Jump Financial LLC Invests $7.74 Million in HubSpot, Inc. $HUBS

Key Points

• Jump Financial LLC acquired 13,551 shares of HubSpot, totaling approximately $7.74 million, during the first quarter, indicating growing interest from institutional investors in the software company.
• Analyst ratings on HubSpot have fluctuated, with Piper Sandler upgrading it to "overweight" with a price target of $675.00, while several others have reduced their targets, reflecting mixed sentiment among analysts.
• HubSpot reported a quarterly revenue of $760.87 million, surpassing analysts' expectations, and its earnings per share (EPS) was $2.19, beating the consensus estimate by $0.07, showcasing strong performance despite a negative net margin.

Jump Financial LLC acquired a new stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,551 shares of the software maker's stock, valued at approximately $7,742,000.

A number of other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC increased its position in HubSpot by 29.3% in the first quarter. Smartleaf Asset Management LLC now owns 349 shares of the software maker's stock worth $203,000 after buying an additional 79 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its position in HubSpot by 16.3% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 837 shares of the software maker's stock worth $478,000 after buying an additional 117 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in HubSpot by 0.4% in the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 9,380 shares of the software maker's stock worth $5,359,000 after buying an additional 37 shares in the last quarter. Sax Wealth Advisors LLC increased its position in HubSpot by 47.3% in the first quarter. Sax Wealth Advisors LLC now owns 1,262 shares of the software maker's stock worth $721,000 after buying an additional 405 shares in the last quarter. Finally, Allstate Corp increased its position in HubSpot by 50.5% in the first quarter. Allstate Corp now owns 2,173 shares of the software maker's stock worth $1,241,000 after buying an additional 729 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on HUBS shares. Citigroup reduced their price target on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. Stifel Nicolaus reduced their price target on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Macquarie reduced their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. reduced their price target on HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Finally, KeyCorp reduced their price target on HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $726.04.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the sale, the director directly owned 522,435 shares of the company's stock, valued at $235,012,160.40. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 2,383 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,498 shares of company stock valued at $14,752,256 in the last ninety days. Insiders own 4.00% of the company's stock.

HubSpot Stock Up 1.5%

HubSpot stock traded up $6.95 during midday trading on Thursday, reaching $476.43. 870,050 shares of the stock traded hands, compared to its average volume of 738,458. The stock's fifty day moving average is $512.28 and its 200-day moving average is $582.68. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The stock has a market cap of $25.10 billion, a P/E ratio of -2,071.41, a PEG ratio of 15.76 and a beta of 1.66.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating analysts' consensus estimates of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same period in the prior year, the company earned $1.94 earnings per share. The firm's revenue was up 19.4% on a year-over-year basis. On average, equities 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.