Harvest Fund Management Co. Ltd Sells 1,313 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in HubSpot, Inc. by 70.4% to only 551 shares after selling 1,313 shares in the first quarter, valuing its holdings at approximately $314,000.
• In the last ninety days, company insiders sold 19,998 shares of HubSpot stock, totaling over $10.9 million, representing a 1.60% decrease in the position of Director Brian Halligan.
• HubSpot's stock price was recently noted at $538.99, with analysts setting a consensus price target of $759.04 following various upgrades and downgrades from brokerages.

Harvest Fund Management Co. Ltd cut its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 70.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 551 shares of the software maker's stock after selling 1,313 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in HubSpot were worth $314,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Elequin Capital LP acquired a new position in HubSpot during the fourth quarter valued at approximately $27,000. Coppell Advisory Solutions LLC lifted its position in HubSpot by 91.7% during the fourth 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 in the last quarter. Aster Capital Management DIFC Ltd lifted its position in HubSpot by 213.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock valued at $33,000 after buying an additional 32 shares in the last quarter. Cullen Frost Bankers Inc. lifted its position in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after buying an additional 34 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new position in HubSpot during the first quarter valued at approximately $35,000. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Stock Performance

Shares of NYSE HUBS traded down $21.32 during midday trading on Friday, hitting $498.33. The company's stock had a trading volume of 679,039 shares, compared to its average volume of 714,794. The firm's fifty day moving average price is $560.18 and its 200-day moving average price is $621.35. The firm has a market cap of $26.28 billion, a P/E ratio of -1,107.40, a P/E/G ratio of 18.90 and a beta of 1.67. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on HUBS shares. The Goldman Sachs Group reduced their price target on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. UBS Group boosted their target price on shares of HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. BNP Paribas started coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 target price on the stock. Barclays reduced their target price on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Finally, Wall Street Zen cut shares of HubSpot from a "buy" rating to a "hold" rating in a research report on Saturday, July 26th. Five research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $759.04.

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated 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 sale, the chief financial officer directly owned 41,086 shares of the company's stock, 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. Over the last quarter, insiders sold 19,998 shares of company stock worth $10,928,616. Insiders own 4.50% of the company's stock.

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.