Assenagon Asset Management S.A. Acquires 130,433 Shares of HubSpot, Inc. $HUBS

Key Points

• Assenagon Asset Management increased its HubSpot stake by 135.3% in the second quarter, acquiring 130,433 shares and bringing its holdings to 226,818 shares worth approximately $41.4 million. Institutional investors collectively own 90.39% of the company.
• HubSpot’s second-quarter results exceeded expectations, with adjusted EPS of $3.26 and revenue of $911.7 million, up 19.8% year over year. Growth was supported by customer additions, subscriptions and demand for AI-powered CRM tools.
• Despite the earnings beat, shares face pressure after third-quarter revenue guidance of $924–$925 million fell below the $941.2 million consensus estimate. Several analysts cut ratings or price targets, leaving the stock with a consensus “Hold” rating and a $268.90 target price.

Assenagon Asset Management S.A. grew its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 135.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 226,818 shares of the software maker's stock after purchasing an additional 130,433 shares during the period. Assenagon Asset Management S.A. owned about 0.44% of HubSpot worth $41,397,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in HUBS. Price T Rowe Associates Inc. MD boosted its stake in shares of HubSpot by 36.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,581,922 shares of the software maker's stock worth $1,838,727,000 after buying an additional 1,224,424 shares during the last quarter. Pictet Asset Management Holding SA increased its position in shares of HubSpot by 13.1% in the first quarter. Pictet Asset Management Holding SA now owns 2,188,191 shares of the software maker's stock valued at $533,993,000 after acquiring an additional 252,604 shares during the last quarter. State Street Corp increased its position in shares of HubSpot by 3.7% in the fourth quarter. State Street Corp now owns 1,191,843 shares of the software maker's stock valued at $478,287,000 after acquiring an additional 42,948 shares during the last quarter. AQR Capital Management LLC raised its holdings in HubSpot by 117.6% during the fourth quarter. AQR Capital Management LLC now owns 1,188,981 shares of the software maker's stock worth $477,138,000 after acquiring an additional 642,545 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in HubSpot by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 971,712 shares of the software maker's stock worth $388,917,000 after acquiring an additional 14,159 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Activity

In related news, Director Lorrie M. Norrington purchased 1,313 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The shares were acquired at an average price of $190.42 per share, for a total transaction of $250,021.46. Following the purchase, the director owned 2,838 shares in the company, valued at approximately $540,411.96. This represents a 86.10% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, July 21st. The shares were sold at an average price of $221.09, for a total transaction of $1,879,265.00. Following the completion of the transaction, the director directly owned 85,000 shares in the company, valued at approximately $18,792,650. This represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 14,063 shares of company stock valued at $2,585,781 and sold 26,202 shares valued at $5,481,959. 3.70% of the stock is owned by company insiders.

Key Stories Impacting HubSpot

Here are the key news stories impacting HubSpot this week:

• Positive Sentiment: HubSpot’s second-quarter results exceeded expectations: adjusted EPS was $3.26 versus the $3.02 consensus, while revenue reached $911.7 million, up 19.8% year over year and ahead of estimates. Customer additions, subscription growth and demand for AI-powered CRM tools supported the quarter. HubSpot Q2 Earnings Beat Estimates
• Positive Sentiment: KeyCorp retained an “overweight” rating with a $285 target, and BTIG maintained a “buy” rating with a $250 target. These analysts see substantial upside if HubSpot converts its AI investments into sustained growth and margin expansion.
• Neutral Sentiment: Management is expanding AI product trials and lowering entry prices to accelerate adoption. The initiatives could strengthen long-term demand, but longer sales cycles and tighter customer software budgets are creating near-term pressure. HUBS Q2 Earnings Call Highlights
• Neutral Sentiment: Jerry Dischler, an experienced AI and digital advertising executive, joined HubSpot’s board, potentially adding strategic expertise as the company develops its AI platform. A director’s sale of 702 shares was relatively small but adds limited insider-selling noise.
• Negative Sentiment: Third-quarter revenue guidance of approximately $924 million-$925 million was below the $941.2 million analyst consensus. The shortfall overshadowed the earnings beat and fueled fears that HubSpot’s growth is slowing as customers delay or scrutinize technology purchases. HubSpot Guidance Report
• Negative Sentiment: Analysts including Stifel, TD Cowen and Piper Sandler downgraded or lowered price targets, citing slower net additions, execution risks and a transition from a premium growth valuation toward a more value-oriented profile.
• Negative Sentiment: Block & Leviton announced an investigation into possible securities-law violations following the sharp decline. The announcement creates headline and legal risk, although it does not establish wrongdoing by HubSpot. HubSpot Investigation Announcement

HubSpot Stock Up 3.7%

NYSE:HUBS opened at $209.96 on Friday. HubSpot, Inc. has a 12-month low of $169.63 and a 12-month high of $525.51. The firm has a market capitalization of $10.75 billion, a price-to-earnings ratio of 74.19, a P/E/G ratio of 2.29 and a beta of 1.19. The stock's 50 day moving average price is $206.74 and its two-hundred day moving average price is $229.37.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 5th. The software maker reported $3.26 EPS for the quarter, topping the consensus estimate of $3.02 by $0.24. The company had revenue of $911.74 million during the quarter, compared to the consensus estimate of $898.31 million. HubSpot had a return on equity of 8.66% and a net margin of 4.26%.The firm's revenue for the quarter was up 19.8% compared to the same quarter last year. During the same period in the previous year, the company posted $2.19 EPS. HubSpot has set its FY 2026 guidance at 13.230-13.310 EPS and its Q3 2026 guidance at 3.250-3.270 EPS. Equities research analysts expect that HubSpot, Inc. will post 4.41 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on HUBS shares. William Blair cut HubSpot from an "outperform" rating to a "market perform" rating in a research report on Friday, May 8th. Canaccord Genuity Group dropped their price objective on HubSpot from $335.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday. Wall Street Zen downgraded HubSpot from a "strong-buy" rating to a "buy" rating in a report on Saturday, July 4th. BTIG Research decreased their target price on shares of HubSpot from $300.00 to $250.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Oppenheimer downgraded shares of HubSpot from an "outperform" rating to a "market perform" rating in a report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, fifteen have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $268.90.

HubSpot Company Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company's product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.

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