Principal Financial Group Inc. Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Principal Financial Group Inc. lifted its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 4.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 28,755 shares of the software maker's stock after acquiring an additional 1,276 shares during the period. Principal Financial Group Inc. owned approximately 0.06% of HubSpot worth $16,427,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA raised 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 acquiring an additional 130 shares during the last quarter. Golden State Wealth Management LLC grew its holdings in HubSpot by 1,840.0% during the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after purchasing an additional 92 shares during the period. Oppenheimer & Co. Inc. acquired a new position in HubSpot during the first quarter valued at approximately $235,000. Amalgamated Bank boosted its holdings in shares of HubSpot by 6.9% in the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after buying an additional 226 shares during the period. Finally, Blue Trust Inc. boosted its holdings in shares of HubSpot by 14.9% in the first quarter. Blue Trust Inc. now owns 693 shares of the software maker's stock valued at $396,000 after buying an additional 90 shares during the period. 90.39% of the stock is owned by institutional investors.

HubSpot Trading Down 5.4%

HUBS traded down $30.01 during trading on Friday, reaching $523.76. 1,233,981 shares of the company's stock were exchanged, compared to its average volume of 614,871. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The stock has a market capitalization of $27.62 billion, a PE ratio of -1,163.91, a price-to-earnings-growth ratio of 20.58 and a beta of 1.66. The firm has a fifty day moving average price of $591.09 and a two-hundred day moving average price of $638.34.

Insider Activity

In related news, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. The trade was a 3.59% 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, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $548.03, for a total transaction of $4,658,255.00. Following the transaction, the director owned 523,984 shares in the company, valued at $287,158,951.52. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,678 shares of company stock valued at $11,298,621. 4.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

HUBS has been the topic of a number of research reports. Needham & Company LLC reissued a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Wells Fargo & Company decreased their price objective on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating for the company in a research report on Monday, June 9th. Truist Financial reduced their target price on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Stephens started coverage on shares of HubSpot in a research note on Wednesday, March 19th. They issued an "overweight" rating and a $769.00 price objective for the company. Finally, Mizuho dropped their price objective on shares of HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. Four analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $766.71.

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.