Lansforsakringar Fondforvaltning AB publ Sells 558 Shares of HubSpot, Inc. $HUBS

Key Points

• Lansforsakringar Fondforvaltning AB publ reduced its stake in HubSpot, Inc. by 3.4%, now holding 15,713 shares worth approximately $8.98 million.
• Analyst price targets for HubSpot shares have varied, with reports indicating price cuts from Citigroup and Truist Financial, while Oppenheimer and Morgan Stanley increased their targets, suggesting a consensus price target of $726.04.
• HubSpot reported a 19.4% year-over-year revenue growth for the last quarter, achieving $760.87 million, and exceeding analyst expectations for earnings per share.

Lansforsakringar Fondforvaltning AB publ cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,713 shares of the software maker's stock after selling 558 shares during the period. Lansforsakringar Fondforvaltning AB publ's holdings in HubSpot were worth $8,977,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HUBS. Private Trust Co. NA grew its stake in shares of HubSpot by 481.5% in the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock worth $90,000 after purchasing an additional 130 shares in the last quarter. Principal Financial Group Inc. grew its position in HubSpot by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after buying an additional 1,276 shares in the last quarter. Golden State Wealth Management LLC increased its stake in 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 buying an additional 92 shares during the period. Oppenheimer & Co. Inc. bought a new stake in shares of HubSpot during the 1st quarter worth about $235,000. Finally, Amalgamated Bank lifted its stake in shares of HubSpot by 6.9% in the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after acquiring an additional 226 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. KeyCorp lowered their price objective on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group lowered their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Raymond James Financial decreased their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company boosted their price target on shares of HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Oppenheimer raised their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $726.04.

HubSpot Trading Down 2.5%

NYSE:HUBS traded down $12.08 on Tuesday, hitting $471.09. 628,205 shares of the company's stock traded hands, compared to its average volume of 738,271. The company has a market cap of $24.82 billion, a PE ratio of -2,048.22, a price-to-earnings-growth ratio of 16.65 and a beta of 1.58. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The firm has a 50-day moving average price of $510.20 and a 200-day moving average price of $575.21.

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

Insider Activity

In other news, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction 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 sale, the chief executive officer directly 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 disclosure for this sale can be found here. Insiders have sold a total of 28,498 shares of company stock worth $14,752,256 in the last ninety days. Corporate insiders own 4.00% of the company's stock.

HubSpot Company 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.