Federated Hermes Inc. Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Federated Hermes Inc. increased its stake in HubSpot, Inc. by 15.2%, owning approximately 196,664 shares valued at $112,352,000, following the purchase of an additional 26,001 shares during the first quarter.
• Insider trading activity included CFO Kathryn Bueker selling 615 shares and Director Brian Halligan selling 8,500 shares of HubSpot, leading to a decrease in their ownership stakes.
• Analysts show mixed sentiments on HubSpot, with ratings ranging from "outperform" with a price target of $700.00 to "hold," while the consensus rating is a "Moderate Buy" with a target price of $759.04.

Federated Hermes Inc. raised its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 15.2% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 196,664 shares of the software maker's stock after buying an additional 26,001 shares during the period. Federated Hermes Inc. owned approximately 0.37% of HubSpot worth $112,352,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its position in HubSpot by 481.5% in the 1st quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after buying an additional 130 shares during the period. Principal Financial Group Inc. boosted its position in HubSpot by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after buying an additional 1,276 shares during the period. Golden State Wealth Management LLC lifted its position in shares of HubSpot by 1,840.0% during the 1st quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock worth $55,000 after purchasing an additional 92 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of HubSpot during the 1st quarter worth $235,000. Finally, Amalgamated Bank lifted its position in shares of HubSpot by 6.9% during the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after purchasing an additional 226 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the sale, the director owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the sale, the chief executive officer directly owned 63,918 shares in the company, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 19,998 shares of company stock valued at $10,928,616. Corporate insiders own 4.50% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on HUBS. Truist Financial decreased their price objective on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC reiterated a "buy" rating and set a $900.00 price target on shares of HubSpot in a research note on Friday, May 9th. Jefferies Financial Group cut their price target on shares of HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a research note on Tuesday, April 15th. Raymond James Financial reiterated an "outperform" rating and set a $825.00 price target (down from $980.00) on shares of HubSpot in a research note on Friday, May 9th. Finally, The Goldman Sachs Group cut their price target on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $759.04.

HubSpot Stock Performance

HUBS stock traded down $22.55 during trading on Friday, reaching $497.10. 440,388 shares of the company were exchanged, compared to its average volume of 686,745. The company has a market cap of $26.22 billion, a P/E ratio of -1,106.72, a PEG ratio of 19.58 and a beta of 1.66. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The stock's 50 day moving average price is $562.51 and its 200 day moving average price is $622.76.

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.