Forsta AP Fonden Has $7.54 Million Stake in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Forsta AP Fonden increased its stake in HubSpot, Inc. by 28.2% during Q1, owning a total of 13,200 shares valued at approximately $7.54 million.
• HubSpot reported an EPS of $2.19 for the last quarter, surpassing estimates, with revenues reaching $760.87 million, a 19.4% year-over-year increase.
• Analysts have varied target price ratings for HubSpot, with the average price target now at $726.04, reflecting optimism with 27 buy ratings compared to only three hold ratings.

Forsta AP Fonden lifted its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 28.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,200 shares of the software maker's stock after buying an additional 2,900 shares during the quarter. Forsta AP Fonden's holdings in HubSpot were worth $7,541,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Highview Capital Management LLC DE increased its holdings in shares of HubSpot by 4.5% in the fourth quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock valued at $2,098,000 after purchasing an additional 129 shares during the last quarter. Cerity Partners LLC grew its stake in shares of HubSpot by 21.4% in the fourth quarter. Cerity Partners LLC now owns 6,569 shares of the software maker's stock valued at $4,321,000 after buying an additional 1,160 shares in the last quarter. Treasurer of the State of North Carolina boosted its holdings in HubSpot by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 21,487 shares of the software maker's stock valued at $14,971,000 after purchasing an additional 130 shares during the period. Covestor Ltd boosted its holdings in HubSpot by 65.8% in the fourth quarter. Covestor Ltd now owns 194 shares of the software maker's stock valued at $135,000 after purchasing an additional 77 shares during the period. Finally, SageView Advisory Group LLC purchased a new stake in HubSpot during the 4th quarter worth about $334,000. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction that occurred on 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 transaction, the director owned 522,435 shares in the company, valued at approximately $283,718,775.45. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 over the last quarter. 4.00% of the stock is currently owned by company insiders.

HubSpot Stock Performance

Shares of HUBS stock traded up $4.81 during trading hours on Wednesday, hitting $428.59. 121,947 shares of the company were exchanged, compared to its average volume of 725,388. The business's 50-day simple moving average is $540.90 and its two-hundred day simple moving average is $608.20. HubSpot, Inc. has a one year low of $418.34 and a one year high of $881.13. The stock has a market capitalization of $22.58 billion, a price-to-earnings ratio of -1,862.80, a P/E/G ratio of 14.23 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the business earned $1.94 earnings per share. HubSpot's revenue was up 19.4% compared to the same quarter last year. As a group, analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Canaccord Genuity Group cut their target price on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. BMO Capital Markets dropped their target price on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Wells Fargo & Company boosted their price target on HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research note on Friday, May 9th. Finally, Cantor Fitzgerald assumed coverage on HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price target on the stock. Three research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.04.

About HubSpot

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.