CenterBook Partners LP Buys Shares of 2,662 HubSpot, Inc. (NYSE:HUBS)

CenterBook Partners LP purchased a new stake 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 fund purchased 2,662 shares of the software maker's stock, valued at approximately $1,521,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in HubSpot in the 4th quarter valued at $420,345,000. Massachusetts Financial Services Co. MA grew its stake in HubSpot by 37.3% in the 1st 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 during the period. Vanguard Group Inc. lifted its position in shares of HubSpot by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock valued at $2,997,407,000 after buying an additional 201,994 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of HubSpot by 80,552.5% during the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock valued at $1,018,280,000 after buying an additional 178,021 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of HubSpot by 61.9% during the 4th quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker's stock valued at $199,504,000 after buying an additional 109,449 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $548.03, for a total value of $4,658,255.00. Following the transaction, the director owned 523,984 shares of the company's stock, valued at $287,158,951.52. This represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the 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 completion of the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,178 shares of company stock valued at $6,720,521 over the last quarter. 4.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on HUBS shares. BNP Paribas started coverage on HubSpot in a report on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 price objective on the stock. Truist Financial dropped their price objective on HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Jefferies Financial Group dropped their price objective on HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Mizuho dropped their price objective on HubSpot from $900.00 to $700.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 price target on shares of HubSpot in a report on Friday, May 9th. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, HubSpot currently has an average rating of "Moderate Buy" and an average target price of $764.93.

HubSpot Price Performance

Shares of HUBS traded up $12.24 during mid-day trading on Wednesday, reaching $541.15. 603,026 shares of the company's stock traded hands, compared to its average volume of 608,763. The stock has a market cap of $28.54 billion, a P/E ratio of -1,202.55, a P/E/G ratio of 19.66 and a beta of 1.66. The stock's 50-day moving average is $586.91 and its two-hundred day moving average is $635.23. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13.

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.