Jennison Associates LLC Trims Holdings in HubSpot, Inc. $HUBS

Key Points

• Jennison Associates cut its stake in HubSpot by 97.1% in Q4, selling 408,969 shares and leaving 12,310 shares valued at about $4.94 million, according to its SEC filing.
• Analysts have sharply lowered price targets for HUBS (examples: Canaccord 485→350, Jefferies 560→325, Truist 650→300), but the consensus remains a "Moderate Buy" with an average price target of $388.07 (25 Buys, 2 Holds, 1 Sell).
• Shares trade near $240 (50-day avg $242.77) well below the 1‑year high of $682.57; institutional ownership is high at 90.39% and insiders have sold about 26,483 shares (~$6.59M) in the past three months.

Jennison Associates LLC trimmed its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 97.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,310 shares of the software maker's stock after selling 408,969 shares during the quarter. Jennison Associates LLC's holdings in HubSpot were worth $4,940,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. raised its stake in shares of HubSpot by 783.3% in the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker's stock worth $30,000 after purchasing an additional 47 shares during the last quarter. Strategic Advocates LLC purchased a new position in shares of HubSpot in the third quarter worth about $25,000. Turning Point Benefit Group Inc. purchased a new position in shares of HubSpot in the third quarter worth about $25,000. Osterweis Capital Management Inc. purchased a new position in shares of HubSpot in the second quarter worth about $34,000. Finally, Exane Asset Management acquired a new stake in HubSpot during the third quarter worth about $30,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on HUBS shares. Canaccord Genuity Group dropped their target price on HubSpot from $485.00 to $350.00 and set a "buy" rating on the stock in a report on Thursday, April 16th. Jefferies Financial Group dropped their target price on HubSpot from $560.00 to $325.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. The Goldman Sachs Group dropped their target price on HubSpot from $517.00 to $442.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Truist Financial reduced their target price on HubSpot from $650.00 to $300.00 and set a "buy" rating for the company in a research note on Thursday, February 12th. Finally, Wall Street Zen downgraded HubSpot from a "strong-buy" rating to a "buy" rating in a research note on Sunday, April 19th. Twenty-five investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $388.07.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $240.09 on Friday. The business's 50 day moving average price is $242.77 and its 200-day moving average price is $323.05. The firm has a market capitalization of $12.36 billion, a PE ratio of 275.96, a P/E/G ratio of 3.27 and a beta of 1.23. HubSpot, Inc. has a 1 year low of $187.45 and a 1 year high of $682.57.

HubSpot (NYSE:HUBS - Get Free Report) last issued its quarterly earnings results on Wednesday, February 11th. The software maker reported $3.09 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.99 by $0.10. HubSpot had a return on equity of 3.64% and a net margin of 1.47%.The firm had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. During the same period in the previous year, the company posted $2.32 earnings per share. The business's revenue was up 20.4% on a year-over-year basis. As a group, analysts expect that HubSpot, Inc. will post 3.66 earnings per share for the current year.

Insiders Place Their Bets

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $262.75, for a total transaction of $2,233,375.00. Following the transaction, the director owned 370,558 shares of the company's stock, valued at approximately $97,364,114.50. The trade was a 2.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of the business's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $238.01, for a total value of $200,166.41. Following the transaction, the insider directly owned 10,119 shares in the company, valued at $2,408,423.19. This trade represents a 7.67% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 26,483 shares of company stock worth $6,585,062 in the last three months. 4.00% of the stock is currently owned by corporate insiders.

HubSpot Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company's product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.

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