HubSpot, Inc. $HUBS Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in HubSpot, Inc. by 2.7% to 278,607 shares, worth approximately $159.17 million.
• Director Brian Halligan sold 8,500 shares of HubSpot stock, diminishing his ownership by 1.60%.
• HubSpot reported a 19.4% increase in revenue year-over-year, with earnings per share of $2.19, surpassing analysts' expectations.

Alliancebernstein L.P. lowered its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 2.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 278,607 shares of the software maker's stock after selling 7,720 shares during the quarter. Alliancebernstein L.P. owned 0.53% of HubSpot worth $159,165,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of HUBS. Elequin Capital LP acquired a new stake in HubSpot in the fourth quarter valued at $27,000. Cullen Frost Bankers Inc. lifted its holdings in HubSpot by 130.8% in the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after acquiring an additional 34 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of HubSpot in the first quarter valued at $35,000. Colonial Trust Co SC increased its position in shares of HubSpot by 111.1% in the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock valued at $40,000 after buying an additional 30 shares in the last quarter. Finally, Clean Yield Group purchased a new position in shares of HubSpot in the first quarter valued at $41,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of the company's 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 transaction, the director owned 522,435 shares of the company's stock, valued at $235,012,160.40. This represents a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock valued at $14,752,256 in the last 90 days. 4.00% of the stock is currently owned by insiders.

HubSpot Stock Performance

HUBS stock traded down $9.58 during trading on Wednesday, hitting $492.72. The stock had a trading volume of 284,318 shares, compared to its average volume of 742,063. The company's 50 day moving average price is $501.87 and its two-hundred day moving average price is $564.53. HubSpot, Inc. has a 1-year low of $418.34 and a 1-year high of $881.13. The stock has a market cap of $25.96 billion, a price-to-earnings ratio of -2,140.34, a price-to-earnings-growth ratio of 17.17 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.12 by $0.07. The firm had revenue of $760.87 million during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.94 EPS. As a group, sell-side analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Ratings Changes

HUBS has been the subject of a number of research analyst reports. Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Citigroup dropped their price target on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Piper Sandler initiated coverage on HubSpot in a research report on Thursday, September 4th. They issued an "overweight" rating and a $675.00 price target for the company. Macquarie dropped their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Finally, Wells Fargo & Company raised their price target on HubSpot from $675.00 to $680.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and an average price target of $722.93.

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.