HubSpot, Inc. $HUBS Shares Sold by Cinctive Capital Management LP

Key Points

• Cinctive Capital Management LP sold 15,542 shares of HubSpot, reducing its holdings by 83.7% to 3,026 shares, valued at $1,729,000, according to its Form 13F filing.
• Analysts have varied outlooks on HubSpot, with Citigroup lowering its target price from $700 to $650 while Oppenheimer increased theirs from $700 to $750, reflecting a consensus rating of "Moderate Buy".
• Insider transactions indicated a decrease in ownership, with CFO Kathryn Bueker and Director Brian Halligan selling shares, totaling over $4 million in value in recent transactions.

Cinctive Capital Management LP lowered its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 83.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,026 shares of the software maker's stock after selling 15,542 shares during the period. Cinctive Capital Management LP's holdings in HubSpot were worth $1,729,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of HUBS. Elequin Capital LP bought a new stake in shares of HubSpot in the 4th quarter worth approximately $27,000. Cullen Frost Bankers Inc. grew its position 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 during the period. N.E.W. Advisory Services LLC bought a new position in HubSpot in the 1st quarter worth about $35,000. Colonial Trust Co SC lifted 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 purchasing an additional 30 shares during the period. Finally, Clean Yield Group purchased a new stake in HubSpot in the 1st quarter worth approximately $41,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, CEO Yamini Rangan sold 2,383 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 $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,498 shares of company stock valued at $14,752,256. Company insiders own 4.00% of the company's stock.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of analyst reports. Canaccord Genuity Group lowered their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Piper Sandler began coverage on HubSpot in a research report on Thursday, September 4th. They set an "overweight" rating and a $675.00 target price for the company. UBS Group restated an "outperform" rating on shares of HubSpot in a report on Wednesday, September 3rd. KeyCorp dropped their target price on HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Finally, Macquarie reduced their price objective on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $722.93.

HubSpot Stock Down 2.1%

NYSE HUBS traded down $10.38 during trading on Wednesday, hitting $491.92. The stock had a trading volume of 308,880 shares, compared to its average volume of 742,308. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13. The company has a market capitalization of $25.92 billion, a PE ratio of -2,139.00, a PEG ratio of 17.17 and a beta of 1.58. The firm has a 50 day moving average price of $501.87 and a 200 day moving average price of $564.53.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, topping the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The firm's revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. On average, sell-side analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current year.

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.