HubSpot, Inc. $HUBS Position Lessened by Praxis Investment Management Inc.

Key Points

• Praxis Investment Management Inc. reduced its stake in HubSpot, Inc. by 45.2%, holding 970 shares worth $540,000 at the end of the last reporting period.
• HubSpot's recent quarterly earnings showed an EPS of $2.19, exceeding estimates, with a 19.4% increase in year-over-year revenue.
• Analysts have mixed opinions on HubSpot, with target price cuts by various firms, leading to an average target of $723.11 and a consensus rating of "Moderate Buy."

Praxis Investment Management Inc. decreased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 45.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 970 shares of the software maker's stock after selling 800 shares during the period. Praxis Investment Management Inc.'s holdings in HubSpot were worth $540,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HUBS. Farther Finance Advisors LLC lifted its holdings in shares of HubSpot by 25.1% in the 1st quarter. Farther Finance Advisors LLC now owns 319 shares of the software maker's stock worth $186,000 after purchasing an additional 64 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of HubSpot by 3.0% in the 1st quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock worth $378,000 after purchasing an additional 19 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of HubSpot by 41.2% in the 1st quarter. GAMMA Investing LLC now owns 312 shares of the software maker's stock worth $178,000 after purchasing an additional 91 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in HubSpot by 35.4% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 6,293 shares of the software maker's stock valued at $3,596,000 after acquiring an additional 1,646 shares in the last quarter. Finally, Sowell Financial Services LLC bought a new stake in HubSpot during the 1st quarter valued at $226,000. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

Shares of HUBS stock opened at $437.15 on Friday. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The stock has a market cap of $23.03 billion, a PE ratio of -1,900.67, a price-to-earnings-growth ratio of 14.92 and a beta of 1.58. The business's fifty day moving average is $471.80 and its 200-day moving average is $534.70.

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

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Canaccord Genuity Group cut their target price on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Truist Financial cut their target price on HubSpot from $720.00 to $675.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of HubSpot in a research note on Tuesday. BMO Capital Markets cut their target price on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, Piper Sandler assumed coverage on HubSpot in a research note on Thursday, September 4th. They set an "overweight" rating and a $675.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of "Moderate Buy" and an average target price of $723.11.

Insider Transactions at HubSpot

In related news, CTO Dharmesh Shah sold 17,253 shares of HubSpot stock in a transaction on Monday, September 8th. The stock was sold at an average price of $500.66, for a total value of $8,637,886.98. Following the transaction, the chief technology officer directly owned 1,275,805 shares in the company, valued at $638,744,531.30. The trade was a 1.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $307,500.00. Following the completion of the transaction, the chief financial officer owned 38,794 shares in the company, valued at $19,397,000. The trade was a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,598 shares of company stock valued at $20,947,042 in the last quarter. Company insiders own 4.00% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.