Connective Capital Management LLC Buys New Position in HubSpot, Inc. (NYSE:HUBS)

Connective Capital Management LLC purchased a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor purchased 2,288 shares of the software maker's stock, valued at approximately $1,594,000. HubSpot makes up about 1.9% of Connective Capital Management LLC's investment portfolio, making the stock its 17th largest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. Merit Financial Group LLC acquired a new position in HubSpot during the 4th quarter worth approximately $603,000. MassMutual Private Wealth & Trust FSB raised its stake in shares of HubSpot by 73.1% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker's stock valued at $31,000 after purchasing an additional 19 shares during the period. Ballentine Partners LLC raised its stake in shares of HubSpot by 4.6% during the fourth quarter. Ballentine Partners LLC now owns 564 shares of the software maker's stock valued at $393,000 after purchasing an additional 25 shares during the period. Sheets Smith Wealth Management acquired a new position in shares of HubSpot during the fourth quarter worth $434,000. Finally, Mutual Advisors LLC acquired a new position in shares of HubSpot during the fourth quarter worth $206,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HUBS shares. The Goldman Sachs Group lowered their price target on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating for the company in a report on Friday, May 9th. KeyCorp raised shares of HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price objective for the company in a research report on Thursday, February 13th. Truist Financial dropped their target price on HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. BNP Paribas began coverage on HubSpot in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 price target on the stock. Finally, Wells Fargo & Company reduced their price target on HubSpot from $940.00 to $700.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, HubSpot currently has an average rating of "Moderate Buy" and a consensus price target of $767.33.

HubSpot Stock Performance

Shares of HubSpot stock traded down $13.02 during trading hours on Friday, reaching $614.79. The company's stock had a trading volume of 432,204 shares, compared to its average volume of 622,781. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The company's 50 day simple moving average is $590.58 and its 200 day simple moving average is $672.61. The stock has a market cap of $32.42 billion, a P/E ratio of 6,831.70, a price-to-earnings-growth ratio of 41.44 and a beta of 1.78.

Insider Activity at HubSpot

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total value of $4,578,100.00. Following the sale, the insider now directly owns 525,687 shares of the company's stock, valued at $283,135,018.20. This trade represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 680 shares of the firm's stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $600.00, for a total value of $408,000.00. Following the completion of the sale, the chief executive officer now owns 71,693 shares in the company, valued at $43,015,800. The trade was a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,062 shares of company stock valued at $11,516,757 in the last quarter. Insiders own 4.50% of the company's stock.

HubSpot 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.