Fred Alger Management LLC Acquires 2,726 Shares of HubSpot, Inc. $HUBS

Key Points

• Fred Alger Management LLC increased its holdings in HubSpot, Inc. by 25.4% during the first quarter, acquiring an additional 2,726 shares, bringing its total ownership to 13,451 shares valued at approximately $7.68 million.
• Several institutional investors, including Vanguard Group and Massachusetts Financial Services, have also bolstered their positions in HubSpot during the same period, reflecting a strong interest from the investment community.
• HubSpot recently reported a 19.4% year-over-year revenue growth with earnings per share of $2.19, surpassing analyst expectations of $2.12, alongside a positive return on equity of 1.74%.

Fred Alger Management LLC lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 25.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,451 shares of the software maker's stock after acquiring an additional 2,726 shares during the quarter. Fred Alger Management LLC's holdings in HubSpot were worth $7,684,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Elequin Capital LP acquired a new position in HubSpot in the fourth quarter worth about $27,000. Cullen Frost Bankers Inc. boosted its stake in HubSpot by 130.8% in the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after acquiring an additional 34 shares during the period. N.E.W. Advisory Services LLC acquired a new position in shares of HubSpot during the first quarter worth approximately $35,000. Clean Yield Group acquired a new position in shares of HubSpot during the first quarter worth approximately $41,000. Finally, GW&K Investment Management LLC boosted its position in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock worth $45,000 after buying an additional 53 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Price Performance

NYSE HUBS traded down $3.69 on Friday, hitting $493.10. 446,699 shares of the stock were exchanged, compared to its average volume of 742,683. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The company has a market capitalization of $25.98 billion, a price-to-earnings ratio of -2,143.91, a P/E/G ratio of 16.85 and a beta of 1.58. The company's 50-day moving average price is $499.50 and its two-hundred day moving average price is $562.45.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping 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 firm had revenue of $760.87 million for the quarter, compared to analysts' expectations of $739.94 million. During the same period in the previous year, the company posted $1.94 EPS. The company's quarterly revenue was up 19.4% compared to the same quarter last year. Equities analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the transaction, the chief executive officer directly owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Kathryn Bueker sold 615 shares of the business's stock in a transaction 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 transaction, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 51,094 shares of company stock valued at $26,069,239. Insiders own 4.00% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on HUBS shares. Stifel Nicolaus dropped their target price on HubSpot from $750.00 to $700.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Wall Street Zen raised HubSpot from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Citigroup dropped their target price on HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Macquarie dropped their target price on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Finally, Raymond James Financial dropped their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, HubSpot has a consensus rating of "Moderate Buy" and an average price target of $722.93.

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.