Spyglass Capital Management LLC Grows Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Spyglass Capital Management LLC grew its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 14.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 106,551 shares of the software maker's stock after buying an additional 13,223 shares during the quarter. HubSpot accounts for 4.2% of Spyglass Capital Management LLC's investment portfolio, making the stock its 12th biggest position. Spyglass Capital Management LLC owned 0.21% of HubSpot worth $74,242,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in HUBS. Norges Bank purchased a new position in HubSpot in the 4th quarter worth $420,345,000. Raymond James Financial Inc. purchased a new position in HubSpot in the 4th quarter worth $157,019,000. Wealthfront Advisers LLC raised its position in HubSpot by 3,090.2% in the 4th quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker's stock worth $93,049,000 after purchasing an additional 129,357 shares during the period. Proficio Capital Partners LLC purchased a new position in HubSpot in the 4th quarter worth $79,135,000. Finally, Alliancebernstein L.P. raised its position in HubSpot by 61.9% in the 4th quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker's stock worth $199,504,000 after purchasing an additional 109,449 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Price Performance

NYSE HUBS traded up $4.78 during trading hours on Thursday, reaching $626.03. 571,501 shares of the company's stock traded hands, compared to its average volume of 624,559. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The firm has a market cap of $33.02 billion, a PE ratio of 6,956.66, a PEG ratio of 41.44 and a beta of 1.78. The firm has a 50-day simple moving average of $589.97 and a 200 day simple moving average of $671.94.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HUBS. Sanford C. Bernstein began coverage on shares of HubSpot in a research report on Thursday, March 20th. They issued a "market perform" rating and a $693.00 target price on the stock. BNP Paribas assumed coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 target price on the stock. Citigroup raised their price target on shares of HubSpot from $750.00 to $759.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Jefferies Financial Group cut their price target on shares of HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Finally, The Goldman Sachs Group cut their price target on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $767.33.

Insider Activity at HubSpot

In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the transaction, the insider now directly owns 527,233 shares of the company's stock, valued at approximately $320,283,502.84. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yamini Rangan sold 680 shares of HubSpot stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the completion of the transaction, the chief executive officer now directly owns 71,693 shares of the company's stock, valued at $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,062 shares of company stock valued at $11,516,757 in the last three months. Company insiders own 4.50% 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.