HubSpot, Inc. (NYSE:HUBS) Shares Purchased by KLP Kapitalforvaltning AS

KLP Kapitalforvaltning AS grew its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 26,750 shares of the software maker's stock after acquiring an additional 2,100 shares during the period. KLP Kapitalforvaltning AS owned about 0.05% of HubSpot worth $15,282,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Wellington Management Group LLP raised its holdings in HubSpot by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker's stock valued at $1,029,262,000 after acquiring an additional 74,990 shares during the last quarter. Massachusetts Financial Services Co. MA raised 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 valued at $530,115,000 after acquiring an additional 251,853 shares during the last quarter. Geode Capital Management LLC raised its holdings in HubSpot by 1.2% in the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker's stock valued at $577,572,000 after acquiring an additional 9,922 shares during the last quarter. Groupama Asset Managment raised its holdings in HubSpot by 3.8% in the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker's stock valued at $506,412,000 after acquiring an additional 26,799 shares during the last quarter. Finally, Norges Bank acquired a new position in HubSpot in the 4th quarter valued at $420,345,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Piper Sandler boosted their price target on HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Needham & Company LLC reissued a "buy" rating and set a $900.00 price objective on shares of HubSpot in a research note on Friday, May 9th. Barclays lowered their price objective on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a research note on Monday, July 21st. Scotiabank lowered their price objective on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Finally, Cantor Fitzgerald began 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. Five investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $759.04.

HubSpot Trading Up 1.4%

NYSE:HUBS traded up $7.65 on Friday, reaching $559.81. The stock had a trading volume of 601,522 shares, compared to its average volume of 735,680. The company has a 50-day moving average of $569.90 and a 200 day moving average of $626.72. The stock has a market cap of $29.52 billion, a P/E ratio of -1,244.03, a price-to-earnings-growth ratio of 20.80 and a beta of 1.66. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13.

Insider Activity

In other news, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction dated 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 sale, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the completion of the sale, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 19,998 shares of company stock worth $10,928,616. 4.50% of the stock is currently owned by corporate insiders.

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.