Bayforest Capital Ltd Boosts Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Bayforest Capital Ltd significantly increased its holdings in HubSpot, acquiring an additional 575 shares for a total of 778 shares worth approximately $444,000.
• Major institutional investors have also raised their positions in HubSpot, indicating a strong interest in the company, with over 90% of the stock owned by hedge funds and institutional investors.
• Analysts have varied target prices for HubSpot, with Goldman Sachs reducing its target from $900 to $795, while Citigroup raised its target from $750 to $759, reflecting mixed outlooks in the market.

Bayforest Capital Ltd boosted its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 283.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 778 shares of the software maker's stock after purchasing an additional 575 shares during the quarter. Bayforest Capital Ltd's holdings in HubSpot were worth $444,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Wedbush Securities Inc. raised its position in HubSpot by 3.4% during the 4th quarter. Wedbush Securities Inc. now owns 393 shares of the software maker's stock valued at $274,000 after purchasing an additional 13 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in HubSpot by 1.1% during the 1st quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker's stock valued at $861,000 after acquiring an additional 16 shares during the period. WCM Investment Management LLC lifted its stake in HubSpot by 0.6% during the 1st quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker's stock valued at $1,553,000 after acquiring an additional 17 shares during the period. Yousif Capital Management LLC increased its position in shares of HubSpot by 3.0% during the 1st quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock valued at $378,000 after purchasing an additional 19 shares during the last quarter. Finally, Ballentine Partners LLC increased its position in shares of HubSpot by 3.5% during the 1st quarter. Ballentine Partners LLC now owns 584 shares of the software maker's stock valued at $334,000 after purchasing an additional 20 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 value of $1,314,915.57. Following the completion of the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. This trade represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, July 15th. The shares were 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 $283,718,775.45. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,998 shares of company stock valued at $10,928,616. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently issued reports on HUBS. Piper Sandler increased their target price on shares of HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a report on Friday, May 9th. Morgan Stanley lifted their target price on HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Raymond James Financial restated an "outperform" rating and issued a $825.00 price objective (down from $980.00) on shares of HubSpot in a report on Friday, May 9th. Mizuho decreased their price target on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Finally, Oppenheimer increased their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Five investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $759.04.

HubSpot Price Performance

Shares of NYSE:HUBS traded down $21.32 during trading on Friday, hitting $498.33. 679,039 shares of the company were exchanged, compared to its average volume of 714,794. The stock has a market capitalization of $26.28 billion, a P/E ratio of -1,107.40, a PEG ratio of 18.90 and a beta of 1.67. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13. The firm's 50 day moving average price is $560.18 and its 200-day moving average price is $621.35.

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.