HubSpot, Inc. $HUBS Shares Sold by Concentric Capital Strategies LP

Key Points

• Concentric Capital Strategies LP has significantly reduced its stake in HubSpot, Inc. by 78.8%, now holding 3,197 shares valued at $1.83 million after selling 11,916 shares in the first quarter.
• Insider trading activity revealed that Director Brian Halligan sold 8,500 shares for approximately $3.82 million, while CEO Yamini Rangan also sold shares valued at around $1.31 million.
• Multiple analysts have shifted their ratings on HubSpot shares, with a consensus rating of "Moderate Buy" and a raised price target of $722.93, reflecting optimism about the company's growth.

Concentric Capital Strategies LP reduced its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 78.8% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,197 shares of the software maker's stock after selling 11,916 shares during the quarter. Concentric Capital Strategies LP's holdings in HubSpot were worth $1,826,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Curi RMB Capital LLC increased its holdings in HubSpot by 4.5% during the 1st quarter. Curi RMB Capital LLC now owns 7,648 shares of the software maker's stock worth $4,369,000 after purchasing an additional 327 shares during the period. Banque Transatlantique SA purchased a new position in shares of HubSpot in the 1st quarter valued at $47,000. AQR Capital Management LLC increased its holdings in shares of HubSpot by 64.2% in the 1st quarter. AQR Capital Management LLC now owns 341,957 shares of the software maker's stock valued at $191,431,000 after acquiring an additional 133,720 shares during the period. Alyeska Investment Group L.P. purchased a new position in shares of HubSpot in the 1st quarter valued at $64,928,000. Finally, Unisphere Establishment purchased a new position in shares of HubSpot in the 1st quarter valued at $7,655,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on HUBS. Stifel Nicolaus cut their price target on HubSpot from $750.00 to $700.00 and set a "buy" rating on the stock in a report on Monday, July 14th. Macquarie cut their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. Raymond James Financial cut their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. UBS Group reiterated an "outperform" rating on shares of HubSpot in a report on Wednesday, September 3rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $900.00 price target on shares of HubSpot in a report on Thursday, September 4th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $722.93.

HubSpot Price Performance

HUBS traded up $4.49 on Tuesday, reaching $503.02. 459,080 shares of the stock were exchanged, compared to its average volume of 742,103. The company's 50-day moving average price is $502.97 and its 200 day moving average price is $564.96. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The firm has a market capitalization of $26.51 billion, a PE ratio of -2,187.52, a PEG ratio of 16.80 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, topping analysts' consensus estimates of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. During the same quarter in the previous year, the firm posted $1.94 EPS. The firm's revenue was up 19.4% compared to the same quarter last year. As a group, equities analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 2,383 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 $1,314,915.57. Following the completion of the sale, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the sale, the director directly owned 522,435 shares of the company's stock, valued at approximately $235,012,160.40. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,498 shares of company stock valued at $14,752,256. 4.00% of the stock is owned by company insiders.

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.