Jennison Associates LLC Increases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Jennison Associates LLC grew its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 10.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 122,519 shares of the software maker's stock after purchasing an additional 11,174 shares during the period. Jennison Associates LLC owned about 0.23% of HubSpot worth $69,994,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of HubSpot during the 4th quarter worth approximately $420,345,000. Massachusetts Financial Services Co. MA lifted its holdings in HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after buying an additional 251,853 shares during the period. GAMMA Investing LLC increased its position in HubSpot by 80,552.5% during the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock valued at $1,018,280,000 after buying an additional 178,021 shares in the last quarter. Alliancebernstein L.P. boosted its stake in shares of HubSpot by 61.9% in the 4th quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker's stock worth $199,504,000 after buying an additional 109,449 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in HubSpot by 156.1% during the fourth quarter. Two Sigma Investments LP now owns 143,217 shares of the software maker's stock valued at $99,789,000 after acquiring an additional 87,298 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

HubSpot Stock Up 2.6%

NYSE HUBS traded up $13.65 on Friday, hitting $542.25. The stock had a trading volume of 676,103 shares, compared to its average volume of 606,327. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The stock has a market cap of $28.60 billion, a price-to-earnings ratio of -1,205.00, a P/E/G ratio of 20.16 and a beta of 1.66. The company's 50-day moving average is $580.97 and its two-hundred day moving average is $632.33.

Wall Street Analyst Weigh In

HUBS has been the topic of several research analyst reports. Needham & Company LLC reiterated a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. The Goldman Sachs Group decreased their price target on HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Cantor Fitzgerald initiated coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective for the company. Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a research report on Saturday, July 12th. Finally, Wells Fargo & Company decreased their price objective on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Four equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $761.54.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the 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 of the company's stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the firm's 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 $339,350.85. Following the sale, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,678 shares of company stock worth $11,336,616. 4.50% of the stock is currently owned by company insiders.

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.