Caisse DE Depot ET Placement DU Quebec Trims Stock Position in HubSpot, Inc. $HUBS

Key Points

• Caisse DE Depot ET Placement DU Quebec reduced its stake in HubSpot, Inc. by 40.7%, now owning 8,529 shares worth approximately $4.87 million.
• HubSpot's recent quarterly earnings report showed an EPS of $2.19, exceeding analysts' expectations, with a year-over-year revenue increase of 19.4%.
• HubSpot's stock has a current price target consensus of $726.04, with a majority of analysts rating it as a "Buy" or "Strong Buy."

Caisse DE Depot ET Placement DU Quebec lowered its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 40.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,529 shares of the software maker's stock after selling 5,849 shares during the quarter. Caisse DE Depot ET Placement DU Quebec's holdings in HubSpot were worth $4,873,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of HUBS. Highview Capital Management LLC DE raised its holdings in HubSpot by 4.5% in the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock valued at $2,098,000 after buying an additional 129 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of HubSpot by 7.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 87,019 shares of the software maker's stock valued at $60,635,000 after acquiring an additional 5,789 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in shares of HubSpot in the 4th quarter worth approximately $1,185,000. Northern Trust Corp boosted its position in shares of HubSpot by 18.0% during the 4th quarter. Northern Trust Corp now owns 345,535 shares of the software maker's stock worth $240,758,000 after purchasing an additional 52,792 shares during the period. Finally, Lido Advisors LLC boosted its position in shares of HubSpot by 78.8% during the 4th quarter. Lido Advisors LLC now owns 1,976 shares of the software maker's stock worth $1,377,000 after purchasing an additional 871 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Stock Performance

Shares of HUBS traded up $6.77 during midday trading on Friday, hitting $483.11. The company had a trading volume of 817,566 shares, compared to its average volume of 1,102,654. The company's 50-day simple moving average is $511.25 and its 200-day simple moving average is $577.51. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The firm has a market capitalization of $25.45 billion, a P/E ratio of -2,100.46, a P/E/G ratio of 16.65 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The firm had revenue of $760.87 million for the quarter, compared to analysts' expectations of $739.94 million. During the same quarter last year, the company earned $1.94 earnings per share. The firm's revenue was up 19.4% compared to the same quarter last year. Equities analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Kathryn Bueker sold 615 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares of the company's stock, 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. Insiders have sold 28,498 shares of company stock valued at $14,752,256 over the last quarter. 4.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on HUBS shares. Needham & Company LLC restated a "buy" rating and set a $900.00 price target on shares of HubSpot in a research note on Friday, May 9th. Citigroup decreased their target price on HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a research note on Friday, August 8th. Raymond James Financial dropped their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. KeyCorp cut their price target on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler raised shares of HubSpot from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $645.00 to $675.00 in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.04.

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.