Ieq Capital LLC Grows Position in HubSpot, Inc. $HUBS

Key Points

• Ieq Capital LLC increased its stake in HubSpot, Inc. by 75.7% in the first quarter, bringing its total holdings to 16,621 shares valued at approximately $9.5 million.
• HubSpot reported a $2.19 EPS for the last quarter, exceeding expectations, with year-over-year revenue growth of 19.4%.
• Research analysts have adjusted their price targets for HubSpot, with Citigroup reducing its target from $700 to $650, while Needham & Company reiterated a buy rating and set a target of $900.

Ieq Capital LLC grew its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 75.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,621 shares of the software maker's stock after acquiring an additional 7,162 shares during the period. Ieq Capital LLC's holdings in HubSpot were worth $9,496,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HUBS. Private Trust Co. NA increased its stake in shares of HubSpot by 481.5% during the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock worth $90,000 after purchasing an additional 130 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of HubSpot by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after buying an additional 1,276 shares during the period. Golden State Wealth Management LLC grew its stake in shares of HubSpot by 1,840.0% in the 1st quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after buying an additional 92 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of HubSpot in the 1st quarter valued at approximately $235,000. Finally, Amalgamated Bank grew its stake in shares of HubSpot by 6.9% in the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after buying an additional 226 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Transactions at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the completion of the sale, the director directly owned 522,435 shares in the company, valued at $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 is available through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock worth $14,752,256 over the last ninety days. 4.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

HUBS has been the topic of several recent analyst reports. Needham & Company LLC restated a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. Raymond James Financial reduced their target price on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Citigroup reduced their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a report on Friday, August 8th. Macquarie dropped their target price on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Finally, Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $726.04.

HubSpot Stock Up 1.4%

Shares of NYSE HUBS traded up $6.77 during midday trading on Friday, hitting $483.11. The company had a trading volume of 817,566 shares, compared to its average volume of 1,095,732. The firm has a market capitalization of $25.46 billion, a price-to-earnings ratio of -2,100.46, a price-to-earnings-growth ratio of 16.65 and a beta of 1.66. The business has a 50-day simple moving average of $511.25 and a two-hundred day simple moving average of $579.19. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last announced 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 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 firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.94 earnings per share. On average, equities analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

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.