Assetmark Inc. Acquires 3,851 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Assetmark Inc. has increased its stake in HubSpot, Inc. by 43.8% during the first quarter, now holding a total of 12,634 shares valued at approximately $7.2 million.
• Several institutional investors have also adjusted their positions in HubSpot, with Prudential Financial Inc. notably raising its stake by 318.8% in the fourth quarter.
• Analysts have mixed views on HubSpot's stock, with some downgrading their ratings while others maintain a positive outlook, resulting in a consensus rating of "Moderate Buy" and a price target of $759.04.

Assetmark Inc. boosted its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 43.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,634 shares of the software maker's stock after buying an additional 3,851 shares during the quarter. Assetmark Inc.'s holdings in HubSpot were worth $7,217,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Elequin Capital LP purchased a new stake in shares of HubSpot in the 4th quarter worth $27,000. Coppell Advisory Solutions LLC increased its holdings in shares of HubSpot by 91.7% in the fourth 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. Aster Capital Management DIFC Ltd increased its stake in HubSpot by 213.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after acquiring an additional 32 shares during the last quarter. Cullen Frost Bankers Inc. boosted its holdings in HubSpot by 130.8% in the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after purchasing an additional 34 shares during the period. Finally, Colonial Trust Co SC boosted its holdings in 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 period. Institutional investors own 90.39% of the company's stock.

Analyst Ratings Changes

HUBS has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on HubSpot in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 target price on the stock. Wells Fargo & Company dropped their price target on HubSpot from $700.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Piper Sandler boosted their price target on HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $825.00 price objective (down previously from $980.00) on shares of HubSpot in a report on Friday, May 9th. Finally, Wall Street Zen lowered HubSpot from a "buy" rating to a "hold" rating in a report on Saturday, July 26th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus price target of $759.04.

Insider Transactions at HubSpot

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Yamini Rangan sold 2,383 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,998 shares of company stock worth $10,928,616. Insiders own 4.50% of the company's stock.

HubSpot Stock Down 1.7%

HUBS traded down $9.39 during trading on Thursday, hitting $528.84. 270,573 shares of the company traded hands, compared to its average volume of 684,756. The firm has a market cap of $27.89 billion, a P/E ratio of -1,175.19, a price-to-earnings-growth ratio of 19.95 and a beta of 1.66. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The stock's fifty day moving average is $564.65 and its 200 day moving average is $624.01.

About HubSpot

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.