National Pension Service Grows Stake in HubSpot, Inc. (NYSE:HUBS)

Key Points

• The National Pension Service increased its stake in HubSpot, Inc. by 2.1% in Q1, owning approximately 71,630 shares valued at $40.92 million.
• HubSpot reported a quarterly earnings per share (EPS) of $2.19, beating estimates, with revenue up 19.4% year over year to $760.87 million.
• Analyst ratings indicate a consensus "Moderate Buy" with an average price target of $726.04, despite several institutions adjusting their price targets downward recently.

National Pension Service lifted its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 2.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 71,630 shares of the software maker's stock after purchasing an additional 1,472 shares during the quarter. National Pension Service owned about 0.14% of HubSpot worth $40,922,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Private Trust Co. NA raised its holdings in shares of HubSpot by 481.5% in the 1st quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after acquiring an additional 130 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of HubSpot by 4.6% in the first quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock worth $16,427,000 after purchasing an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC raised its stake in HubSpot by 1,840.0% in the first quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after purchasing an additional 92 shares in the last quarter. Oppenheimer & Co. Inc. bought a new stake in HubSpot during the first quarter valued at approximately $235,000. Finally, Amalgamated Bank grew its stake in HubSpot by 6.9% in the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock worth $1,991,000 after buying an additional 226 shares in the last quarter. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

HUBS opened at $439.72 on Friday. The stock has a market capitalization of $23.17 billion, a PE ratio of -1,911.83, a price-to-earnings-growth ratio of 14.81 and a beta of 1.66. The stock's 50 day moving average price is $530.83 and its 200-day moving average price is $602.32. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Canaccord Genuity Group lowered their price objective on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research report on Thursday, August 7th. Cantor Fitzgerald initiated coverage on HubSpot in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price target on the stock. Oppenheimer upped their price objective on HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a report on Friday, May 9th. The Goldman Sachs Group reduced 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. Finally, KeyCorp dropped their target price on HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. Three equities research analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $726.04.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 2,383 shares of the 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 $1,314,915.57. Following the completion of the transaction, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. The trade was a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 over the last 90 days. 4.00% of the stock is owned by company insiders.

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.

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