Canada Pension Plan Investment Board Boosts Stock Holdings in HubSpot, Inc. $HUBS

Key Points

• The Canada Pension Plan Investment Board increased its stake in HubSpot, Inc. by 32.3%, owning approximately 0.12% of the company worth $36.6 million.
• CEO Yamini Rangan and Director Brian Halligan both sold shares of HubSpot, with Rangan reducing her holdings by 3.59% and Halligan by 1.60%.
• HubSpot's stock opened at $483.11 with a market cap of $25.45 billion and has seen a revenue increase of 19.4% year-over-year.

Canada Pension Plan Investment Board grew its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 32.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 64,053 shares of the software maker's stock after buying an additional 15,647 shares during the period. Canada Pension Plan Investment Board owned approximately 0.12% of HubSpot worth $36,593,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elequin Capital LP purchased a new position in shares of HubSpot in the 4th quarter worth $27,000. Cullen Frost Bankers Inc. grew its stake in shares of HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC purchased a new position in shares of HubSpot in the 1st quarter worth $35,000. Colonial Trust Co SC grew its stake in shares of HubSpot by 111.1% in the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after buying an additional 30 shares in the last quarter. Finally, Clean Yield Group purchased a new position in shares of HubSpot in the 1st quarter worth $41,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at HubSpot

In related news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated 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 sale, the director owned 522,435 shares in the company, valued at $235,012,160.40. This trade represents a 1.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated 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 owned 63,918 shares of the company's stock, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,498 shares of company stock worth $14,752,256 in the last 90 days. 4.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HUBS. Cantor Fitzgerald began coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price objective for the company. Truist Financial dropped their price objective on shares of HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. KeyCorp lowered their target price on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Wall Street Zen upgraded shares of HubSpot from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, JPMorgan Chase & Co. lowered their target price on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $722.93.

HubSpot Price Performance

Shares of HubSpot stock traded down $7.61 during trading on Thursday, hitting $465.10. The stock had a trading volume of 1,061,410 shares, compared to its average volume of 740,540. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The firm's fifty day simple moving average is $507.06 and its 200-day simple moving average is $573.78. The stock has a market cap of $24.51 billion, a PE ratio of -2,022.18, a PEG ratio of 16.65 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the business posted $1.94 EPS. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. Analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

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.