Kentucky Retirement Systems Takes Position in HubSpot, Inc. (NYSE:HUBS)

Kentucky Retirement Systems purchased a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,383 shares of the software maker's stock, valued at approximately $1,933,000.

Other hedge funds also recently made changes to their positions in the company. Farther Finance Advisors LLC raised its stake in HubSpot by 5.4% during the fourth quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker's stock worth $178,000 after acquiring an additional 13 shares in the last quarter. Wedbush Securities Inc. grew its stake in HubSpot by 3.4% during the fourth quarter. Wedbush Securities Inc. now owns 393 shares of the software maker's stock worth $274,000 after buying an additional 13 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in shares of HubSpot by 2.4% during the fourth quarter. First Horizon Advisors Inc. now owns 638 shares of the software maker's stock worth $445,000 after buying an additional 15 shares in the last quarter. Amalgamated Bank raised its stake in shares of HubSpot by 0.5% in the fourth quarter. Amalgamated Bank now owns 3,259 shares of the software maker's stock valued at $2,271,000 after acquiring an additional 16 shares during the last quarter. Finally, Principal Securities Inc. boosted its holdings in shares of HubSpot by 17.2% in the 4th quarter. Principal Securities Inc. now owns 116 shares of the software maker's stock worth $81,000 after acquiring an additional 17 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

HubSpot Price Performance

Shares of NYSE HUBS traded up $2.56 during midday trading on Friday, reaching $550.32. 1,008,498 shares of the stock were exchanged, compared to its average volume of 626,400. The company has a market capitalization of $29.02 billion, a price-to-earnings ratio of -1,222.94, a P/E/G ratio of 19.75 and a beta of 1.70. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The business has a 50-day simple moving average of $599.08 and a two-hundred day simple moving average of $651.26.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on HUBS shares. Citigroup raised their price target on HubSpot from $750.00 to $759.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Needham & Company LLC restated a "buy" rating and set a $900.00 target price on shares of HubSpot in a report on Friday, May 9th. Wells Fargo & Company cut their price target on HubSpot from $700.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, June 9th. BMO Capital Markets lowered their price objective on shares of HubSpot from $885.00 to $745.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, 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 note on Friday, May 9th. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $766.71.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 2,382 shares of the business's 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 sale, the chief executive officer now owns 72,373 shares in the company, valued at approximately $41,536,312.16. The trade was a 3.19% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the transaction, the insider now directly owns 525,687 shares of the company's stock, valued at $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,062 shares of company stock worth $11,011,432. Company insiders own 4.50% of the company's stock.

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.