HubSpot, Inc. $HUBS Stake Lowered by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. has reduced its stake in HubSpot, Inc. by 26.4%, now owning 42,002 shares worth around $23.37 million.
• Several other institutional investors, including Private Trust Co. NA and Moody Lynn & Lieberson LLC, have significantly increased their holdings in HubSpot, indicating heightened interest from hedge funds.
• Analyst reports have lowered HubSpot's price targets, with BMO Capital Markets setting a new objective of $550.00, although the overall consensus remains a "Moderate Buy."

Asset Management One Co. Ltd. reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 26.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,002 shares of the software maker's stock after selling 15,093 shares during the period. Asset Management One Co. Ltd. owned 0.08% of HubSpot worth $23,373,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Private Trust Co. NA grew its holdings 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 in the last quarter. Moody Lynn & Lieberson LLC grew its holdings in shares of HubSpot by 2,038.1% during the 2nd quarter. Moody Lynn & Lieberson LLC now owns 20,953 shares of the software maker's stock valued at $11,663,000 after acquiring an additional 19,973 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of HubSpot by 15.0% during the 1st quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker's stock valued at $2,888,000 after acquiring an additional 660 shares in the last quarter. Nordea Investment Management AB grew its holdings in shares of HubSpot by 74.4% during the 2nd quarter. Nordea Investment Management AB now owns 16,043 shares of the software maker's stock valued at $8,921,000 after acquiring an additional 6,846 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings 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 in the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets decreased their price objective on shares of HubSpot from $600.00 to $550.00 and set an "outperform" rating for the company in a report on Friday. Barclays decreased their price objective on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, July 21st. KeyCorp decreased their price objective on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. decreased their price objective on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Finally, Raymond James Financial decreased their price objective on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $717.75.

HubSpot Price Performance

HubSpot stock opened at $469.72 on Friday. The firm has a market cap of $24.75 billion, a price-to-earnings ratio of -2,042.26, a P/E/G ratio of 16.20 and a beta of 1.58. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The firm has a fifty day moving average price of $475.71 and a two-hundred day moving average price of $533.27.

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

Insider Activity

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on 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. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $500.00, for a total transaction of $307,500.00. Following the transaction, the chief financial officer directly owned 38,794 shares of the company's stock, valued at $19,397,000. This represents a 1.56% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,863 shares of company stock worth $24,641,332 in the last 90 days. Insiders own 4.00% of the company's stock.

About HubSpot

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.

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