Kovitz Investment Group Partners LLC Sells 1,035 Shares of HubSpot, Inc. $HUBS

Key Points

• Kovitz Investment Group Partners LLC reduced its stake in HubSpot by 14.3%, selling 1,035 shares, and now owns 6,185 shares worth approximately $3.53 million.
• Various institutional investors, including Vanguard Group Inc. and Massachusetts Financial Services Co., have increased their holdings in HubSpot, demonstrating significant ongoing interest in the company.
• HubSpot reported an earnings per share (EPS) of $2.19 for the recent quarter, surpassing estimates and achieving a year-over-year revenue growth of 19.4%.

Kovitz Investment Group Partners LLC decreased its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,185 shares of the software maker's stock after selling 1,035 shares during the period. Kovitz Investment Group Partners LLC's holdings in HubSpot were worth $3,533,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in HUBS. Oak Ridge Investments LLC lifted its holdings in shares of HubSpot by 24.7% during the first quarter. Oak Ridge Investments LLC now owns 732 shares of the software maker's stock valued at $418,000 after purchasing an additional 145 shares during the last quarter. Vestmark Advisory Solutions Inc. boosted its holdings in shares of HubSpot by 95.9% in the first quarter. Vestmark Advisory Solutions Inc. now owns 1,326 shares of the software maker's stock worth $758,000 after buying an additional 649 shares during the period. Sit Investment Associates Inc. increased its position in shares of HubSpot by 0.7% in the first quarter. Sit Investment Associates Inc. now owns 14,550 shares of the software maker's stock worth $8,312,000 after acquiring an additional 100 shares in the last quarter. Neuberger Berman Group LLC increased its position in shares of HubSpot by 34.4% in the first quarter. Neuberger Berman Group LLC now owns 120,835 shares of the software maker's stock worth $69,031,000 after acquiring an additional 30,904 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new stake in shares of HubSpot during the first quarter valued at approximately $46,000. 90.39% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total transaction of $3,823,640.00. Following the sale, the director directly owned 522,435 shares in the company, valued at approximately $235,012,160.40. The trade was a 1.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot 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 sale, the chief executive officer directly owned 63,918 shares in the company, 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. In the last 90 days, insiders sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is currently owned by corporate insiders.

HubSpot Price Performance

NYSE:HUBS traded up $18.9620 during trading hours on Friday, reaching $474.9320. The company's stock had a trading volume of 638,400 shares, compared to its average volume of 736,522. The company has a market cap of $25.03 billion, a price-to-earnings ratio of -2,064.92, a price-to-earnings-growth ratio of 15.63 and a beta of 1.66. HubSpot, Inc. has a one year low of $418.34 and a one year high of $881.13. The business's 50-day moving average is $520.24 and its 200-day moving average is $593.38.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.07. The business had revenue of $760.87 million during the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. HubSpot's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.94 EPS. On average, sell-side analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on HUBS. Citigroup decreased their target price on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. JPMorgan Chase & Co. reduced their price objective on HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a research note on Thursday, August 7th. Wall Street Zen raised HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Scotiabank dropped their target price on HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price target on shares of HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $726.04.

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.