Alberta Investment Management Corp Acquires 2,600 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Alberta Investment Management Corp increased its holdings in HubSpot, Inc. by 68.4%, acquiring an additional 2,600 shares, bringing their total to 6,400 shares valued at approximately $3.66 million.
• Insider transactions included CEO Yamini Rangan selling 2,383 shares and CFO Kathryn Bueker selling 615 shares, contributing to a total of 19,998 shares sold by insiders in the last 90 days.
• Various brokerage firms have adjusted their price targets for HubSpot; for example, Scotiabank and Mizuho have lowered their targets, while others maintain a consensus rating of "Moderate Buy" with an average target price of $759.04.

Alberta Investment Management Corp boosted its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 68.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,400 shares of the software maker's stock after acquiring an additional 2,600 shares during the quarter. Alberta Investment Management Corp's holdings in HubSpot were worth $3,656,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Elequin Capital LP bought a new position in HubSpot in the 4th quarter worth about $27,000. Coppell Advisory Solutions LLC increased its stake in HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after acquiring an additional 22 shares during the last quarter. Aster Capital Management DIFC Ltd increased its stake in HubSpot by 213.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after acquiring an additional 32 shares during the last quarter. Cullen Frost Bankers Inc. increased its stake in HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after acquiring an additional 34 shares during the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in HubSpot in the 1st quarter worth about $35,000. 90.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HubSpot

In other HubSpot news, 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 completion of the transaction, the chief executive officer owned 63,918 shares of the company's stock, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the 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 $339,350.85. Following the completion of the transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock valued at $10,928,616 in the last 90 days. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on HUBS. Scotiabank decreased their target price on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus cut their price objective on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a report on Monday, July 14th. Cantor Fitzgerald began coverage on HubSpot in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price objective for the company. Piper Sandler upped their price objective on HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Finally, Mizuho cut their price objective on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $759.04.

HubSpot Price Performance

HUBS opened at $498.33 on Friday. The business has a 50 day simple moving average of $560.18 and a two-hundred day simple moving average of $620.75. The firm has a market capitalization of $26.28 billion, a price-to-earnings ratio of -1,107.40, a PEG ratio of 18.13 and a beta of 1.67. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13.

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.

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