Allen Investment Management LLC Grows Stock Position in HubSpot, Inc. (NYSE:HUBS)

Key Points

• Allen Investment Management LLC increased its stake in HubSpot by 19.1%, owning 46,345 shares valued at approximately $26.5 million.
• Insider sales included CFO Kathryn Bueker, who sold 615 shares for around $339,351, and CEO Yamini Rangan, who sold 2,383 shares for approximately $1.31 million.
• HubSpot's stock has faced varied analyst ratings, with price targets ranging from $535 to $900, reflecting diverse investor sentiment about its future performance.

Allen Investment Management LLC boosted its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 19.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 46,345 shares of the software maker's stock after buying an additional 7,424 shares during the period. Allen Investment Management LLC owned approximately 0.09% of HubSpot worth $26,476,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of HUBS. Elequin Capital LP bought a new position in shares of HubSpot in the fourth quarter valued at $27,000. Coppell Advisory Solutions LLC boosted its position in shares of HubSpot by 91.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock valued at $32,000 after acquiring an additional 22 shares during the period. Aster Capital Management DIFC Ltd boosted its position in shares of HubSpot by 213.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock valued at $33,000 after acquiring an additional 32 shares during the period. Cullen Frost Bankers Inc. raised its stake 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 purchasing an additional 34 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp acquired a new position in HubSpot in the fourth quarter valued at about $36,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Trading Down 0.5%

HUBS stock traded down $2.71 during trading on Wednesday, hitting $545.63. 173,995 shares of the company's stock were exchanged, compared to its average volume of 683,572. The business has a 50-day moving average price of $566.27 and a two-hundred day moving average price of $624.60. The stock has a market capitalization of $28.78 billion, a price-to-earnings ratio of -1,217.72, a PEG ratio of 20.32 and a beta of 1.66. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13.

Insider Buying and Selling at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total value of $4,616,095.00. Following the transaction, the director owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction on Wednesday, July 2nd. The stock was 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 in the company, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,998 shares of company stock worth $10,928,616. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on HUBS. Morgan Stanley upped their price objective on HubSpot from $659.00 to $752.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Citigroup upped their target price on shares of HubSpot from $750.00 to $759.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Scotiabank decreased their target price on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Cantor Fitzgerald started coverage on HubSpot in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price objective for the company. Finally, Barclays decreased their price objective on HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, July 21st. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $759.04.

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.