ING Groep NV Buys New Shares in HubSpot, Inc. (NYSE:HUBS)

Key Points

• ING Groep NV has acquired 16,300 shares of HubSpot, Inc. (NYSE:HUBS) valued at approximately $9.31 million during the first quarter.
• Recent analyst reports resulted in lowered price targets for HubSpot, with Barclays setting a new target of $675 while Jefferies reduced theirs to $700.
• Insider trading activity has seen HubSpot's CEO and a director sell substantial shares recently, contributing to a total of 19,998 shares sold by insiders over the last 90 days.

ING Groep NV acquired a new position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 16,300 shares of the software maker's stock, valued at approximately $9,312,000.

Several other institutional investors also recently added to or reduced their stakes in HUBS. Earned Wealth Advisors LLC grew its stake in HubSpot by 23.4% in the 1st quarter. Earned Wealth Advisors LLC now owns 433 shares of the software maker's stock valued at $247,000 after acquiring an additional 82 shares during the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its holdings in shares of HubSpot by 24.5% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 6,600 shares of the software maker's stock valued at $3,771,000 after acquiring an additional 1,300 shares in the last quarter. Commerce Bank raised its stake in shares of HubSpot by 6.1% during the first quarter. Commerce Bank now owns 5,506 shares of the software maker's stock valued at $3,146,000 after purchasing an additional 316 shares during the period. Jefferies Financial Group Inc. grew its holdings in HubSpot by 59.2% during the 1st quarter. Jefferies Financial Group Inc. now owns 11,940 shares of the software maker's stock valued at $6,821,000 after purchasing an additional 4,440 shares in the last quarter. Finally, Alberta Investment Management Corp lifted its holdings in HubSpot by 68.4% in the 1st quarter. Alberta Investment Management Corp now owns 6,400 shares of the software maker's stock worth $3,656,000 after buying an additional 2,600 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

HubSpot Stock Performance

HUBS traded down $30.44 during trading on Thursday, reaching $462.18. 2,779,649 shares of the company's stock were exchanged, compared to its average volume of 803,437. HubSpot, Inc. has a fifty-two week low of $444.25 and a fifty-two week high of $881.13. The company's fifty day moving average price is $552.97 and its 200-day moving average price is $616.91. The firm has a market capitalization of $24.38 billion, a PE ratio of -2,009.50, a P/E/G ratio of 17.92 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.78%. The firm's revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company earned $1.94 earnings per share. Research analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HUBS has been the topic of several research reports. BMO Capital Markets dropped their price target on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday. Stifel Nicolaus dropped their price objective on HubSpot from $750.00 to $700.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. Piper Sandler upgraded HubSpot from a "neutral" rating to an "overweight" rating and lifted their target price for the stock from $645.00 to $675.00 in a report on Thursday. Mizuho cut their target price on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Finally, Oppenheimer lifted their target price on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, HubSpot currently has an average rating of "Moderate Buy" and an average price target of $729.93.

Insider Buying and Selling at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the transaction, the director directly owned 522,435 shares of the company's stock, valued at $283,718,775.45. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,998 shares of company stock valued at $10,928,616. 4.50% of the stock is currently owned by corporate insiders.

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.