Zevenbergen Capital Investments LLC Sells 1,555 Shares of HubSpot, Inc. $HUBS

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 trimmed its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,910 shares of the software maker's stock after selling 1,555 shares during the period. Zevenbergen Capital Investments LLC owned about 0.08% of HubSpot worth $22,215,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Private Trust Co. NA grew its position in HubSpot by 481.5% in the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after purchasing an additional 130 shares in the last quarter. Principal Financial Group Inc. grew its position in HubSpot by 4.6% in the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after purchasing an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC grew its position in HubSpot by 1,840.0% in the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after purchasing an additional 92 shares in the last quarter. Oppenheimer & Co. Inc. bought a new position in HubSpot in the first quarter valued at $235,000. Finally, Strs Ohio bought a new position in HubSpot in the first quarter valued at $10,569,000. Institutional investors own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on HUBS. Wells Fargo & Company lifted their price objective on shares of HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Piper Sandler began coverage on shares of HubSpot in a research report on Thursday, September 4th. They issued an "overweight" rating and a $675.00 price objective for the company. Needham & Company LLC reissued a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a research report on Thursday, September 4th. KeyCorp decreased their price objective on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, UBS Group reissued an "outperform" rating on shares of HubSpot in a research report on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $722.93.

Insider Activity at HubSpot

In related news, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction that occurred on 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 transaction, the chief financial officer directly owned 41,086 shares in the company, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 51,094 shares of company stock valued at $25,716,404 in the last quarter. 4.00% of the stock is owned by company insiders.

HubSpot Stock Up 0.8%

Shares of NYSE:HUBS traded up $4.13 during midday trading on Friday, hitting $517.25. The stock had a trading volume of 163,486 shares, compared to its average volume of 736,936. The company's 50-day moving average price is $494.25 and its 200-day moving average price is $555.12. The company has a market capitalization of $27.25 billion, a P/E ratio of -2,247.37, a price-to-earnings-growth ratio of 17.53 and a beta of 1.58. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week 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 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 EPS. Research analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

HubSpot 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.