HubSpot, Inc. $HUBS Shares Purchased by Acadian Asset Management LLC

Key Points

• Acadian Asset Management LLC raised its holdings in HubSpot, Inc. by 15% during Q1, accumulating a total of 5,059 shares valued at approximately $2.89 million.
• Multiple analysts have issued varying price targets for HubSpot, with a consensus price target of $722.93 and a majority of analysts rating the stock as a "buy."
• Insider transactions included significant share sales by CFO Kathryn Bueker and CTO Dharmesh Shah, indicating reduced ownership stakes despite overall strong institutional investment in the company.

Acadian Asset Management LLC increased its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 15.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,059 shares of the software maker's stock after acquiring an additional 660 shares during the quarter. Acadian Asset Management LLC's holdings in HubSpot were worth $2,888,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Private Trust Co. NA boosted its position in shares of HubSpot by 481.5% during the 1st quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after acquiring an additional 130 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of HubSpot by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after acquiring an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC boosted its position in shares of HubSpot by 1,840.0% during the 1st quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after acquiring an additional 92 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new position in shares of HubSpot during the 1st quarter valued at about $235,000. Finally, Amalgamated Bank boosted its position in shares of HubSpot by 6.9% during the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HUBS. Citigroup lowered their price target on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating on the stock in a research report on Friday, August 8th. BMO Capital Markets decreased their target price on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Barclays decreased their target price on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Raymond James Financial decreased their target price 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. Finally, JPMorgan Chase & Co. decreased their target price on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $722.93.

Insider Activity

In related news, CEO Yamini Rangan sold 477 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.00, for a total value of $238,500.00. Following the sale, the chief executive officer owned 62,291 shares of the company's stock, valued at $31,145,500. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 119 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.00, for a total transaction of $59,500.00. Following the completion of the sale, the chief financial officer directly owned 40,563 shares in the company, valued at approximately $20,281,500. This trade represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,094 shares of company stock worth $25,716,404 in the last ninety days. 4.00% of the stock is owned by insiders.

HubSpot Stock Up 1.3%

NYSE:HUBS traded up $6.60 on Thursday, reaching $513.90. 672,070 shares of the company's stock were exchanged, compared to its average volume of 740,328. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of -2,234.35, a price-to-earnings-growth ratio of 17.37 and a beta of 1.58. The business has a fifty day moving average of $495.05 and a 200-day moving average of $556.45. 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 issued its quarterly 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. 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 for 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 revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current 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.