Korea Investment CORP Buys 6,644 Shares of HubSpot, Inc. $HUBS

Key Points

• Korea Investment CORP increased its stake in HubSpot by 24.2%, buying 6,644 shares to hold 34,080 shares worth roughly $15.94 million (about 0.07% of the company).
• HubSpot beat quarterly estimates, reporting $3.09 EPS vs. $2.99 expected and revenue of $846.75 million, up 20.4% year‑over‑year.
• Analysts cut price targets (several to around $300) and the stock traded down about 6.1% to $269.44, though the consensus rating remains a "Moderate Buy" with a $454.20 target.

Korea Investment CORP grew its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 24.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,080 shares of the software maker's stock after buying an additional 6,644 shares during the period. Korea Investment CORP owned approximately 0.07% of HubSpot worth $15,943,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in HUBS. Goodman Advisory Group LLC bought a new position in shares of HubSpot in the 2nd quarter valued at approximately $27,000. Exane Asset Management acquired a new stake in HubSpot in the 3rd quarter worth approximately $30,000. Rakuten Securities Inc. boosted its position in HubSpot by 783.3% during 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 period. Westside Investment Management Inc. boosted its position in HubSpot by 80.5% during the third quarter. Westside Investment Management Inc. now owns 74 shares of the software maker's stock worth $33,000 after purchasing an additional 33 shares during the period. Finally, Osterweis Capital Management Inc. acquired a new position in HubSpot during the second quarter valued at approximately $34,000. Institutional investors own 90.39% of the company's stock.

HubSpot Trading Down 6.1%

Shares of HUBS stock opened at $269.44 on Wednesday. The firm has a market capitalization of $14.21 billion, a P/E ratio of 309.70, a price-to-earnings-growth ratio of 4.28 and a beta of 1.40. HubSpot, Inc. has a 1 year low of $207.20 and a 1 year high of $682.57. The firm's fifty day simple moving average is $293.57 and its 200 day simple moving average is $386.43.

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 for the quarter, beating analysts' consensus estimates of $2.99 by $0.10. The firm had revenue of $846.75 million during the quarter, compared to the consensus estimate of $830.65 million. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The business's revenue was up 20.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.32 EPS. Equities research analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HUBS. Truist Financial dropped their price target on shares of HubSpot from $650.00 to $300.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Mizuho decreased their price objective on shares of HubSpot from $550.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, February 12th. Needham & Company LLC dropped their target price on shares of HubSpot from $700.00 to $300.00 and set a "buy" rating on the stock in a report on Thursday, February 12th. Stifel Nicolaus cut their target price on shares of HubSpot from $550.00 to $500.00 and set a "buy" rating for the company in a research report on Friday, January 23rd. Finally, Jefferies Financial Group lowered their price target on HubSpot from $560.00 to $325.00 and set a "buy" rating on the stock in a research report on Thursday, February 12th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, HubSpot has a consensus rating of "Moderate Buy" and a consensus target price of $454.20.

Insider Transactions at HubSpot

In related news, insider Erika Ashley Fisher sold 841 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the sale, the insider owned 10,119 shares in the company, valued at approximately $2,408,423.19. This trade represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total value of $2,578,730.00. Following the sale, the director directly owned 487,344 shares in the company, valued at approximately $147,850,422.72. This trade represents a 1.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 26,691 shares of company stock valued at $8,136,702 in the last ninety days. 4.00% of the stock is owned by company 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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