Armistice Capital LLC Has $6.88 Million Stock Holdings in HubSpot, Inc. $HUBS

Key Points

• Armistice Capital LLC significantly reduced its position in HubSpot, Inc. by 72.3%, now holding shares worth approximately $6.88 million after selling over 31,000 shares in the first quarter.
• Several institutional investors have increased their stakes in HubSpot, with Private Trust Co. NA raising its holdings by 481.5%, and they've been joined by acquisitions from firms like Oppenheimer & Co. Inc. and Golden State Wealth Management LLC.
• HubSpot's latest quarterly earnings showed a positive trend with a revenue increase of 19.4% year-over-year, reporting $760.87 million and earnings per share surpassing analysts' expectations.

Armistice Capital LLC cut its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 72.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 12,037 shares of the software maker's stock after selling 31,444 shares during the period. Armistice Capital LLC's holdings in HubSpot were worth $6,877,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Private Trust Co. NA grew its position in HubSpot by 481.5% during the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock worth $90,000 after buying an additional 130 shares in the last quarter. Principal Financial Group Inc. grew its position in HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock worth $16,427,000 after buying an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC grew its position in HubSpot by 1,840.0% during the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock worth $55,000 after buying an additional 92 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in HubSpot during the first quarter worth about $235,000. Finally, Amalgamated Bank grew its position in HubSpot by 6.9% during the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after buying an additional 226 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Yamini Rangan sold 2,383 shares of the 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 in the company, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the completion of the sale, the director directly owned 522,435 shares in the company, valued at approximately $235,012,160.40. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,498 shares of company stock valued at $14,752,256. Company insiders own 4.00% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on HUBS. Morgan Stanley lifted their price objective on HubSpot from $659.00 to $752.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company lifted 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. Cantor Fitzgerald began coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 target price for the company. Needham & Company LLC reiterated a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research note on Thursday. Finally, Raymond James Financial cut their target price on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $722.93.

HubSpot Stock Down 1.6%

HUBS stock traded down $7.61 during trading on Thursday, hitting $465.10. The company had a trading volume of 1,023,972 shares, compared to its average volume of 738,131. The firm has a 50-day moving average price of $507.06 and a 200-day moving average price of $573.78. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The stock has a market cap of $24.51 billion, a price-to-earnings ratio of -2,022.18, a PEG ratio of 16.65 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 EPS. Equities analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

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.