Northern Trust Corp Boosts Stake in HubSpot, Inc. $HUBS

Key Points

• Northern Trust Corp increased its stake in HubSpot by 1.3% during the first quarter, owning approximately 0.66% of the company, valued at $199.95 million.
• Multiple analysts have lowered their price targets for HubSpot, with JPMorgan Chase and Citigroup reducing targets to $675.00 and $650.00 respectively, while the average target price is now $726.04.
• HubSpot's recent quarterly earnings report showed EPS of $2.19, exceeding estimates, with revenue up 19.4% year-over-year at $760.87 million.

Northern Trust Corp grew its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 350,006 shares of the software maker's stock after purchasing an additional 4,471 shares during the period. Northern Trust Corp owned about 0.66% of HubSpot worth $199,955,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its stake in HubSpot by 327.4% during the first quarter. Brooklyn Investment Group now owns 671 shares of the software maker's stock worth $383,000 after purchasing an additional 514 shares during the last quarter. Raymond James Financial Inc. lifted its stake in HubSpot by 9.1% during the first quarter. Raymond James Financial Inc. now owns 245,813 shares of the software maker's stock worth $140,431,000 after purchasing an additional 20,460 shares during the last quarter. Cresset Asset Management LLC lifted its stake in HubSpot by 2.4% during the first quarter. Cresset Asset Management LLC now owns 3,705 shares of the software maker's stock worth $2,117,000 after purchasing an additional 88 shares during the last quarter. Ethic Inc. lifted its stake in HubSpot by 12.8% during the first quarter. Ethic Inc. now owns 4,327 shares of the software maker's stock worth $2,518,000 after purchasing an additional 491 shares during the last quarter. Finally, Aberdeen Group plc lifted its stake in HubSpot by 17.5% during the first quarter. Aberdeen Group plc now owns 32,113 shares of the software maker's stock worth $18,346,000 after purchasing an additional 4,791 shares during the last quarter. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 615 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 $339,350.85. Following the completion of the transaction, the chief financial officer owned 41,086 shares of the company's stock, 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 SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 2,383 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 value of $1,314,915.57. Following the transaction, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,498 shares of company stock valued at $14,752,256 in the last 90 days. Insiders own 4.00% of the company's stock.

HubSpot Price Performance

HUBS traded up $18.2580 during midday trading on Friday, reaching $474.2280. 895,937 shares of the company's stock traded hands, compared to its average volume of 1,080,427. The firm has a fifty day moving average of $518.67 and a two-hundred day moving average of $588.76. The stock has a market capitalization of $24.99 billion, a price-to-earnings ratio of -2,061.86, a P/E/G ratio of 16.34 and a beta of 1.66. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Oppenheimer lifted their price target on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Raymond James Financial dropped their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Cantor Fitzgerald started coverage on HubSpot in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 target price for the company. Morgan Stanley boosted their target price on HubSpot from $659.00 to $752.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Macquarie lowered their target price on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $726.04.

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.