Kentucky Retirement Systems Insurance Trust Fund Takes $823,000 Position in HubSpot, Inc. (NYSE:HUBS)

Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 1,441 shares of the software maker's stock, valued at approximately $823,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Principal Securities Inc. grew its holdings in shares of HubSpot by 17.2% in the fourth quarter. Principal Securities Inc. now owns 116 shares of the software maker's stock valued at $81,000 after purchasing an additional 17 shares in the last quarter. Allworth Financial LP boosted its stake in HubSpot by 14.6% during the 4th quarter. Allworth Financial LP now owns 149 shares of the software maker's stock worth $109,000 after purchasing an additional 19 shares during the period. Principal Financial Group Inc. boosted its stake in HubSpot by 6.8% during the 4th quarter. Principal Financial Group Inc. now owns 27,479 shares of the software maker's stock worth $19,147,000 after purchasing an additional 1,743 shares during the period. Highview Capital Management LLC DE lifted its stake in shares of 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 acquiring an additional 129 shares during the period. Finally, Global Retirement Partners LLC lifted its stake in shares of HubSpot by 29.8% in the fourth quarter. Global Retirement Partners LLC now owns 157 shares of the software maker's stock valued at $109,000 after purchasing an additional 36 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total value of $4,578,100.00. Following the transaction, the insider now owns 525,687 shares in the company, valued at approximately $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 2,382 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at $41,536,312.16. This represents a 3.19% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,062 shares of company stock worth $11,011,432 in the last 90 days. Company insiders own 4.50% of the company's stock.

HubSpot Trading Down 2.5%

HUBS stock traded down $14.05 during mid-day trading on Wednesday, reaching $543.27. 832,641 shares of the stock traded hands, compared to its average volume of 626,253. The company has a market cap of $28.65 billion, a P/E ratio of -1,207.27, a P/E/G ratio of 20.25 and a beta of 1.70. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The stock's fifty day moving average is $598.91 and its 200-day moving average is $652.56.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HUBS. Sanford C. Bernstein began coverage on shares of HubSpot in a research report on Thursday, March 20th. They set a "market perform" rating and a $693.00 target price for the company. Morgan Stanley boosted their target price on shares of HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Piper Sandler boosted their target price on shares of HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. Mizuho lowered their price target on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Macquarie began coverage on shares of HubSpot in a research report on Monday, March 24th. They issued an "outperform" rating and a $730.00 target price for the company. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, HubSpot has a consensus rating of "Moderate Buy" and an average target price of $766.71.

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.