Chicago Partners Investment Group LLC Cuts Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Chicago Partners Investment Group LLC reduced its holdings in HubSpot, Inc. by 37.9% during the first quarter, now owning 1,239 shares valued at approximately $708,000.
• Insider trading activity includes Director Brian Halligan selling 8,500 shares for over $4.6 million, decreasing his stake by 1.60%.
• Wall Street analysts maintain a consensus rating of "Moderate Buy" for HubSpot, with the average target price set at $726.04, reflecting confidence in the company’s growth potential.

Chicago Partners Investment Group LLC lowered its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 37.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,239 shares of the software maker's stock after selling 756 shares during the quarter. Chicago Partners Investment Group LLC's holdings in HubSpot were worth $708,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Highview Capital Management LLC DE raised its holdings in shares of 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 purchasing an additional 129 shares during the period. Cerity Partners LLC raised its stake in shares of HubSpot by 21.4% during the fourth quarter. Cerity Partners LLC now owns 6,569 shares of the software maker's stock valued at $4,321,000 after acquiring an additional 1,160 shares during the last quarter. Treasurer of the State of North Carolina raised its stake in HubSpot by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 21,487 shares of the software maker's stock worth $14,971,000 after buying an additional 130 shares during the last quarter. Covestor Ltd grew its holdings in HubSpot by 65.8% in the fourth quarter. Covestor Ltd now owns 194 shares of the software maker's stock worth $135,000 after purchasing an additional 77 shares during the period. Finally, SageView Advisory Group LLC acquired a new position in shares of HubSpot during the fourth quarter valued at about $334,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Buying and Selling at HubSpot

In related news, 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 transaction of $339,350.85. Following the completion of the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. The trade was a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot 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 completion of the transaction, the chief executive officer directly owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,998 shares of company stock valued at $10,928,616 in the last three months. 4.00% of the stock is owned by corporate insiders.

HubSpot Price Performance

NYSE:HUBS traded up $2.30 during midday trading on Tuesday, hitting $423.09. The company's stock had a trading volume of 1,610,575 shares, compared to its average volume of 952,413. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The firm's 50 day moving average is $540.90 and its 200-day moving average is $608.20. The firm has a market cap of $22.29 billion, a P/E ratio of -1,839.52, a P/E/G ratio of 14.23 and a beta of 1.66.

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 positive return on equity of 1.74% and a negative net margin of 0.42%. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the firm posted $1.94 EPS. The firm's revenue for the quarter was up 19.4% on a year-over-year basis. As a group, analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

HUBS has been the topic of several research reports. Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a research report on Saturday. Macquarie dropped their target price on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Citigroup reduced their price target on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Finally, Needham & Company LLC restated a "buy" rating and issued a $900.00 price target on shares of HubSpot in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, HubSpot currently has a consensus rating of "Moderate Buy" and an average price target 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.