Skandinaviska Enskilda Banken AB publ Acquires 10,767 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Skandinaviska Enskilda Banken AB increased its holdings in HubSpot by 64.4% in Q1, owning approximately 27,489 shares worth $15.7 million.
• Insiders at HubSpot sold a total of 19,998 shares worth over $10.9 million in the last three months, indicating potential shifts in insider sentiment.
• HubSpot's stock has received varying ratings from analysts, with the average price target currently set at $759.04 and a consensus rating of "Moderate Buy."

Skandinaviska Enskilda Banken AB publ increased its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 64.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,489 shares of the software maker's stock after buying an additional 10,767 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.05% of HubSpot worth $15,704,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Wedbush Securities Inc. grew its holdings in HubSpot by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 393 shares of the software maker's stock valued at $274,000 after purchasing an additional 13 shares during the period. Venturi Wealth Management LLC grew its stake in HubSpot by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker's stock worth $861,000 after buying an additional 16 shares during the period. WCM Investment Management LLC grew its stake in HubSpot by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker's stock worth $1,553,000 after buying an additional 17 shares during the period. Yousif Capital Management LLC grew its stake in HubSpot by 3.0% during the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock worth $378,000 after buying an additional 19 shares during the period. Finally, Ballentine Partners LLC grew its stake in HubSpot by 3.5% during the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker's stock worth $334,000 after buying an additional 20 shares during the period. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the sale, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 19,998 shares of company stock worth $10,928,616. Corporate insiders own 4.50% of the company's stock.

HubSpot Stock Performance

NYSE HUBS traded down $2.38 during trading on Wednesday, hitting $545.95. The stock had a trading volume of 150,165 shares, compared to its average volume of 683,409. The company has a market capitalization of $28.79 billion, a PE ratio of -1,214.67, a P/E/G ratio of 20.32 and a beta of 1.66. The company's 50-day moving average price is $566.27 and its two-hundred day moving average price is $624.60. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13.

Wall Street Analyst Weigh In

HUBS has been the subject of several research reports. Morgan Stanley boosted their price objective on shares of HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $900.00 target price on shares of HubSpot in a report on Friday, May 9th. Wall Street Zen cut shares of HubSpot from a "buy" rating to a "hold" rating in a report on Saturday. Citigroup raised their price objective on shares of HubSpot from $750.00 to $759.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company reduced 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. Five research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, HubSpot has a consensus 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.