California State Teachers Retirement System Lowers Holdings in HubSpot, Inc. (NYSE:HUBS)

California State Teachers Retirement System lessened its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,663 shares of the software maker's stock after selling 946 shares during the quarter. California State Teachers Retirement System owned about 0.14% of HubSpot worth $50,629,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Oak Harvest Investment Services acquired a new position in HubSpot during the 4th quarter valued at approximately $2,065,000. Mayflower Financial Advisors LLC acquired a new position in HubSpot during the 4th quarter valued at approximately $862,000. Legato Capital Management LLC acquired a new position in HubSpot during the 4th quarter valued at approximately $1,951,000. Twelve Points Wealth Management LLC acquired a new position in HubSpot during the 4th quarter valued at approximately $322,000. Finally, Northern Trust Corp boosted its holdings in shares of HubSpot by 18.0% in the 4th quarter. Northern Trust Corp now owns 345,535 shares of the software maker's stock valued at $240,758,000 after acquiring an additional 52,792 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity

In other news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the sale, the insider now directly owns 527,233 shares in the company, valued at $320,283,502.84. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 680 shares of the stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the completion of the sale, the chief executive officer now owns 71,693 shares of the company's stock, valued at $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,062 shares of company stock worth $11,516,757 over the last three months. Insiders own 4.50% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on HUBS. William Blair reaffirmed an "outperform" rating on shares of HubSpot in a report on Thursday, February 13th. JPMorgan Chase & Co. upped their price objective on shares of HubSpot from $635.00 to $725.00 and gave the company an "overweight" rating in a report on Tuesday, February 11th. Oppenheimer upped their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Barclays dropped their price objective on shares of HubSpot from $815.00 to $745.00 and set an "overweight" rating on the stock in a report on Friday, May 9th. Finally, KeyCorp raised shares of HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price objective on the stock in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $767.33.

HubSpot Trading Down 6.6%

HUBS traded down $40.41 during midday trading on Thursday, hitting $576.51. 1,285,808 shares of the company traded hands, compared to its average volume of 619,238. The company has a market capitalization of $30.40 billion, a price-to-earnings ratio of 6,406.38, a PEG ratio of 41.44 and a beta of 1.78. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The business has a 50 day simple moving average of $590.41 and a two-hundred day simple moving average of $671.54.

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.