Empire Life Investments Inc. Has $12.87 Million Stock Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Empire Life Investments Inc. has increased its stake in HubSpot, Inc. by 58.6%, acquiring an additional 8,323 shares to hold a total of 22,519 shares worth approximately $12.87 million.
• Several institutional investors, including ING Groep NV and Jefferies Financial Group Inc., have also significantly increased their holdings in HubSpot during the same period, reflecting a broader interest in the company's stock.
• HubSpot shares are currently trading at $498.33, having recently experienced a decline of 4.1%, with analysts adjusting price targets to a consensus of approximately $759.04, indicating a mixed outlook on its performance.

Empire Life Investments Inc. raised its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 58.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,519 shares of the software maker's stock after buying an additional 8,323 shares during the quarter. Empire Life Investments Inc.'s holdings in HubSpot were worth $12,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ING Groep NV acquired a new position in HubSpot during the 1st quarter worth approximately $9,312,000. Earned Wealth Advisors LLC raised its position in shares of HubSpot by 23.4% in the 1st quarter. Earned Wealth Advisors LLC now owns 433 shares of the software maker's stock valued at $247,000 after purchasing an additional 82 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its position in shares of HubSpot by 24.5% in the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 6,600 shares of the software maker's stock valued at $3,771,000 after purchasing an additional 1,300 shares in the last quarter. Commerce Bank raised its position in shares of HubSpot by 6.1% in the 1st quarter. Commerce Bank now owns 5,506 shares of the software maker's stock valued at $3,146,000 after purchasing an additional 316 shares in the last quarter. Finally, Jefferies Financial Group Inc. raised its position in shares of HubSpot by 59.2% in the 1st quarter. Jefferies Financial Group Inc. now owns 11,940 shares of the software maker's stock valued at $6,821,000 after purchasing an additional 4,440 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Price Performance

HubSpot stock traded down $1.33 during mid-day trading on Wednesday, hitting $490.83. The company's stock had a trading volume of 1,465,223 shares, compared to its average volume of 765,729. The firm's 50 day moving average is $555.48 and its 200 day moving average is $617.78. The company has a market cap of $25.89 billion, a PE ratio of -1,090.73, a price-to-earnings-growth ratio of 17.90 and a beta of 1.66. HubSpot, Inc. has a 52-week low of $454.25 and a 52-week high of $881.13.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HUBS. Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research report on Friday, May 9th. Mizuho lowered their price target on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Barclays lowered their price target on HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Piper Sandler boosted their price target on HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Finally, Morgan Stanley increased their target price on HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $759.04.

Insider Transactions at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the completion of the sale, the director directly owned 522,435 shares of the company's stock, valued at $283,718,775.45. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 value of $1,314,915.57. Following the sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock valued at $10,928,616 in the last three months. Corporate 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.