Employees Retirement System of Texas Buys 140,822 Shares of HubSpot, Inc. $HUBS

Key Points

• Employees Retirement System of Texas boosted its HubSpot stake by 13,738.7%, buying 140,822 shares to hold 141,847 shares (about 0.27% of the company) worth roughly $66.36 million.
• HubSpot beat expectations in the latest quarter with EPS $3.09 vs. $2.99 consensus and revenue of $846.75M (up 20.4% year-over-year) versus $830.65M expected.
• Several analysts have cut price targets (examples: Stifel to $500, Mizuho to $300, Oppenheimer to $350), though the consensus remains a "Moderate Buy" with an average price target of $454.20.

Employees Retirement System of Texas increased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 13,738.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 141,847 shares of the software maker's stock after buying an additional 140,822 shares during the period. Employees Retirement System of Texas owned 0.27% of HubSpot worth $66,356,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in HUBS. Fifth Third Bancorp grew its stake in HubSpot by 2.5% in the 3rd quarter. Fifth Third Bancorp now owns 1,076 shares of the software maker's stock worth $503,000 after acquiring an additional 26 shares in the last quarter. Insigneo Advisory Services LLC raised its stake in shares of HubSpot by 6.3% during the second quarter. Insigneo Advisory Services LLC now owns 470 shares of the software maker's stock valued at $262,000 after acquiring an additional 28 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of HubSpot by 5.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 522 shares of the software maker's stock valued at $244,000 after purchasing an additional 28 shares during the period. Bessemer Group Inc. grew its stake in HubSpot by 9.1% in the third quarter. Bessemer Group Inc. now owns 335 shares of the software maker's stock worth $156,000 after purchasing an additional 28 shares in the last quarter. Finally, Asset Dedication LLC grew its stake in HubSpot by 27.1% in the second quarter. Asset Dedication LLC now owns 136 shares of the software maker's stock worth $76,000 after purchasing an additional 29 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

HUBS has been the topic of several research reports. Stifel Nicolaus reduced their price objective on HubSpot from $550.00 to $500.00 and set a "buy" rating on the stock in a report on Friday, January 23rd. Mizuho dropped their price target on HubSpot from $550.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, February 12th. Weiss Ratings restated a "sell (e+)" rating on shares of HubSpot in a research note on Friday, January 9th. Oppenheimer decreased their price objective on HubSpot from $550.00 to $350.00 and set an "outperform" rating for the company in a report on Wednesday, February 4th. Finally, BTIG Research lowered their price objective on shares of HubSpot from $500.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $454.20.

HubSpot Stock Down 0.6%

NYSE:HUBS opened at $257.56 on Friday. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 296.05, a PEG ratio of 3.86 and a beta of 1.40. HubSpot, Inc. has a 52 week low of $207.20 and a 52 week high of $682.57. The firm has a 50 day moving average of $287.85 and a 200 day moving average of $384.65.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.99 by $0.10. The business had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The business's revenue for the quarter was up 20.4% on a year-over-year basis. During the same period in the previous year, the company earned $2.32 earnings per share. As a group, analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Insider Buying and Selling at HubSpot

In related news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the transaction, the director directly owned 487,344 shares in the company, valued at $147,850,422.72. The trade was a 1.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Erika Ashley Fisher sold 841 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the sale, the insider owned 10,119 shares of the company's stock, valued at approximately $2,408,423.19. This trade represents a 7.67% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 26,691 shares of company stock worth $8,136,702. 4.00% of the stock is owned by company insiders.

HubSpot Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company's product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.

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