Fulcrum Asset Management LLP Purchases 23,795 Shares of HubSpot, Inc. $HUBS

Key Points

• Fulcrum Asset Management sharply increased its HubSpot stake, buying 23,795 shares in the third quarter to reach 24,431 shares valued at about $4.83 million.
• Analyst views are mostly cautious: the consensus rating is Hold, with a $251.23 average price target; several firms recently cut their targets.
• HubSpot beat quarterly earnings and revenue estimates, reporting $3.81 EPS and $947.57 million in revenue; revenue rose 17.1% year over year.

Fulcrum Asset Management LLP increased its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 3,741.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,431 shares of the software maker's stock after purchasing an additional 23,795 shares during the period. Fulcrum Asset Management LLP's holdings in HubSpot were worth $4,829,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC purchased a new position in shares of HubSpot during the third quarter valued at approximately $511,000. Brighton Jones LLC grew its stake in shares of HubSpot by 69.7% during the third quarter. Brighton Jones LLC now owns 6,770 shares of the software maker's stock valued at $1,388,000 after buying an additional 2,780 shares during the last quarter. Cullinan Associates Inc. bought a new position in shares of HubSpot during the third quarter valued at approximately $266,000. Ethic Inc. raised its holdings in shares of HubSpot by 34.5% in the third quarter. Ethic Inc. now owns 2,475 shares of the software maker's stock worth $507,000 after buying an additional 635 shares during the period. Finally, StoneX Group Inc. purchased a new stake in shares of HubSpot in the third quarter worth approximately $190,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on HUBS. Cantor Fitzgerald lowered HubSpot from a "neutral" rating to an "underweight" rating and decreased their price target for the stock from $265.00 to $170.00 in a research note on Thursday, November 5th. Wells Fargo & Company cut their price objective on HubSpot from $250.00 to $200.00 and set an "equal weight" rating on the stock in a research report on Thursday. Barclays decreased their target price on HubSpot from $240.00 to $222.00 and set an "equal weight" rating for the company in a research report on Thursday, November 5th. Royal Bank Of Canada decreased their target price on HubSpot from $300.00 to $260.00 and set an "outperform" rating for the company in a research report on Thursday, November 5th. Finally, Truist Financial lowered their target price on shares of HubSpot from $275.00 to $230.00 and set a "buy" rating for the company in a research note on Thursday, November 5th. Eight investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $251.23.

HubSpot Stock Performance

Shares of NYSE HUBS opened at $205.86 on Tuesday. HubSpot, Inc. has a 52-week low of $169.63 and a 52-week high of $406.94. The firm has a market capitalization of $10.27 billion, a price-to-earnings ratio of 49.46, a PEG ratio of 2.20 and a beta of 1.14. The stock has a 50 day moving average price of $230.99 and a 200 day moving average price of $229.40.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.81 EPS for the quarter, topping the consensus estimate of $3.27 by $0.54. The company had revenue of $947.57 million for the quarter, compared to the consensus estimate of $925.50 million. HubSpot had a return on equity of 11.73% and a net margin of 5.95%. HubSpot's quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $2.66 EPS. Analysts forecast that HubSpot, Inc. will post 4.69 earnings per share for the current year.

Insider Transactions at HubSpot

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $239.57, for a total transaction of $2,036,345.00. Following the transaction, the director owned 59,500 shares of the company's stock, valued at approximately $14,254,415. This trade represents a 12.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Erika Fisher sold 702 shares of the business's stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $227.72, for a total transaction of $159,859.44. Following the completion of the sale, the insider owned 12,829 shares of the company's stock, valued at approximately $2,921,419.88. This represents a 5.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 26,202 shares of company stock valued at $6,149,894. 3.70% of the stock is owned by insiders.

HubSpot Profile

HubSpot, Inc develops cloud-based customer relationship management software designed to help businesses attract and engage customers, manage sales, and provide customer support. Founded in 2006 by Brian Halligan and Dharmesh Shah, the company helped popularize inbound marketing, an approach focused on drawing customers in with useful content and experiences.

Its platform combines a central CRM with products for marketing, sales, customer service, content management, operations, and commerce.

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