HubSpot, Inc. $HUBS Position Lessened by Zevenbergen Capital Investments LLC

Key Points

• Zevenbergen Capital Investments LLC has reduced its position in HubSpot, Inc. by 3.8%, now holding 39,910 shares valued at approximately $22.2 million.
• Significant boosts in holdings were observed from other institutions, such as Price T Rowe Associates, increasing its stake by 17% and Massachusetts Financial Services by 37.3% in the recent quarter.
• HubSpot's stock performance remains volatile, with a current price of $493.10, but the company posted a 19.4% year-over-year revenue growth and earnings surpassing analysts' expectations in its latest financial report.

Zevenbergen Capital Investments LLC decreased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,910 shares of the software maker's stock after selling 1,555 shares during the period. Zevenbergen Capital Investments LLC owned 0.08% of HubSpot worth $22,215,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in HUBS. Price T Rowe Associates Inc. MD lifted its holdings in shares of HubSpot by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker's stock worth $2,805,070,000 after purchasing an additional 714,980 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after purchasing an additional 251,853 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of HubSpot by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after purchasing an additional 201,994 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of HubSpot by 80,552.5% in the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock worth $1,018,280,000 after purchasing an additional 178,021 shares during the last quarter. Finally, Nuveen LLC bought a new stake in HubSpot during the 1st quarter valued at $99,963,000. Institutional investors own 90.39% of the company's stock.

Insiders Place Their Bets

In other news, Director Brian Halligan sold 8,500 shares of HubSpot 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 transaction, the director owned 522,435 shares in the company, valued at approximately $235,012,160.40. The trade was a 1.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Dharmesh Shah sold 17,253 shares of HubSpot stock in a transaction on Monday, September 8th. The shares were sold at an average price of $500.66, for a total value of $8,637,886.98. Following the transaction, the chief technology officer owned 1,275,805 shares in the company, valued at $638,744,531.30. This represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,094 shares of company stock worth $26,069,239. 4.00% of the stock is owned by corporate insiders.

HubSpot Stock Performance

Shares of HUBS stock opened at $493.10 on Friday. The stock has a market cap of $25.98 billion, a PE ratio of -2,143.91, a price-to-earnings-growth ratio of 17.12 and a beta of 1.58. The business's fifty day moving average is $498.16 and its 200-day moving average is $559.75. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.07. The business had revenue of $760.87 million for the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.94 EPS. Equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

HUBS has been the topic of several recent analyst reports. Raymond James Financial cut their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Piper Sandler initiated 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. Macquarie cut their target price on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company lifted their target price on HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, UBS Group reaffirmed an "outperform" rating on shares of HubSpot in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, HubSpot currently 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.

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