HubSpot, Inc. $HUBS Shares Purchased by Comerica Bank

Key Points

• Comerica Bank increased its holdings in HubSpot, Inc. by 25.7% during the 1st quarter, bringing its total shares to 17,453, valued at approximately $9.97 million.
• HubSpot's stock has received varied ratings from analysts, with Morgan Stanley setting a new price target of $752 while Canaccord Genuity cut theirs to $700, reflecting varying confidence in the company's future performance.
• In its latest earnings report, HubSpot exceeded expectations with $2.19 earnings per share and a 19.4% year-over-year revenue increase, reporting total revenue of $760.87 million.

Comerica Bank lifted its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 25.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,453 shares of the software maker's stock after purchasing an additional 3,567 shares during the quarter. Comerica Bank's holdings in HubSpot were worth $9,971,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in shares of HubSpot by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker's stock worth $861,000 after purchasing an additional 16 shares during the last quarter. WCM Investment Management LLC grew its holdings in HubSpot by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker's stock worth $1,553,000 after acquiring an additional 17 shares during the period. Yousif Capital Management LLC grew its holdings in HubSpot by 3.0% during the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock worth $378,000 after acquiring an additional 19 shares during the period. Ballentine Partners LLC grew its holdings in HubSpot by 3.5% during the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker's stock worth $334,000 after acquiring an additional 20 shares during the period. Finally, Apollon Wealth Management LLC grew its holdings in HubSpot by 5.2% during the first quarter. Apollon Wealth Management LLC now owns 405 shares of the software maker's stock worth $231,000 after acquiring an additional 20 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on HUBS shares. JPMorgan Chase & Co. lowered their target price on HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. Raymond James Financial lowered their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. KeyCorp decreased their price objective on HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Wall Street Zen raised HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research note on Friday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $726.04.

HubSpot Price Performance

NYSE:HUBS traded up $6.77 during mid-day trading on Friday, reaching $483.11. The company's stock had a trading volume of 817,566 shares, compared to its average volume of 1,095,732. The company's fifty day simple moving average is $511.25 and its two-hundred day simple moving average is $579.19. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13. The stock has a market cap of $25.46 billion, a P/E ratio of -2,100.46, a P/E/G ratio of 16.65 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.07. The firm 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 quarterly revenue was up 19.4% on a year-over-year basis. During the same period last year, the company earned $1.94 EPS. Sell-side analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the sale, the chief executive officer directly owned 63,918 shares in the company, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,498 shares of company stock worth $14,752,256 in the last three months. 4.00% of the stock is currently owned by company insiders.

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.