Legal & General Group Plc Raises Position in HubSpot, Inc. $HUBS

Key Points

• Legal & General Group Plc boosted its stake in HubSpot by 8.3% in Q3, buying 28,351 shares to hold 370,968 shares (about 0.71% of the company) valued at roughly $173.54 million.
• HubSpot beat recent quarterly estimates with $3.09 EPS (vs. $2.99 expected) and revenue of $846.75 million, marking 20.4% year-over-year revenue growth.
• Analysts view HUBS as a “Moderate Buy” with a consensus target of $454.20; two analysts rate it Strong Buy, 27 Buy, one Hold and one Sell, while several banks recently lowered price targets.

Legal & General Group Plc grew its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 370,968 shares of the software maker's stock after acquiring an additional 28,351 shares during the period. Legal & General Group Plc owned about 0.71% of HubSpot worth $173,539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Empowered Funds LLC boosted its holdings in HubSpot by 88.5% in the first quarter. Empowered Funds LLC now owns 1,570 shares of the software maker's stock valued at $897,000 after purchasing an additional 737 shares during the period. Allworth Financial LP grew its stake in HubSpot by 67.7% during the 2nd quarter. Allworth Financial LP now owns 275 shares of the software maker's stock worth $153,000 after purchasing an additional 111 shares in the last quarter. Vise Technologies Inc. purchased a new stake in HubSpot during the 2nd quarter worth about $313,000. National Pension Service increased its holdings in HubSpot by 0.8% during the 2nd quarter. National Pension Service now owns 72,175 shares of the software maker's stock worth $40,175,000 after purchasing an additional 545 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in HubSpot by 12.4% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,215 shares of the software maker's stock valued at $17,932,000 after purchasing an additional 3,564 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

HUBS has been the subject of a number of analyst reports. Morgan Stanley reissued an "overweight" rating on shares of HubSpot in a research report on Thursday, February 12th. JPMorgan Chase & Co. decreased their price target on shares of HubSpot from $650.00 to $530.00 and set an "overweight" rating for the company in a research note on Thursday, February 12th. The Goldman Sachs Group lowered their price target on shares of HubSpot from $517.00 to $442.00 and set a "buy" rating for the company in a report on Thursday, February 12th. Cantor Fitzgerald increased their price objective on shares of HubSpot from $280.00 to $325.00 and gave the company an "overweight" rating in a research report on Tuesday, March 3rd. Finally, Weiss Ratings restated a "sell (e+)" rating on shares of HubSpot in a report on Friday, January 9th. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $454.20.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $257.56 on Friday. HubSpot, Inc. has a one year low of $207.20 and a one year high of $682.57. The stock has a market capitalization of $13.58 billion, a price-to-earnings ratio of 296.05, a PEG ratio of 3.86 and a beta of 1.40. The company has a 50-day simple moving average of $287.85 and a 200-day simple moving average of $384.65.

HubSpot (NYSE:HUBS - Get Free Report) last released 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. The firm had revenue of $846.75 million for the quarter, compared to analyst estimates of $830.65 million. HubSpot had a return on equity of 3.64% and a net margin of 1.47%.The business's revenue was up 20.4% on a year-over-year basis. During the same quarter last year, the company posted $2.32 earnings per share. As a group, research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In other news, insider Erika Ashley Fisher sold 841 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $238.01, for a total transaction of $200,166.41. Following the completion of the sale, the insider owned 10,119 shares in the company, valued at $2,408,423.19. This represents a 7.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction on 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 of the company's stock, valued at approximately $147,850,422.72. This represents a 1.71% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,691 shares of company stock worth $8,136,702 over the last quarter. Company insiders own 4.00% of the company's stock.

About HubSpot

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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