HubSpot, Inc. (NYSE:HUBS) Stake Raised by Legato Capital Management LLC

Legato Capital Management LLC boosted its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 96.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,500 shares of the software maker's stock after purchasing an additional 2,700 shares during the period. Legato Capital Management LLC's holdings in HubSpot were worth $3,142,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of HUBS. Private Trust Co. NA lifted its position in 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 acquiring an additional 130 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in HubSpot by 4.6% during the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock worth $16,427,000 after purchasing an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC boosted its holdings in HubSpot by 1,840.0% during the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock worth $55,000 after purchasing an additional 92 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new position in HubSpot during the first quarter worth about $235,000. Finally, Amalgamated Bank boosted its holdings in HubSpot by 6.9% during the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after purchasing an additional 226 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Stock Performance

NYSE:HUBS opened at $550.79 on Wednesday. The stock has a 50-day simple moving average of $580.97 and a 200 day simple moving average of $631.43. The company has a market cap of $29.05 billion, a PE ratio of -1,223.97, a PEG ratio of 20.32 and a beta of 1.66. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. BMO Capital Markets reduced their target price on shares of HubSpot from $735.00 to $650.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. BNP Paribas started coverage on shares of HubSpot in a report on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 price target on the stock. The Goldman Sachs Group cut their target price on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating for the company in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 target price on shares of HubSpot in a research report on Friday, May 9th. Finally, Oppenheimer upped their price target on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $759.04.

Insider Buying and Selling

In related news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the director owned 522,435 shares of the company's stock, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of the 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 completion of the transaction, the chief executive officer 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 disclosure for this sale can be found here. In the last three months, insiders have sold 20,678 shares of company stock valued at $11,336,616. 4.50% of the stock is owned by insiders.

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.

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