1832 Asset Management L.P. Sells 73,600 Shares of HubSpot, Inc. $HUBS

Key Points

• 1832 Asset Management L.P. reduced its stake in HubSpot, Inc. by 46.4%, selling 73,600 shares and retaining 85,000 shares valued at approximately $48.56 million.
• Multiple institutional investors have recently increased their holdings in HubSpot, with Tower Research Capital boosting its stake by an impressive 215.1%.
• Despite a mix of analyst price adjustments, HubSpot maintains a strong overall market sentiment with an average rating of "Moderate Buy" and an average price target of $726.04.

1832 Asset Management L.P. decreased its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 46.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 85,000 shares of the software maker's stock after selling 73,600 shares during the period. 1832 Asset Management L.P. owned 0.16% of HubSpot worth $48,560,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of HUBS. Highview Capital Management LLC DE boosted its holdings in shares of HubSpot by 4.5% during the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock worth $2,098,000 after buying an additional 129 shares during the period. Dimensional Fund Advisors LP boosted its holdings in HubSpot by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 87,019 shares of the software maker's stock valued at $60,635,000 after purchasing an additional 5,789 shares during the period. Tower Research Capital LLC TRC boosted its holdings in HubSpot by 215.1% in the 4th quarter. Tower Research Capital LLC TRC now owns 983 shares of the software maker's stock valued at $685,000 after purchasing an additional 671 shares during the period. TD Waterhouse Canada Inc. boosted its holdings in HubSpot by 15.4% in the 4th quarter. TD Waterhouse Canada Inc. now owns 157 shares of the software maker's stock valued at $109,000 after purchasing an additional 21 shares during the period. Finally, Pinebridge Investments L.P. boosted its holdings in HubSpot by 45.3% in the 4th quarter. Pinebridge Investments L.P. now owns 14,229 shares of the software maker's stock valued at $9,914,000 after purchasing an additional 4,434 shares during the period. Institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. Stifel Nicolaus cut their price objective on shares of HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a report on Monday, July 14th. Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial cut their price objective on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, The Goldman Sachs Group cut their price objective on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating for the company in a report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $726.04.

Insider Buying and Selling

In related news, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the completion of the transaction, the director directly owned 522,435 shares in the company, valued at $235,012,160.40. This represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company'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 transaction of $339,350.85. Following the transaction, the chief financial officer owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock worth $14,752,256 in the last three months. 4.00% of the stock is owned by corporate insiders.

HubSpot Trading Up 4.0%

Shares of NYSE:HUBS opened at $474.2280 on Friday. The firm has a 50 day moving average of $518.67 and a 200-day moving average of $591.38. The stock has a market capitalization of $24.99 billion, a PE ratio of -2,061.86, a PEG ratio of 15.71 and a beta of 1.66. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 EPS. On average, research analysts predict that HubSpot, Inc. will post 1.01 EPS 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.

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