Neuberger Berman Group LLC Purchases 30,904 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Neuberger Berman Group LLC increased its stake in HubSpot, Inc. by 34.4% in the first quarter, owning 120,835 shares valued at approximately $69 million.
• HubSpot reported earnings per share of $2.19, exceeding estimates, with quarterly revenue up by 19.4% year-over-year.
• Analyst ratings vary, with a consensus rating of "Moderate Buy" and an average target price of $726.04 after recent adjustments by various financial institutions.

Neuberger Berman Group LLC increased its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 34.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,835 shares of the software maker's stock after acquiring an additional 30,904 shares during the period. Neuberger Berman Group LLC owned about 0.23% of HubSpot worth $69,031,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its holdings in shares of HubSpot by 37.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after purchasing an additional 251,853 shares during the last quarter. Vanguard Group Inc. lifted its position in HubSpot by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after buying an additional 201,994 shares in the last quarter. GAMMA Investing LLC grew its holdings in HubSpot by 80,552.5% during the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock worth $1,018,280,000 after acquiring an additional 178,021 shares during the last quarter. Nuveen LLC acquired a new stake in HubSpot in the 1st quarter valued at about $99,963,000. Finally, Two Sigma Investments LP increased its position in HubSpot by 156.1% in the 4th quarter. Two Sigma Investments LP now owns 143,217 shares of the software maker's stock valued at $99,789,000 after acquiring an additional 87,298 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other HubSpot news, 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 in the company, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the sale, the director directly owned 522,435 shares in the company, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,998 shares of company stock valued at $10,928,616 in the last quarter. 4.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on HUBS shares. Wall Street Zen upgraded shares of HubSpot from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reduced their price objective on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. BNP Paribas began coverage on HubSpot in a research note on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 target price for the company. Stifel Nicolaus dropped their target price on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Finally, Oppenheimer raised their price target on HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $726.04.

HubSpot Stock Up 2.3%

HUBS traded up $9.82 during trading on Friday, hitting $439.72. The company had a trading volume of 856,182 shares, compared to its average volume of 1,019,774. The company has a market capitalization of $23.17 billion, a PE ratio of -1,911.83, a PEG ratio of 15.14 and a beta of 1.66. HubSpot, Inc. has a one year low of $418.34 and a one year high of $881.13. The firm's 50-day moving average price is $530.83 and its 200 day moving average price is $601.09.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%. The company's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.94 earnings per share. Sell-side analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current year.

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.