Geneva Capital Management LLC Acquires 3,762 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Geneva Capital Management LLC increased its holdings in HubSpot by 12.2%, now owning 34,611 shares valued at approximately $19.77 million.
• A significant number of other institutional investors also increased their stakes in HubSpot, with Empire Life Investments raising its position by 58.6% in the first quarter.
• HubSpot's stock saw price target adjustments from several analysts, with average price targets now ranging from $675.00 to $900.00, reflecting a consensus of a "Moderate Buy" rating.

Geneva Capital Management LLC boosted its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 12.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,611 shares of the software maker's stock after purchasing an additional 3,762 shares during the quarter. Geneva Capital Management LLC owned about 0.07% of HubSpot worth $19,773,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in HUBS. Elequin Capital LP acquired a new stake in shares of HubSpot in the fourth quarter valued at about $27,000. Coppell Advisory Solutions LLC raised its holdings in shares of HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after buying an additional 22 shares during the period. Aster Capital Management DIFC Ltd increased its position in shares of HubSpot by 213.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after acquiring an additional 32 shares during the period. Cullen Frost Bankers Inc. raised its holdings 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 in the last quarter. Finally, N.E.W. Advisory Services LLC purchased a new position in HubSpot in the first quarter valued at approximately $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Price Performance

Shares of NYSE:HUBS traded down $1.33 during trading on Wednesday, reaching $490.83. 1,465,223 shares of the company's stock traded hands, compared to its average volume of 765,729. The company has a 50 day moving average of $555.48 and a 200-day moving average of $617.78. HubSpot, Inc. has a 12 month low of $454.25 and a 12 month high of $881.13. The stock has a market capitalization of $25.89 billion, a P/E ratio of -1,090.73, a price-to-earnings-growth ratio of 17.90 and a beta of 1.66.

Analyst Ratings Changes

Several brokerages have weighed in on HUBS. Raymond James Financial reiterated an "outperform" rating and issued a $825.00 target price (down from $980.00) on shares of HubSpot in a research note on Friday, May 9th. Stifel Nicolaus reduced their price objective on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a report on Monday, July 14th. Wall Street Zen cut shares of HubSpot from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Scotiabank dropped their price target on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Finally, Truist Financial reduced their price objective on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $759.04.

Insider Activity

In other news, 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 value of $4,616,095.00. Following the completion of the sale, the director directly owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. This represents a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,998 shares of company stock valued at $10,928,616. 4.50% of the stock is currently owned by company insiders.

HubSpot Company 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.