HubSpot, Inc. $HUBS Shares Sold by Alight Capital Management LP

Key Points

• Alight Capital Management LP significantly reduced its holdings in HubSpot by 71.4%, owning 5,000 shares after selling 12,500 during the first quarter.
• Despite this reduction, several other investors increased their stakes in HubSpot, with Baird Financial Group notably growing its holdings by 15,320.5% in the same period.
• HubSpot reported $760.87 million in revenue for the last quarter, exceeding analyst estimates, and its earnings per share came in at $2.19, slightly above the consensus estimate of $2.12.

Alight Capital Management LP trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 71.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,000 shares of the software maker's stock after selling 12,500 shares during the period. HubSpot accounts for about 1.3% of Alight Capital Management LP's holdings, making the stock its 22nd biggest holding. Alight Capital Management LP's holdings in HubSpot were worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in HUBS. Elequin Capital LP bought a new stake in HubSpot during the fourth quarter worth approximately $27,000. Cullen Frost Bankers Inc. boosted its holdings in HubSpot by 130.8% in 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 acquired a new position in HubSpot during the first quarter worth $35,000. Colonial Trust Co SC increased its position in HubSpot by 111.1% during the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after buying an additional 30 shares during the last quarter. Finally, Clean Yield Group bought a new stake in HubSpot during the first quarter valued at about $41,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. BMO Capital Markets cut their target price on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Needham & Company LLC reissued a "buy" rating and issued a $900.00 price target on shares of HubSpot in a report on Thursday. JPMorgan Chase & Co. lowered their target price on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, UBS Group reissued an "outperform" rating on shares of HubSpot in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $722.93.

HubSpot Stock Performance

Shares of NYSE:HUBS traded up $8.49 during mid-day trading on Monday, reaching $496.02. 320,124 shares of the company's stock were exchanged, compared to its average volume of 740,190. The firm has a market capitalization of $26.14 billion, a price-to-earnings ratio of -2,156.61, a PEG ratio of 16.80 and a beta of 1.58. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13. The business's fifty day moving average price is $504.15 and its 200-day moving average price is $566.55.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, topping the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 earnings per share. Analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The shares were 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 directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the firm'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 completion of the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at approximately $22,670,843.94. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is owned by corporate insiders.

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.