OVERSEA CHINESE BANKING Corp Ltd Sells 11,586 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd reduced its stake in HubSpot, Inc. by 64.9%, selling 11,586 shares and holding 6,274 shares worth approximately $3.58 million by the end of the first quarter.
• Institutional investors continue to show interest in HubSpot, with several hedge funds increasing their stakes dramatically during the fourth quarter, and 90.39% of the stock is now owned by institutional players.
• HubSpot's stock has fluctuated significantly, with a 52-week high of $881.13 and a low of $434.84, currently trading around $498.33 as analysts provide a consensus rating of "Moderate Buy" with an average target price of $759.04.

OVERSEA CHINESE BANKING Corp Ltd decreased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 64.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,274 shares of the software maker's stock after selling 11,586 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in HubSpot were worth $3,584,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in HUBS. Private Trust Co. NA raised its position in shares of HubSpot by 481.5% in the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after purchasing an additional 130 shares during the period. Principal Financial Group Inc. raised 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 valued at $16,427,000 after purchasing an additional 1,276 shares during the period. Golden State Wealth Management LLC raised its position in shares of 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 during the period. Oppenheimer & Co. Inc. bought a new stake in shares of HubSpot in the first quarter valued at approximately $235,000. Finally, Amalgamated Bank raised its position in shares of HubSpot by 6.9% in the first quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after purchasing an additional 226 shares during the period. Institutional investors own 90.39% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on HUBS shares. Scotiabank lowered their price target on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. Truist Financial lowered their price target on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. BNP Paribas assumed coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They issued an "outperform" rating and a $700.00 price target on the stock. UBS Group upped their target price on shares of HubSpot from $675.00 to $820.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, BMO Capital Markets decreased their target price on shares of HubSpot from $735.00 to $650.00 and set an "outperform" rating on the stock in a report on Friday, July 18th. Five analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $759.04.

HubSpot Stock Down 1.2%

Shares of HubSpot stock traded down $6.19 during trading on Tuesday, reaching $496.01. The company's stock had a trading volume of 124,036 shares, compared to its average volume of 687,184. HubSpot, Inc. has a 52-week low of $448.46 and a 52-week high of $881.13. The company has a market cap of $26.16 billion, a price-to-earnings ratio of -1,099.16, a PEG ratio of 18.13 and a beta of 1.66. The firm's 50-day moving average is $557.95 and its two-hundred day moving average is $618.66.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of the company's stock in a transaction 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 sale, the director owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. This represents a 1.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the completion of the sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,998 shares of company stock valued at $10,928,616. Corporate insiders own 4.50% 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.