HubSpot, Inc. (NYSE:HUBS) Shares Sold by Burney Co.

Key Points

• Burney Co. reduced its stake in HubSpot, Inc. by 36% during the first quarter, now holding 890 shares worth approximately $508,000.
• CFO Kathryn Bueker and CEO Yamini Rangan both sold shares in July 2023, indicating a decrease in insider ownership by 1.47% and 3.59%, respectively.
• Wall Street analysts have a consensus rating of "Moderate Buy" for HubSpot, with targets ranging from $645 to $900.

Burney Co. lowered its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 36.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 890 shares of the software maker's stock after selling 500 shares during the period. Burney Co.'s holdings in HubSpot were worth $508,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wakefield Asset Management LLLP acquired a new position in HubSpot during the first quarter worth approximately $217,000. Wedbush Securities Inc. increased its holdings in HubSpot by 110.7% in the 1st quarter. Wedbush Securities Inc. now owns 828 shares of the software maker's stock valued at $473,000 after purchasing an additional 435 shares in the last quarter. Legato Capital Management LLC increased its stake in HubSpot by 96.4% during the 1st quarter. Legato Capital Management LLC now owns 5,500 shares of the software maker's stock worth $3,142,000 after buying an additional 2,700 shares during the period. Venturi Wealth Management LLC increased its stake in shares of HubSpot by 1.1% in the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker's stock worth $861,000 after buying an additional 16 shares during the last quarter. Finally, Oak Thistle LLC acquired a new stake in HubSpot in the first quarter worth $1,412,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the sale, the director directly owned 522,435 shares in the company, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 in the last three months. Company insiders own 4.50% of the company's stock.

HubSpot Price Performance

Shares of HUBS traded down $8.77 on Tuesday, reaching $550.46. The company's stock had a trading volume of 140,394 shares, compared to its average volume of 683,433. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13. The stock has a market capitalization of $29.03 billion, a P/E ratio of -1,226.67, a PEG ratio of 20.80 and a beta of 1.66. The stock's 50 day simple moving average is $568.15 and its two-hundred day simple moving average is $625.14.

Analysts Set New Price Targets

HUBS has been the subject of a number of recent analyst reports. Mizuho decreased their price target on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Oppenheimer lifted their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research note on Friday, May 9th. Truist Financial decreased their price target on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Needham & Company LLC restated a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Finally, Wells Fargo & Company reduced their price target on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, June 9th. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, HubSpot presently has an average rating of "Moderate Buy" and a consensus price target of $759.04.

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.