Banque Cantonale Vaudoise Acquires New Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Banque Cantonale Vaudoise acquired 1,554 shares of HubSpot, Inc. valued at approximately $888,000 during the first quarter, adding to its investment portfolio.
• Several major investors have increased their stakes in HubSpot, with Massachusetts Financial Services boosting its holdings by 37.3%, now owning shares worth over $530 million.
• Analysts maintain a positive outlook on HubSpot, with a consensus rating of "Moderate Buy" and a price target averaging around $759.04 despite a recent decrease in target prices by some firms.

Banque Cantonale Vaudoise bought a new stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 1,554 shares of the software maker's stock, valued at approximately $888,000.

Several other hedge funds also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in shares of HubSpot by 37.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock valued at $530,115,000 after buying an additional 251,853 shares during the period. Geode Capital Management LLC raised its stake in shares of HubSpot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker's stock valued at $577,572,000 after buying an additional 9,922 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of HubSpot by 7.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 567,465 shares of the software maker's stock valued at $395,393,000 after buying an additional 40,404 shares during the period. Northern Trust Corp raised its stake in shares of HubSpot by 18.0% in the fourth quarter. Northern Trust Corp now owns 345,535 shares of the software maker's stock valued at $240,758,000 after buying an additional 52,792 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of HubSpot by 19.2% in the fourth quarter. AQR Capital Management LLC now owns 208,237 shares of the software maker's stock valued at $145,094,000 after buying an additional 33,566 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Trading Down 4.1%

Shares of HUBS stock traded down $21.32 during trading hours on Friday, reaching $498.33. The company's stock had a trading volume of 679,039 shares, compared to its average volume of 714,794. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The stock has a market capitalization of $26.28 billion, a P/E ratio of -1,107.40, a P/E/G ratio of 18.13 and a beta of 1.67. The firm's fifty day simple moving average is $560.18 and its 200 day simple moving average is $620.75.

Insider Activity at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares in the company, valued at $283,718,775.45. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction 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 sale, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 over the last ninety days. 4.50% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company dropped their price objective on HubSpot from $700.00 to $675.00 and set an "overweight" rating on the stock in a report on Monday, June 9th. Truist Financial dropped their price objective on HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC reissued a "buy" rating and set a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. Cantor Fitzgerald assumed coverage on HubSpot in a report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective on the stock. Finally, Raymond James Financial reissued an "outperform" rating and set a $825.00 price objective (down previously from $980.00) on shares of HubSpot in a report on Friday, May 9th. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $759.04.

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.