Magnetar Financial LLC Purchases 16,923 Shares of HubSpot, Inc. $HUBS

Key Points

• Magnetar Financial LLC significantly increased its stakes in HubSpot by purchasing an additional **16,923 shares**, bringing its total holdings to **17,861 shares** valued at approximately **$10.2 million**.
• Major institutional investors are actively adjusting their positions in HubSpot, with **90.39%** of the company's stock now owned by these entities.
• HubSpot demonstrated revenue growth of **19.4%** year-over-year, reporting **$760.87 million** in revenue and **$2.19 EPS**, exceeding analysts’ expectations.

Magnetar Financial LLC lifted its position in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 1,804.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 17,861 shares of the software maker's stock after purchasing an additional 16,923 shares during the quarter. Magnetar Financial LLC's holdings in HubSpot were worth $10,204,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Elequin Capital LP purchased a new stake in HubSpot in the 4th quarter valued at $27,000. Cullen Frost Bankers Inc. increased its stake in HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after buying an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC bought a new position in shares of HubSpot during the 1st quarter worth approximately $35,000. Colonial Trust Co SC boosted its stake in shares of HubSpot by 111.1% in the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after buying an additional 30 shares during the last quarter. Finally, Clean Yield Group purchased a new stake in shares of HubSpot during the first quarter valued at approximately $41,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insider Buying and Selling

In other HubSpot news, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the transaction, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. The trade was a 1.47% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 28,498 shares of company stock worth $14,752,256 in the last ninety days. 4.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on HUBS. BMO Capital Markets dropped their price objective on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Barclays cut their price objective on shares of HubSpot from $745.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, July 21st. JPMorgan Chase & Co. dropped their target price on HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a research report on Thursday, August 7th. Piper Sandler raised shares of HubSpot from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $645.00 to $675.00 in a report on Thursday, August 7th. Finally, Macquarie decreased their target price on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $726.04.

HubSpot Trading Up 1.5%

HUBS opened at $476.43 on Friday. The stock has a market capitalization of $25.10 billion, a P/E ratio of -2,071.41, a PEG ratio of 16.17 and a beta of 1.66. HubSpot, Inc. has a 12-month low of $418.34 and a 12-month high of $881.13. The stock has a 50-day moving average price of $512.28 and a 200-day moving average price of $582.68.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results 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. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The business had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same quarter in the prior year, the firm earned $1.94 earnings per share. HubSpot's revenue for the quarter was up 19.4% on a year-over-year basis. On average, equities research analysts predict that HubSpot, Inc. will post 1.01 EPS for the current 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.

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