HubSpot, Inc. $HUBS Shares Acquired by Nordea Investment Management AB

Key Points

• Nordea Investment Management AB increased its stake in HubSpot, Inc. by 74.4%, owning 16,043 shares valued at approximately $8.92 million at the end of the last reporting period.
• HubSpot reported a 19.4% increase in revenue year-over-year for the most recent quarter, posting earnings of $2.19 per share, beating analysts' estimates.
• Insiders, including CEO Yamini Rangan, sold shares accumulating to over $1.19 million, reflecting a strategy of profit-taking amidst a market with a consensus "Moderate Buy" rating.

Nordea Investment Management AB lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 74.4% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 16,043 shares of the software maker's stock after acquiring an additional 6,846 shares during the period. Nordea Investment Management AB's holdings in HubSpot were worth $8,921,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBS. Hilltop National Bank acquired a new stake in shares of HubSpot during the 2nd quarter worth about $32,000. Cullen Frost Bankers Inc. raised its position in shares of HubSpot by 130.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after acquiring an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new stake in shares of HubSpot during the 1st quarter worth about $35,000. GW&K Investment Management LLC raised its position in shares of HubSpot by 203.8% during the 1st quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock worth $45,000 after acquiring an additional 53 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new position in HubSpot during the first quarter worth approximately $46,000. Institutional investors and hedge funds own 90.39% of the company's stock.

HubSpot Trading Up 3.5%

NYSE:HUBS opened at $452.08 on Tuesday. The firm has a market cap of $23.82 billion, a P/E ratio of -1,965.55, a PEG ratio of 15.07 and a beta of 1.58. The stock's 50 day simple moving average is $472.44 and its 200-day simple moving average is $534.02. HubSpot, Inc. has a 12-month low of $418.34 and a 12-month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. The business had revenue of $760.87 million for the quarter, compared to analyst estimates 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 revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.94 earnings per share. Research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, 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 transaction of $1,193,500.00. Following the transaction, the chief executive officer directly owned 56,277 shares of the company's stock, valued at $28,138,500. This represents a 4.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction on Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $307,500.00. Following the transaction, the chief financial officer directly owned 38,794 shares in the company, valued at approximately $19,397,000. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,598 shares of company stock worth $20,947,042. 4.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler assumed coverage on HubSpot in a research note on Thursday, September 4th. They issued an "overweight" rating and a $675.00 price objective for the company. Citigroup reduced their price objective on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research note on Friday, August 8th. Stifel Nicolaus reduced their price objective on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research note on Monday, July 14th. Macquarie reduced their price objective on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Finally, UBS Group reiterated an "outperform" rating on shares of HubSpot in a research note on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $723.11.

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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