Evolutionary Tree Capital Management LLC Reduces Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Evolutionary Tree Capital Management LLC reduced its stake in HubSpot by 58.8% during the first quarter, retaining only 2,266 shares valued at approximately $1.3 million.
• Institutional investors now hold 90.39% of HubSpot’s stock, with significant increases in stakes reported by several firms, including Massachusetts Financial Services, which raised its stake by 37.3%.
• HubSpot received mixed ratings from analysts, with Wall Street Zen downgrading the stock from "buy" to "hold" and price targets adjusted down by firms like Scotiabank and BMO Capital Markets.

Evolutionary Tree Capital Management LLC lessened its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 58.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,266 shares of the software maker's stock after selling 3,240 shares during the period. HubSpot makes up about 1.5% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 27th largest position. Evolutionary Tree Capital Management LLC's holdings in HubSpot were worth $1,295,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the business. Massachusetts Financial Services Co. MA increased its stake in HubSpot by 37.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after purchasing an additional 251,853 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of HubSpot by 7.7% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 567,465 shares of the software maker's stock valued at $395,393,000 after buying an additional 40,404 shares during the period. Northern Trust Corp grew its holdings in HubSpot by 18.0% during the 4th quarter. Northern Trust Corp now owns 345,535 shares of the software maker's stock worth $240,758,000 after acquiring an additional 52,792 shares in the last quarter. AQR Capital Management LLC lifted its holdings in HubSpot by 19.2% during the fourth quarter. AQR Capital Management LLC now owns 208,237 shares of the software maker's stock worth $145,094,000 after buying an additional 33,566 shares during the period. Finally, Federated Hermes Inc. boosted its position in HubSpot by 15.2% during the 1st quarter. Federated Hermes Inc. now owns 196,664 shares of the software maker's stock valued at $112,352,000 after acquiring an additional 26,001 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the completion of the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of the company'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 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 disclosure for this sale can be found here. In the last quarter, insiders sold 19,998 shares of company stock valued at $10,928,616. Company insiders own 4.50% of the company's stock.

HubSpot Trading Down 0.3%

HUBS traded down $1.33 on Wednesday, hitting $490.83. The company had a trading volume of 1,465,223 shares, compared to its average volume of 765,729. The company's fifty day moving average price is $555.48 and its 200 day moving average price is $617.78. HubSpot, Inc. has a 1 year low of $454.25 and a 1 year high of $881.13. The firm has a market cap of $25.89 billion, a P/E ratio of -1,090.73, a PEG ratio of 17.90 and a beta of 1.66.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HUBS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Barclays dropped their price target on HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Scotiabank dropped their price objective on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Jefferies Financial Group reduced their price objective on HubSpot from $900.00 to $700.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Finally, BNP Paribas assumed coverage on shares of HubSpot in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, HubSpot currently has a consensus rating of "Moderate Buy" and an average target price of $759.04.

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.