Bayforest Capital Ltd Has $444,000 Position in HubSpot, Inc. $HUBS

Key Points

• Bayforest Capital Ltd increased its stake in HubSpot, Inc. by 283.3%, owning 778 shares valued at $444,000 as of its latest SEC filing.
• HubSpot reported quarterly earnings of $2.19 per share, exceeding estimates and highlighting a 19.4% year-over-year revenue growth.
• HubSpot's stock has received multiple analyst upgrades, with a consensus target price of $722.93 and the majority rating it as a "Moderate Buy".

Bayforest Capital Ltd lifted its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 283.3% during the 1st quarter, according to the company in its most recent 13F filing with the 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 SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HUBS. Private Trust Co. NA boosted its stake in HubSpot by 481.5% in the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after buying an additional 130 shares in the last quarter. Principal Financial Group Inc. boosted its position in HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after acquiring an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC grew its stake in HubSpot by 1,840.0% during the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock worth $55,000 after purchasing an additional 92 shares during the period. Oppenheimer & Co. Inc. bought a new stake in HubSpot in the first quarter worth approximately $235,000. Finally, Amalgamated Bank boosted its stake in HubSpot by 6.9% during the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after acquiring an additional 226 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Stock Up 0.9%

Shares of NYSE:HUBS opened at $503.11 on Wednesday. The company has a 50-day moving average price of $501.87 and a two-hundred day moving average price of $564.53. The firm has a market capitalization of $26.51 billion, a PE ratio of -2,187.43, a P/E/G ratio of 17.17 and a beta of 1.58. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The firm had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. During the same quarter in the prior year, the business posted $1.94 earnings per share. The business's quarterly revenue was up 19.4% on a year-over-year basis. Analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on HUBS shares. Cantor Fitzgerald assumed coverage on shares of HubSpot in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective on the stock. Canaccord Genuity Group cut their target price on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Raymond James Financial dropped their price objective on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Piper Sandler assumed coverage on shares of HubSpot in a report on Thursday, September 4th. They issued an "overweight" rating and a $675.00 target price on the stock. Finally, UBS Group restated an "outperform" rating on shares of HubSpot in a report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus target price of $722.93.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction that occurred 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 sale, the chief executive officer directly owned 63,918 shares in the company, valued at $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction on 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 directly owned 41,086 shares in the company, valued at approximately $22,670,843.94. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,498 shares of company stock valued at $14,752,256. Company insiders own 4.00% of the company's stock.

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.

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