Aigen Investment Management LP Purchases New Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Aigen Investment Management LP has acquired a new stake in HubSpot, investing approximately $942,000 for 1,649 shares in the first quarter.
• Institutional investors hold 90.39% of HubSpot's stock, with several firms, including WCM Investment Management and Venturi Wealth Management, increasing their stakes.
• Multiple analysts have updated their price targets for HubSpot, with the average target now at $726.04, signaling a largely optimistic view on the company's stock performance.

Aigen Investment Management LP bought a new stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,649 shares of the software maker's stock, valued at approximately $942,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HUBS. Elequin Capital LP acquired a new position in HubSpot during the 4th quarter valued at approximately $27,000. Coppell Advisory Solutions LLC lifted its holdings 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 during the last quarter. Cullen Frost Bankers Inc. lifted its stake in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after purchasing an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in HubSpot in the first quarter worth approximately $35,000. Finally, Colonial Trust Co SC raised its position in shares of HubSpot by 111.1% during the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after acquiring an additional 30 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

HUBS has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price target on HubSpot from $900.00 to $795.00 and set a "buy" rating for the company in a report on Friday, May 9th. Wells Fargo & Company set a $680.00 price objective on HubSpot and gave the company an "overweight" rating in a research report on Thursday, August 7th. Barclays reduced their target price on HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Citigroup reduced their price objective on HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Finally, Piper Sandler upgraded HubSpot from a "neutral" rating to an "overweight" rating and raised their target price for the company from $645.00 to $675.00 in a report on Thursday, August 7th. Three analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $726.04.

Insider Buying and Selling

In other HubSpot news, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the completion of the sale, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 2,383 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 $1,314,915.57. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 19,998 shares of company stock worth $10,928,616 in the last 90 days. Corporate insiders own 4.00% of the company's stock.

HubSpot Price Performance

Shares of NYSE HUBS traded down $7.85 during mid-day trading on Thursday, hitting $429.90. The company had a trading volume of 820,681 shares, compared to its average volume of 732,705. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The firm has a market cap of $22.65 billion, a P/E ratio of -1,869.13, a PEG ratio of 13.91 and a beta of 1.66. The business's 50-day simple moving average is $537.67 and its 200-day simple moving average is $607.03.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.07. The business had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.94 EPS. As a group, sell-side analysts predict that HubSpot, Inc. will post 1.01 EPS for the current 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.