Belpointe Asset Management LLC Buys New Shares 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 bought a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 1,462 shares of the software maker's stock, valued at approximately $835,000.

Several other institutional investors have also made changes to their positions in HUBS. Price T Rowe Associates Inc. MD increased its position in shares of HubSpot by 17.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker's stock worth $2,805,070,000 after acquiring an additional 714,980 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in HubSpot by 37.3% during 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 purchasing an additional 251,853 shares in the last quarter. Vanguard Group Inc. grew its position in HubSpot by 4.0% during the first quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock valued at $2,997,407,000 after purchasing an additional 201,994 shares in the last quarter. GAMMA Investing LLC grew its position in HubSpot by 80,552.5% during the first quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock valued at $1,018,280,000 after purchasing an additional 178,021 shares in the last quarter. Finally, Nuveen LLC purchased a new position in HubSpot during the first quarter valued at approximately $99,963,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. BMO Capital Markets lowered their price objective on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Piper Sandler assumed coverage on shares of HubSpot in a research report on Thursday, September 4th. They set an "overweight" rating and a $675.00 price objective on the stock. UBS Group reaffirmed an "outperform" rating on shares of HubSpot in a research report on Wednesday, September 3rd. KeyCorp lowered their price objective on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research report on Thursday, September 4th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $722.93.

HubSpot Trading Up 1.4%

NYSE HUBS traded up $7.12 during trading on Thursday, reaching $514.42. The company's stock had a trading volume of 247,548 shares, compared to its average volume of 737,885. The stock has a market capitalization of $27.10 billion, a PE ratio of -2,236.13, a PEG ratio of 17.37 and a beta of 1.58. The business has a 50-day moving average price of $495.05 and a 200-day moving average price of $556.45. HubSpot, Inc. has a 1-year low of $418.34 and a 1-year 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, beating analysts' consensus estimates of $2.12 by $0.07. The firm had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The company's revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 earnings per share. As a group, analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the completion of the transaction, the director owned 522,435 shares of the company's stock, valued at $235,012,160.40. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the business'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 transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,594 shares of company stock worth $21,410,984 in the last 90 days. Insiders own 4.00% of the company's stock.

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.