Congress Asset Management Co. Has $876,000 Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Congress Asset Management Co. grew its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 343.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,533 shares of the software maker's stock after purchasing an additional 1,187 shares during the period. Congress Asset Management Co.'s holdings in HubSpot were worth $876,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in HUBS. Legato Capital Management LLC purchased a new stake in HubSpot during the 4th quarter worth about $1,951,000. Northern Trust Corp boosted its holdings in HubSpot by 18.0% in the 4th quarter. Northern Trust Corp now owns 345,535 shares of the software maker's stock valued at $240,758,000 after purchasing an additional 52,792 shares in the last quarter. Empowered Funds LLC raised its position in HubSpot by 3.1% in the fourth quarter. Empowered Funds LLC now owns 833 shares of the software maker's stock worth $580,000 after acquiring an additional 25 shares in the last quarter. Ensign Peak Advisors Inc lifted its stake in shares of HubSpot by 56.9% in the fourth quarter. Ensign Peak Advisors Inc now owns 159,997 shares of the software maker's stock valued at $111,481,000 after purchasing an additional 57,998 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of HubSpot during the 4th quarter worth approximately $32,682,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Mizuho cut their price objective on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. Raymond James reaffirmed an "outperform" rating and set a $825.00 price target (down previously from $980.00) on shares of HubSpot in a research report on Friday, May 9th. BNP Paribas initiated coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 target price for the company. Piper Sandler boosted their price objective on HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a report on Saturday, June 7th. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and an average target price of $766.71.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 2,382 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the completion of the transaction, the chief executive officer now owns 72,373 shares of the company's stock, valued at $41,536,312.16. This trade represents a 3.19% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the completion of the transaction, the insider now directly owns 525,687 shares in the company, valued at $283,135,018.20. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,062 shares of company stock valued at $11,516,757 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

HubSpot Trading Down 0.8%

HUBS traded down $4.53 during trading on Thursday, reaching $569.04. 1,222,050 shares of the company were exchanged, compared to its average volume of 620,016. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The firm has a 50 day moving average of $593.86 and a 200 day moving average of $665.14. The stock has a market cap of $30.01 billion, a P/E ratio of 6,323.37, a PEG ratio of 41.44 and a beta of 1.70.

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.