Mitsubishi UFJ Asset Management Co. Ltd. Purchases 6,247 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in HubSpot by 18.2%, now owning approximately 0.08% of the company worth $23.22 million.
• The stock of HubSpot has seen a 2.8% decline, with its current price around $449.10, down from a 52-week high of $881.13.
• HubSpot reported quarterly earnings with an EPS of $2.19, surpassing analyst expectations and showing a 19.4% revenue growth year-over-year.

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 18.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,648 shares of the software maker's stock after purchasing an additional 6,247 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.08% of HubSpot worth $23,222,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Elequin Capital LP acquired a new position in HubSpot in the 4th quarter worth approximately $27,000. Coppell Advisory Solutions LLC increased its holdings in HubSpot by 91.7% in the 4th 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 period. Cullen Frost Bankers Inc. increased its holdings in HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares during the period. N.E.W. Advisory Services LLC acquired a new position in HubSpot in the 1st quarter worth approximately $35,000. Finally, Colonial Trust Co SC boosted its position in 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 purchasing an additional 30 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Stock Down 1.8%

HubSpot stock traded down $7.85 during mid-day trading on Thursday, hitting $429.90. 687,500 shares of the company's stock were exchanged, compared to its average volume of 730,982. The firm has a market capitalization of $22.65 billion, a P/E ratio of -1,869.13, a PEG ratio of 13.91 and a beta of 1.66. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The company's 50 day simple moving average is $537.67 and its 200-day simple moving average is $607.03.

HubSpot (NYSE:HUBS - Get Free Report) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.12 by $0.07. The firm had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%. The company's revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 EPS. Research analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on HUBS. The Goldman Sachs Group lowered their price objective on HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Wells Fargo & Company set a $680.00 target price on HubSpot and gave the company an "overweight" rating in a research report on Thursday, August 7th. Macquarie decreased their target price on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a research report on Thursday, August 7th. Morgan Stanley increased their target price on HubSpot from $659.00 to $752.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Barclays decreased their target price on HubSpot from $745.00 to $675.00 and set an "overweight" rating on the stock in a research report on Monday, July 21st. Three investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.04.

Insider Activity

In related news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the completion of the transaction, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction dated 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 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 disclosure for this sale can be found here. Insiders sold 19,998 shares of company stock worth $10,928,616 in the last quarter. Corporate insiders own 4.00% of the company's stock.

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.