HubSpot, Inc. $HUBS Position Raised by TD Asset Management Inc

Key Points

• TD Asset Management Inc has raised its stake in HubSpot by 11% during the second quarter, now owning 64,337 shares valued at approximately $35.8 million.
• Analysts have recently downgraded HubSpot's price targets, with Barclays and Raymond James Financial cutting their price objectives to $675 and $655, respectively.
• HubSpot shares opened at $433.37, having a 12-month low of $418.34 and high of $881.13, with an earnings report showing a positive revenue increase of 19.4% year-over-year.

TD Asset Management Inc raised its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 11.0% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 64,337 shares of the software maker's stock after buying an additional 6,361 shares during the quarter. TD Asset Management Inc owned approximately 0.12% of HubSpot worth $35,812,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of HUBS. Hilltop National Bank bought a new stake in HubSpot in the 2nd quarter valued at about $32,000. Cullen Frost Bankers Inc. raised its holdings in shares of 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 during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of HubSpot during the first quarter valued at approximately $35,000. GW&K Investment Management LLC raised its stake in HubSpot by 203.8% during the 1st quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock valued at $45,000 after acquiring an additional 53 shares in the last quarter. Finally, S Bank Fund Management Ltd bought a new stake in HubSpot during the 1st quarter valued at $46,000. 90.39% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on HUBS. Barclays cut their price objective on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research note on Monday, July 21st. Raymond James Financial dropped their price target on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Piper Sandler assumed coverage on shares of HubSpot in a research report on Thursday, September 4th. They set an "overweight" rating and a $675.00 price target on the stock. Weiss Ratings reissued a "sell (e+)" rating on shares of HubSpot in a report on Tuesday. Finally, BMO Capital Markets dropped their target price on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $723.11.

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, September 16th. The shares were sold at an average price of $506.52, for a total transaction of $4,305,420.00. Following the sale, the director directly owned 522,185 shares of the company's stock, valued at $264,497,146.20. The trade was a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Yamini Rangan sold 2,387 shares of the company's stock in a transaction on Monday, October 6th. The shares were sold at an average price of $500.00, for a total value of $1,193,500.00. Following the transaction, the chief executive officer directly owned 56,277 shares in the company, valued at $28,138,500. The trade was a 4.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,598 shares of company stock valued at $20,947,042 in the last 90 days. Company insiders own 4.00% of the company's stock.

HubSpot Stock Down 2.7%

Shares of NYSE HUBS opened at $433.37 on Friday. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The company has a market cap of $22.83 billion, a price-to-earnings ratio of -1,884.22, a P/E/G ratio of 15.36 and a beta of 1.58. The business has a fifty day simple moving average of $472.04 and a 200-day simple moving average of $535.70.

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

About HubSpot

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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