M&T Bank Corp Grows Stock Holdings in HubSpot, Inc. $HUBS

Key Points

• M&T Bank Corp boosted its stake in HubSpot by 318.9% in the fourth quarter, adding 7,205 shares to hold 9,464 shares worth about $3.45 million.
• HubSpot beat quarterly estimates with $3.09 EPS vs. $2.99 expected and revenue of $846.75M (vs. $830.65M), with revenue up 20.4% year-over-year.
• Institutional investors own 90.39% of the stock; analysts have a consensus "Moderate Buy" with an average price target of $399.89, while insiders sold 26,483 shares (~$6.6M) in the past 90 days.

M&T Bank Corp boosted its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 318.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,464 shares of the software maker's stock after purchasing an additional 7,205 shares during the quarter. M&T Bank Corp's holdings in HubSpot were worth $3,453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBS. Vanguard Group Inc. raised its stake in shares of HubSpot by 6.4% in the third quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker's stock valued at $2,683,659,000 after acquiring an additional 345,524 shares during the period. AQR Capital Management LLC raised its stake in shares of HubSpot by 89.2% in the third quarter. AQR Capital Management LLC now owns 546,436 shares of the software maker's stock valued at $255,623,000 after acquiring an additional 257,577 shares during the period. Atreides Management LP purchased a new stake in shares of HubSpot in the third quarter valued at $113,878,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of HubSpot in the third quarter valued at $99,737,000. Finally, Amundi raised its stake in shares of HubSpot by 57.6% in the third quarter. Amundi now owns 452,252 shares of the software maker's stock valued at $209,660,000 after acquiring an additional 165,315 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Price Performance

HUBS stock opened at $225.03 on Tuesday. The company has a market capitalization of $11.87 billion, a PE ratio of 258.65, a P/E/G ratio of 3.09 and a beta of 1.44. HubSpot, Inc. has a 12 month low of $187.45 and a 12 month high of $682.57. The firm's 50-day moving average is $244.00 and its 200 day moving average is $326.84.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings results on Wednesday, February 11th. The software maker reported $3.09 EPS for the quarter, topping the consensus estimate of $2.99 by $0.10. The company had revenue of $846.75 million for the quarter, compared to the consensus estimate of $830.65 million. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The firm's revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the firm posted $2.32 EPS. Sell-side analysts forecast that HubSpot, Inc. will post 3.62 EPS for the current fiscal year.

Insider Activity

In related news, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $262.75, for a total value of $2,233,375.00. Following the transaction, the director owned 370,558 shares of the company's stock, valued at $97,364,114.50. This trade represents a 2.24% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of the firm's stock in a transaction dated 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 transaction, the insider directly owned 10,119 shares in the company, valued at $2,408,423.19. This represents a 7.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,483 shares of company stock worth $6,585,062 in the last ninety days. 4.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on HUBS shares. Citigroup reissued a "buy" rating on shares of HubSpot in a research note on Friday, April 10th. Truist Financial reduced their target price on shares of HubSpot from $650.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Needham & Company LLC reduced their target price on shares of HubSpot from $700.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, February 12th. Zacks Research downgraded shares of HubSpot from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, April 14th. Finally, Piper Sandler reduced their target price on shares of HubSpot from $280.00 to $260.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 14th. Twenty-five research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, HubSpot presently has a consensus rating of "Moderate Buy" and an average price target of $399.89.

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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