Fortis Group Advisors LLC Reduces Stock Position in HubSpot, Inc. (NYSE:HUBS)

Fortis Group Advisors LLC lessened its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 65.9% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 463 shares of the software maker's stock after selling 896 shares during the quarter. Fortis Group Advisors LLC's holdings in HubSpot were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Farther Finance Advisors LLC grew its stake in shares of HubSpot by 5.4% in the fourth quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker's stock worth $178,000 after purchasing an additional 13 shares during the last quarter. Wedbush Securities Inc. grew its stake in shares of HubSpot by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 393 shares of the software maker's stock worth $274,000 after purchasing an additional 13 shares during the last quarter. Summit Global Investments grew its stake in shares of HubSpot by 1.4% in the fourth quarter. Summit Global Investments now owns 1,275 shares of the software maker's stock worth $889,000 after purchasing an additional 17 shares during the last quarter. WCM Investment Management LLC grew its stake in shares of HubSpot by 0.6% in the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker's stock worth $1,553,000 after purchasing an additional 17 shares during the last quarter. Finally, Yousif Capital Management LLC grew its stake in shares of HubSpot by 3.0% in the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock worth $378,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their target price on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Truist Financial dropped their target price on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. BMO Capital Markets dropped their target price on shares of HubSpot from $735.00 to $650.00 and set an "outperform" rating on the stock in a report on Friday. BNP Paribas started coverage on shares of HubSpot in a report on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 price objective on the stock. Finally, 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. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $761.54.

HubSpot Price Performance

Shares of HubSpot stock traded up $13.65 on Friday, reaching $542.25. 676,103 shares of the company traded hands, compared to its average volume of 606,815. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The company has a 50 day moving average of $582.17 and a 200 day moving average of $633.40. The firm has a market capitalization of $28.60 billion, a PE ratio of -1,205.00, a PEG ratio of 19.65 and a beta of 1.66.

Insider Activity

In other news, CFO Kathryn Bueker sold 615 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the completion of the transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction that occurred on 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 in the company, valued at $283,718,775.45. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock valued at $11,336,616 in the last three months. Company 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.