Merit Financial Group LLC Increases Stake in HubSpot, Inc. (NYSE:HUBS)

Merit Financial Group LLC boosted its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 185.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,467 shares of the software maker's stock after purchasing an additional 1,602 shares during the period. Merit Financial Group LLC's holdings in HubSpot were worth $1,409,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Wellington Management Group LLP raised its stake in HubSpot by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker's stock worth $1,029,262,000 after buying an additional 74,990 shares during the last quarter. Geode Capital Management LLC grew its holdings in HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker's stock worth $577,572,000 after acquiring an additional 9,922 shares during the period. Groupama Asset Managment grew its holdings in HubSpot by 3.8% during the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker's stock worth $506,412,000 after acquiring an additional 26,799 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of HubSpot by 18.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker's stock worth $471,068,000 after acquiring an additional 104,800 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of HubSpot by 3.8% in the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker's stock worth $469,987,000 after acquiring an additional 24,799 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Down 4.2%

HubSpot stock traded down $25.24 during midday trading on Tuesday, hitting $580.83. 1,206,050 shares of the stock were exchanged, compared to its average volume of 616,848. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The business's 50-day moving average price is $592.41 and its 200-day moving average price is $665.77. The stock has a market capitalization of $30.63 billion, a price-to-earnings ratio of 6,454.33, a price-to-earnings-growth ratio of 41.44 and a beta of 1.70.

Insider Buying and Selling

In other HubSpot news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the sale, the insider now owns 527,233 shares of the company's stock, valued at approximately $320,283,502.84. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Yamini Rangan sold 2,382 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the transaction, the chief executive officer now directly owns 72,373 shares of the company's stock, valued at $41,536,312.16. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,062 shares of company stock valued at $11,516,757. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on HUBS. Oppenheimer raised their target price on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Jefferies Financial Group cut their price target on HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. The Goldman Sachs Group lowered their price objective on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating for the company in a research note on Friday, May 9th. KeyCorp upgraded shares of HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 target price on the stock in a research report on Thursday, February 13th. Finally, William Blair reissued an "outperform" rating on shares of HubSpot in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, HubSpot presently has a consensus rating of "Moderate Buy" and an average target price of $766.71.

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.