 2,382 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the transaction, the chief executive officer now owns 72,373 shares of the company's stock, valued at approximately $41,536,312.16. The trade was a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,382 shares of company stock worth $13,415,657. 4.50% of the stock is currently owned by corporate insiders.

HubSpot Price Performance

HubSpot stock traded down $27.00 during trading hours on Friday, reaching $500.79. The stock had a trading volume of 1,393,357 shares, compared to its average volume of 604,703. The company has a fifty day simple moving average of $688.31 and a 200-day simple moving average of $662.23. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The stock has a market cap of $26.12 billion, a PE ratio of 5,564.93, a PEG ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) 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%. Research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

HubSpot Company 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.