Ameriprise Financial Inc. Buys 77,258 Shares of HubSpot, Inc. $HUBS

Key Points

• Ameriprise Financial Inc. increased its stake in HubSpot by 63.3% in Q1 2023, holding approximately $113.90 million in shares, reflecting growing institutional interest in the company.
• HubSpot reported $760.87 million in revenue for the last quarter, surpassing analyst expectations and showing a 19.4% increase year-over-year.
• Several analysts have adjusted their price targets for HubSpot, with the average target now at $726.04, indicating a Moderate Buy rating from market analysts.

Ameriprise Financial Inc. increased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 63.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 199,373 shares of the software maker's stock after buying an additional 77,258 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.38% of HubSpot worth $113,899,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBS. Elequin Capital LP acquired a new stake in shares of HubSpot in the fourth quarter valued at approximately $27,000. Coppell Advisory Solutions LLC lifted its holdings in HubSpot by 91.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after purchasing an additional 22 shares during the last quarter. Cullen Frost Bankers Inc. boosted its position 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 during the period. N.E.W. Advisory Services LLC acquired a new position in shares of HubSpot in the first quarter valued at $35,000. Finally, Colonial Trust Co SC increased its holdings in shares of 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 purchasing an additional 30 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Wall Street Analyst Weigh In

HUBS has been the subject of a number of research reports. Cantor Fitzgerald assumed coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 target price for the company. Citigroup cut their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Truist Financial reduced their price objective on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. lowered their target price on HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Wells Fargo & Company boosted their price target on HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $726.04.

HubSpot Trading Up 1.1%

HubSpot stock traded up $5.45 during midday trading on Friday, reaching $481.79. The company's stock had a trading volume of 535,619 shares, compared to its average volume of 737,067. The stock has a market cap of $25.39 billion, a PE ratio of -2,096.94, a price-to-earnings-growth ratio of 16.17 and a beta of 1.66. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The business has a 50-day moving average price of $512.28 and a 200-day moving average price of $582.68.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. The company had revenue of $760.87 million for 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 quarterly revenue was up 19.4% compared to the same quarter last year. During the same period last year, the company posted $1.94 EPS. As a group, research analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at HubSpot

In other news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated 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 sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The shares were 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 $235,012,160.40. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is currently owned by insiders.

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.