Belpointe Asset Management LLC Takes $835,000 Position in HubSpot, Inc. $HUBS

Key Points

• Belpointe Asset Management LLC invested $835,000 in HubSpot, purchasing 1,462 shares during the first quarter.
• HubSpot's stock has seen various analysts set new price targets, with Sanford C. Bernstein upgrading its rating to "outperform" and setting a target of $606.00.
• Insider trading activity includes Director Brian Halligan selling 8,500 shares for approximately $3.82 million, while CFO Kathryn Bueker sold 119 shares for $59,500.

Belpointe Asset Management LLC purchased a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 1,462 shares of the software maker's stock, valued at approximately $835,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Elequin Capital LP bought a new position in HubSpot during the fourth quarter worth about $27,000. Cullen Frost Bankers Inc. boosted its holdings in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in HubSpot during the first quarter worth about $35,000. Clean Yield Group bought a new position in HubSpot during the first quarter worth about $41,000. Finally, GW&K Investment Management LLC boosted its holdings in HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock worth $45,000 after buying an additional 53 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Transactions at HubSpot

In other news, CEO Yamini Rangan sold 477 shares of the company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $500.00, for a total transaction of $238,500.00. Following the completion of the sale, the chief executive officer directly owned 62,291 shares in the company, valued at approximately $31,145,500. This represents a 0.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of the company's stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total value of $2,381,095.20. Following the sale, the chief technology officer owned 1,271,058 shares of the company's stock, valued at approximately $637,562,692.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 51,094 shares of company stock valued at $26,069,239. Company insiders own 4.00% of the company's stock.

HubSpot Trading Up 3.4%

Shares of NYSE:HUBS traded up $16.68 during trading on Monday, hitting $508.16. 642,830 shares of the company were exchanged, compared to its average volume of 776,623. The stock has a market cap of $26.77 billion, a price-to-earnings ratio of -2,209.39, a P/E/G ratio of 16.93 and a beta of 1.58. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The firm has a fifty day moving average price of $497.22 and a two-hundred day moving average price of $557.17.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share 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 analyst estimates of $739.94 million. During the same quarter in the previous year, the firm earned $1.94 EPS. The business's quarterly revenue was up 19.4% on a year-over-year basis. As a group, research analysts predict that HubSpot, Inc. will post 1.01 EPS for the current year.

Wall Street Analyst Weigh In

HUBS has been the topic of a number of recent analyst reports. Truist Financial reduced their target price on HubSpot from $720.00 to $675.00 and set a "buy" rating on the stock in a report on Thursday, August 7th. Macquarie cut their price objective on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Piper Sandler initiated coverage on HubSpot in a report on Thursday, September 4th. They set an "overweight" rating and a $675.00 price objective on the stock. UBS Group reiterated an "outperform" rating on shares of HubSpot in a report on Wednesday, September 3rd. Finally, BMO Capital Markets cut their price objective on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $722.93.

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.