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

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

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elequin Capital LP purchased a new position in shares of HubSpot in the 4th quarter worth approximately $27,000. Larson Financial Group LLC lifted its position in HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker's stock valued at $30,000 after acquiring an additional 27 shares during the last quarter. Coppell Advisory Solutions LLC boosted its stake in HubSpot by 91.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after acquiring an additional 22 shares in the last quarter. Aster Capital Management DIFC Ltd grew its holdings in HubSpot by 213.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after purchasing an additional 32 shares during the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in HubSpot in the fourth quarter worth $36,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently commented on the company. Stifel Nicolaus set a $750.00 price objective on HubSpot in a report on Friday, April 25th. Piper Sandler upped their target price on HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Cantor Fitzgerald initiated coverage on HubSpot in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price target for the company. UBS Group boosted their price target on HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Scotiabank cut their price objective on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, HubSpot has an average rating of "Moderate Buy" and a consensus price target of $766.71.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 2,382 shares of the company'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 transaction of $1,367,077.44. Following the completion of the transaction, the chief executive officer now directly owns 72,373 shares of the company's stock, valued at $41,536,312.16. This represents a 3.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $548.03, for a total transaction of $4,658,255.00. Following the completion of the sale, the director now directly owns 523,984 shares in the company, valued at $287,158,951.52. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 20,062 shares of company stock worth $11,011,432. Company insiders own 4.50% of the company's stock.

HubSpot Stock Down 2.5%

Shares of NYSE HUBS traded down $14.05 during midday trading on Wednesday, reaching $543.27. 832,641 shares of the stock were exchanged, compared to its average volume of 626,253. The firm has a market cap of $28.65 billion, a price-to-earnings ratio of -1,207.27, a PEG ratio of 20.25 and a beta of 1.70. The firm has a 50-day simple moving average of $598.91 and a two-hundred day simple moving average of $652.56. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $881.13.

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.