Allstate Corp Increases Stock Holdings in HubSpot, Inc. $HUBS

Key Points

• Allstate Corp increased its stock position in HubSpot, Inc. by 50.5% during the first quarter, bringing its total holdings to 2,173 shares worth approximately $1.24 million.
• Other institutional investors, including Vanguard Group and Price T Rowe Associates, also raised their stakes in HubSpot, contributing to a total of 90.39% of the stock owned by hedge funds and institutional investors.
• HubSpot reported a 19.4% increase in quarterly revenue year-over-year, with earnings per share exceeding analysts' expectations at $2.19 compared to estimates of $2.12.

Allstate Corp increased its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 50.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,173 shares of the software maker's stock after purchasing an additional 729 shares during the period. Allstate Corp's holdings in HubSpot were worth $1,241,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in shares of HubSpot in the fourth quarter worth $27,000. Coppell Advisory Solutions LLC boosted its position in shares of HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after buying an additional 22 shares during the last quarter. Colonial Trust Co SC lifted its holdings in HubSpot by 111.1% in the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock valued at $40,000 after acquiring an additional 30 shares during the period. Cullen Frost Bankers Inc. lifted 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 valued at $34,000 after acquiring an additional 34 shares during the period. Finally, N.E.W. Advisory Services LLC bought a new position in HubSpot in the first quarter valued at about $35,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the transaction, the director directly owned 522,435 shares of the company's stock, valued at approximately $235,012,160.40. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value 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 approximately $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. In the last three months, insiders sold 28,498 shares of company stock valued at $14,752,256. Corporate insiders own 4.00% of the company's stock.

HubSpot Stock Performance

NYSE HUBS traded down $10.60 on Tuesday, reaching $457.32. 798,922 shares of the stock traded hands, compared to its average volume of 1,086,782. The company has a market cap of $24.10 billion, a price-to-earnings ratio of -1,988.35, a PEG ratio of 16.12 and a beta of 1.66. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The company has a fifty day moving average price of $515.10 and a 200-day moving average price of $585.74.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly 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 firm had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 EPS. As a group, research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on HUBS shares. Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Macquarie cut their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Oppenheimer lifted their target price on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. Canaccord Genuity Group dropped their target price on HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price objective on HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $726.04.

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.