Granahan Investment Management LLC Sells 2,991 Shares of HubSpot, Inc. $HUBS

Key Points

• Granahan Investment Management LLC sold 2,991 shares of HubSpot, reducing its stake by 8.1%, now owning 34,001 shares valued at approximately $19.4 million.
• Other institutional investors, including Price T Rowe Associates and Massachusetts Financial Services, have increased their stakes in HubSpot significantly, with the latter boosting its position by 37.3%.
• HubSpot reported $2.19 EPS for the last quarter, exceeding analyst estimates, with revenues up 19.4% year-over-year at $760.87 million.

Granahan Investment Management LLC trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,001 shares of the software maker's stock after selling 2,991 shares during the period. Granahan Investment Management LLC owned approximately 0.06% of HubSpot worth $19,424,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Highview Capital Management LLC DE grew its holdings in shares of HubSpot by 4.5% during the fourth quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock worth $2,098,000 after buying an additional 129 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its stake in shares of HubSpot by 28.5% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 2,087 shares of the software maker's stock valued at $1,454,000 after purchasing an additional 463 shares during the period. Captrust Financial Advisors raised its holdings in HubSpot by 41.8% in the fourth quarter. Captrust Financial Advisors now owns 1,933 shares of the software maker's stock valued at $1,347,000 after acquiring an additional 570 shares in the last quarter. Cetera Investment Advisers raised its holdings in HubSpot by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 4,152 shares of the software maker's stock worth $2,893,000 after purchasing an additional 127 shares in the last quarter. Finally, Colonial Trust Co SC raised its holdings in HubSpot by 111.1% during the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after purchasing an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the sale, the director owned 522,435 shares in the company, valued at $235,012,160.40. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at $22,670,843.94. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,498 shares of company stock worth $14,752,256 in the last 90 days. Insiders own 4.00% of the company's stock.

HubSpot Trading Down 2.1%

NYSE HUBS traded down $10.59 during midday trading on Wednesday, hitting $491.70. The company had a trading volume of 339,271 shares, compared to its average volume of 742,437. The company has a market capitalization of $25.91 billion, a PE ratio of -2,137.83, a P/E/G ratio of 17.17 and a beta of 1.58. The firm has a 50-day moving average price of $501.87 and a 200-day moving average price of $564.53. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13.

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

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Needham & Company LLC reissued a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a research note on Thursday, September 4th. Cantor Fitzgerald assumed coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective for the company. Citigroup lowered their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. UBS Group reiterated an "outperform" rating on shares of HubSpot in a research note on Wednesday, September 3rd. Finally, Barclays reduced their price objective on HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $722.93.

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.