HubSpot, Inc. $HUBS Shares Sold by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co has reduced its stake in HubSpot, Inc. by 52.9%, now owning 8,000 shares valued at approximately $4.57 million.
• Despite Ilmarinen's reduction, other investors like Venturi Wealth Management and Yousif Capital Management have increased their holdings in HubSpot during the same quarter.
• HubSpot's recent earnings report showed a 19.4% increase in revenue year-over-year, achieving earnings per share of $2.19, exceeding analyst expectations.

Ilmarinen Mutual Pension Insurance Co cut its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 52.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,000 shares of the software maker's stock after selling 9,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in HubSpot were worth $4,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Elequin Capital LP purchased a new stake in shares of HubSpot during the fourth quarter worth approximately $27,000. Cullen Frost Bankers Inc. boosted its stake in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC acquired a new position in HubSpot during the first quarter worth $35,000. Clean Yield Group acquired a new position in HubSpot during the first quarter worth $41,000. Finally, GW&K Investment Management LLC boosted its stake in HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock worth $45,000 after buying an additional 53 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HubSpot

In related news, 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 completion of the transaction, the chief executive officer directly owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CTO Dharmesh Shah sold 17,253 shares of HubSpot stock in a transaction on Monday, September 8th. The stock was sold at an average price of $500.66, for a total value of $8,637,886.98. Following the transaction, the chief technology officer directly owned 1,275,805 shares of the company's stock, valued at approximately $638,744,531.30. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,594 shares of company stock valued at $21,410,984. Company insiders own 4.00% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on HUBS. Sanford C. Bernstein raised HubSpot from a "market perform" rating to an "outperform" rating and set a $606.00 price objective on the stock in a research note on Wednesday, September 3rd. Raymond James Financial decreased their price target on HubSpot from $825.00 to $655.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Stifel Nicolaus decreased their price target on HubSpot from $750.00 to $700.00 and set a "buy" rating on the stock in a research note on Monday, July 14th. JPMorgan Chase & Co. decreased their price target on HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen raised HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $722.93.

HubSpot Trading Down 0.5%

Shares of HUBS traded down $2.29 during mid-day trading on Tuesday, hitting $505.85. The company's stock had a trading volume of 142,749 shares, compared to its average volume of 738,671. The firm has a 50-day simple moving average of $497.22 and a 200 day simple moving average of $557.17. The firm has a market capitalization of $26.65 billion, a P/E ratio of -2,201.34, a P/E/G ratio of 16.93 and a beta of 1.58. HubSpot, Inc. has a 1-year low of $418.34 and a 1-year high of $881.13.

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

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.