Wealth Enhancement Advisory Services LLC Raises Stock Position in HubSpot, Inc. (NYSE:HUBS)

Wealth Enhancement Advisory Services LLC boosted its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 45.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,647 shares of the software maker's stock after acquiring an additional 1,450 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in HubSpot were worth $3,238,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of HUBS. Norges Bank bought a new position in HubSpot during the 4th quarter valued at approximately $420,345,000. Raymond James Financial Inc. purchased a new position in shares of HubSpot during the fourth quarter valued at approximately $157,019,000. Wealthfront Advisers LLC increased its stake in shares of HubSpot by 3,090.2% during the fourth quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker's stock valued at $93,049,000 after buying an additional 129,357 shares during the period. Proficio Capital Partners LLC bought a new position in shares of HubSpot during the fourth quarter valued at approximately $79,135,000. Finally, Alliancebernstein L.P. lifted its stake in HubSpot by 61.9% in the fourth quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker's stock worth $199,504,000 after acquiring 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

Shares of HubSpot stock traded up $6.35 during trading on Friday, hitting $608.96. The stock had a trading volume of 593,435 shares, compared to its average volume of 612,971. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The firm's fifty day simple moving average is $590.50 and its 200-day simple moving average is $668.37. The stock has a market cap of $32.12 billion, a PE ratio of 6,766.96, a PEG ratio of 41.44 and a beta of 1.78.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on HUBS. KeyCorp raised shares of HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 price objective on the stock in a research report on Thursday, February 13th. Raymond James reiterated an "outperform" rating and set a $825.00 price target (down previously from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Wall Street Zen lowered shares of HubSpot from a "buy" rating to a "hold" rating in a report on Friday, May 30th. JPMorgan Chase & Co. upped their target price on HubSpot from $635.00 to $725.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Finally, Truist Financial decreased their target price on HubSpot from $900.00 to $720.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $767.61.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 680 shares of the stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $600.00, for a total value of $408,000.00. Following the sale, the chief executive officer now directly owns 71,693 shares in the company, valued at approximately $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction on 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 transaction, the insider now 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 position. 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 over the last 90 days. Insiders own 4.50% of the company's stock.

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.