Assenagon Asset Management S.A. Sells 21,999 Shares of HubSpot, Inc. $HUBS

Key Points

• Assenagon Asset Management S.A. reduced its holdings in HubSpot, Inc. by 56.4%, selling 21,999 shares and holding a total of 16,981 shares valued at approximately $9.45 million.
• HubSpot reported strong earnings, with an EPS of $2.19, surpassing analyst expectations, and a revenue increase of 19.4% year-over-year.
• Institutional investors now own 90.39% of HubSpot's stock, indicating a strong interest in the company from larger investment firms.

Assenagon Asset Management S.A. trimmed its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 56.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,981 shares of the software maker's stock after selling 21,999 shares during the period. Assenagon Asset Management S.A.'s holdings in HubSpot were worth $9,452,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Cullen Frost Bankers Inc. grew its stake in shares of HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after buying an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of HubSpot during the first quarter worth $35,000. Clean Yield Group purchased a new stake in shares of HubSpot during the first quarter valued at $41,000. GW&K Investment Management LLC boosted its stake in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock valued at $45,000 after purchasing an additional 53 shares during the period. Finally, S Bank Fund Management Ltd bought a new position in shares of HubSpot in the first quarter worth about $46,000. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

NYSE:HUBS opened at $514.13 on Wednesday. The firm's fifty day moving average is $493.57 and its two-hundred day moving average is $551.20. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of -2,235.35, a PEG ratio of 18.07 and a beta of 1.58. HubSpot, Inc. has a one year low of $418.34 and a one year high of $881.13.

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, topping analysts' consensus estimates of $2.12 by $0.07. The firm had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.94 earnings per share. As a group, equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $339,350.85. Following the completion of the transaction, the chief financial officer owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,094 shares of company stock valued at $25,716,404. 4.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HUBS has been the subject of several research reports. Macquarie lowered their price objective on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. BMO Capital Markets decreased their price target on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group lowered their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Needham & Company LLC restated a "buy" rating and set a $900.00 price objective on shares of HubSpot in a report on Thursday, September 4th. Finally, Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One 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 stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $722.93.

HubSpot 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.

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