Norris Perne & French LLP MI Sells 752 Shares of HubSpot, Inc. (NYSE:HUBS)

Norris Perne & French LLP MI lowered its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,633 shares of the software maker's stock after selling 752 shares during the period. Norris Perne & French LLP MI owned 0.06% of HubSpot worth $19,214,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of HUBS. Empowered Funds LLC increased its holdings in HubSpot by 3.1% in the 4th quarter. Empowered Funds LLC now owns 833 shares of the software maker's stock worth $580,000 after acquiring an additional 25 shares during the last quarter. Congress Asset Management Co. bought a new position in HubSpot during the fourth quarter worth about $241,000. Principal Securities Inc. increased its stake in shares of HubSpot by 17.2% in the fourth quarter. Principal Securities Inc. now owns 116 shares of the software maker's stock worth $81,000 after purchasing an additional 17 shares in the last quarter. Allworth Financial LP raised its position in shares of HubSpot by 14.6% in the fourth quarter. Allworth Financial LP now owns 149 shares of the software maker's stock valued at $109,000 after purchasing an additional 19 shares during the period. Finally, J.W. Cole Advisors Inc. raised its position in shares of HubSpot by 10.2% in the fourth quarter. J.W. Cole Advisors Inc. now owns 704 shares of the software maker's stock valued at $491,000 after purchasing an additional 65 shares during the period. Institutional investors own 90.39% of the company's stock.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 680 shares of the stock in a transaction on Thursday, April 24th. The shares were sold at an average price of $600.00, for a total transaction of $408,000.00. Following the transaction, the chief executive officer now owns 71,693 shares of the company's stock, valued at approximately $43,015,800. This trade represents a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the completion of the sale, the insider now directly owns 525,687 shares of the company's stock, valued at $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,562 shares of company stock worth $6,353,177 in the last quarter. 4.50% of the stock is owned by insiders.

HubSpot Trading Down 2.1%

HUBS opened at $543.20 on Thursday. The stock has a market capitalization of $28.65 billion, a P/E ratio of -1,207.12, a PEG ratio of 20.16 and a beta of 1.70. The stock has a 50-day moving average price of $597.91 and a 200-day moving average price of $659.21. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13.

Analyst Upgrades and Downgrades

Several research analysts recently commented on HUBS shares. UBS Group raised their price objective on shares of HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Morgan Stanley raised their price target on HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Wall Street Zen lowered HubSpot from a "buy" rating to a "hold" rating in a research note on Sunday. Raymond James Financial reissued an "outperform" rating and set a $825.00 price objective (down previously from $980.00) on shares of HubSpot in a report on Friday, May 9th. Finally, Mizuho reduced their target price on HubSpot from $900.00 to $700.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Five investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target 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.

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