iA Global Asset Management Inc. Buys 12,530 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• iA Global Asset Management Inc. significantly increased its stake in HubSpot, acquiring an additional 12,530 shares and bringing its total holdings to 12,800 shares valued at approximately $7.3 million.
• A variety of institutional investors have also shown interest in HubSpot, with some, like Coppell Advisory Solutions LLC and Aster Capital Management DIFC Ltd, increasing their stakes by over 200% in the last quarter.
• HubSpot's stock price has seen a decline of 2.0%, opening at $492.33, significantly down from its 12-month high of $881.13.

iA Global Asset Management Inc. boosted its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 4,640.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,800 shares of the software maker's stock after buying an additional 12,530 shares during the quarter. iA Global Asset Management Inc.'s holdings in HubSpot were worth $7,313,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA increased 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 worth $90,000 after acquiring an additional 130 shares during the period. Principal Financial Group Inc. raised 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 in the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of HubSpot by 1,840.0% in the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after buying an additional 92 shares during the period. Oppenheimer & Co. Inc. bought a new stake in HubSpot in the first quarter worth about $235,000. Finally, Amalgamated Bank lifted its stake in HubSpot by 6.9% during the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after purchasing an additional 226 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Stock Down 2.8%

HubSpot stock traded down $12.77 during mid-day trading on Friday, reaching $449.10. The company had a trading volume of 1,284,983 shares, compared to its average volume of 892,736. HubSpot, Inc. has a 52 week low of $444.25 and a 52 week high of $881.13. The firm has a market cap of $23.69 billion, a price-to-earnings ratio of -1,952.61, a PEG ratio of 16.67 and a beta of 1.66. The company has a 50 day moving average of $547.87 and a 200-day moving average of $613.34.

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

Wall Street Analyst Weigh In

HUBS has been the subject of a number of recent research reports. Citigroup cut their price objective on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday. Raymond James Financial lowered their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a report on Thursday. BMO Capital Markets dropped their price objective on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday. Scotiabank lowered their target price on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Finally, KeyCorp reissued an "overweight" rating and issued a $775.00 target price (down from $860.00) on shares of HubSpot in a research report on Thursday. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, HubSpot currently has a consensus rating of "Moderate Buy" and a consensus price target of $726.04.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the transaction, the director directly owned 522,435 shares in the company, valued at $283,718,775.45. The trade was a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 sale, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This trade represents a 3.59% 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 worth $10,928,616 over the last quarter. 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.