HubSpot, Inc. $HUBS Shares Acquired by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in HubSpot, Inc. by 64.2%, acquiring an additional 133,720 shares in the first quarter, bringing its total holdings to 341,957 shares worth approximately $191.43 million.
• HubSpot reported a 19.4% increase in quarterly revenue year-over-year, equating to $760.87 million, and earnings per share (EPS) of $2.19, exceeding estimates of $2.12.
• A significant portion of HubSpot's stock, approximately 90.39%, is held by institutional investors, with various funds actively adjusting their positions in the stock during the first quarter.

AQR Capital Management LLC increased its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 64.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,957 shares of the software maker's stock after buying an additional 133,720 shares during the quarter. AQR Capital Management LLC owned about 0.65% of HubSpot worth $191,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in HUBS. Highview Capital Management LLC DE lifted its position in HubSpot by 4.5% during the fourth quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock worth $2,098,000 after buying an additional 129 shares during the period. Mercer Global Advisors Inc. ADV lifted its position in HubSpot by 28.5% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,087 shares of the software maker's stock worth $1,454,000 after buying an additional 463 shares during the period. Brown Advisory Inc. lifted its position in HubSpot by 10.0% during the fourth quarter. Brown Advisory Inc. now owns 18,501 shares of the software maker's stock worth $12,891,000 after buying an additional 1,681 shares during the period. Captrust Financial Advisors lifted its position in HubSpot by 41.8% during the fourth quarter. Captrust Financial Advisors now owns 1,933 shares of the software maker's stock worth $1,347,000 after buying an additional 570 shares during the period. Finally, Cetera Investment Advisers lifted its position in HubSpot by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 4,152 shares of the software maker's stock worth $2,893,000 after buying an additional 127 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Raymond James Financial dropped their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Sanford C. Bernstein upgraded HubSpot from a "market perform" rating to an "outperform" rating and set a $606.00 price target for the company in a research note on Wednesday, September 3rd. Wells Fargo & Company upped their price target on HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Cantor Fitzgerald assumed coverage on HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price target for the company. Finally, Piper Sandler assumed coverage on HubSpot in a research note on Thursday, September 4th. They set an "overweight" rating and a $675.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $722.93.

HubSpot Trading Up 0.6%

NYSE HUBS traded up $2.76 during mid-day trading on Tuesday, reaching $501.29. 372,012 shares of the company's stock traded hands, compared to its average volume of 741,534. HubSpot, Inc. has a 1-year low of $418.34 and a 1-year high of $881.13. The company has a fifty day simple moving average of $502.97 and a 200-day simple moving average of $564.96. The company has a market cap of $26.41 billion, a price-to-earnings ratio of -2,185.85, a P/E/G ratio of 16.80 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings data 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. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The firm had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the firm earned $1.94 EPS. HubSpot's quarterly revenue was up 19.4% on a year-over-year basis. Equities research analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Transactions at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of HubSpot 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot 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 $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 approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is currently owned by corporate 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.