HubSpot, Inc. (NYSE:HUBS) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,985 shares of the software maker's stock after selling 57,538 shares during the period. Bank of New York Mellon Corp owned about 1.18% of HubSpot worth $352,478,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Impax Asset Management Group plc boosted its holdings in shares of HubSpot by 220.2% in the 1st quarter. Impax Asset Management Group plc now owns 16,738 shares of the software maker's stock valued at $9,562,000 after buying an additional 11,511 shares in the last quarter. IFM Investors Pty Ltd boosted its holdings in shares of HubSpot by 8.9% in the 1st quarter. IFM Investors Pty Ltd now owns 10,066 shares of the software maker's stock valued at $5,351,000 after buying an additional 825 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of HubSpot by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after buying an additional 1,276 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of HubSpot by 1,881.0% in the 1st quarter. Teacher Retirement System of Texas now owns 9,053 shares of the software maker's stock valued at $5,172,000 after buying an additional 8,596 shares in the last quarter. Finally, Private Trust Co. NA boosted its holdings in shares of HubSpot by 481.5% in the 1st quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after buying an additional 130 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other HubSpot news, CFO Kathryn Bueker sold 615 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 transaction of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares of the company's stock, valued at $22,670,843.94. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction 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. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,678 shares of company stock valued at $11,298,621 in the last 90 days. 4.50% of the stock is owned by insiders.

HubSpot Stock Performance

HubSpot stock traded down $5.62 during trading on Monday, reaching $555.24. The company had a trading volume of 538,378 shares, compared to its average volume of 630,213. The firm's 50-day simple moving average is $598.04 and its 200 day simple moving average is $643.09. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13. The firm has a market capitalization of $29.28 billion, a PE ratio of -1,233.87, a price-to-earnings-growth ratio of 20.38 and a beta of 1.66.

Analyst Ratings Changes

Several brokerages recently commented on HUBS. Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Piper Sandler increased their price objective on shares of HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Stifel Nicolaus set a $750.00 price objective on shares of HubSpot in a research report on Friday, April 25th. Stephens began coverage on shares of HubSpot in a research report on Wednesday, March 19th. They issued an "overweight" rating and a $769.00 price objective for the company. Finally, Barclays decreased their price objective on shares of HubSpot from $815.00 to $745.00 and set an "overweight" rating for the company in a research report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $766.71.

HubSpot 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.