Merit Financial Group LLC Purchases 1,602 Shares of HubSpot, Inc. (NYSE:HUBS)

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

Other institutional investors also recently modified their holdings of the company. Elequin Capital LP bought a new position in shares of HubSpot in the fourth quarter worth about $27,000. Larson Financial Group LLC raised its stake in shares of HubSpot by 168.8% during the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker's stock worth $30,000 after buying an additional 27 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after buying an additional 22 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of HubSpot by 213.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker's stock worth $33,000 after buying an additional 32 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of HubSpot during the fourth quarter worth approximately $35,000. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Up 1.1%

HUBS traded up $6.35 during trading hours on Friday, hitting $608.96. 593,435 shares of the company's stock were exchanged, compared to its average volume of 614,951. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13. The stock's 50-day moving average is $591.03 and its two-hundred day moving average is $667.67. The stock has a market cap of $32.12 billion, a price-to-earnings ratio of 6,766.96, a PEG ratio of 41.44 and a beta of 1.70.

Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the completion of the transaction, the insider now owns 525,687 shares in the company, valued at approximately $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the sale, the chief executive officer now directly owns 72,373 shares in the company, valued at $41,536,312.16. This trade represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,062 shares of company stock worth $11,516,757. 4.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Barclays dropped their price target on shares of HubSpot from $815.00 to $745.00 and set an "overweight" rating for the company in a research note on Friday, May 9th. Stephens assumed coverage on shares of HubSpot in a research note on Wednesday, March 19th. They set an "overweight" rating and a $769.00 price target for the company. BNP Paribas started coverage on shares of HubSpot in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 price target for the company. Macquarie started coverage on shares of HubSpot in a report on Monday, March 24th. They set an "outperform" rating and a $730.00 price objective for the company. Finally, Piper Sandler boosted their price objective on shares of HubSpot from $535.00 to $645.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $767.61.

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.