Panagora Asset Management Inc. Purchases 9,553 Shares of HubSpot, Inc. $HUBS

Key Points

• Panagora Asset Management Inc. increased its holdings in HubSpot by 8.7% during the first quarter, owning approximately 0.23% of the company, valued at around $68.35 million.
• Several large investors, including Venturi Wealth Management and WCM Investment Management, also raised their positions in HubSpot during the same period, indicating strong institutional interest in the stock.
• HubSpot reported a revenue increase of 19.4% year-over-year, with a quarterly EPS of $2.19, exceeding expectations, as analysts continue to maintain a generally positive outlook on the company's stock.

Panagora Asset Management Inc. increased its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 119,635 shares of the software maker's stock after purchasing an additional 9,553 shares during the quarter. Panagora Asset Management Inc. owned approximately 0.23% of HubSpot worth $68,346,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Elequin Capital LP bought a new position in shares of HubSpot in the fourth quarter worth about $27,000. Colonial Trust Co SC grew its stake in shares of HubSpot by 111.1% during the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock valued at $40,000 after acquiring an additional 30 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 acquiring an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in HubSpot during the 1st quarter worth approximately $35,000. Finally, Clean Yield Group purchased a new position in HubSpot during the first quarter valued at approximately $41,000. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

HUBS stock traded down $12.08 during trading on Tuesday, hitting $471.09. 628,205 shares of the company's stock traded hands, compared to its average volume of 738,271. The business has a fifty day simple moving average of $508.47 and a 200 day simple moving average of $574.48. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The stock has a market capitalization of $24.82 billion, a price-to-earnings ratio of -2,048.22, a P/E/G ratio of 16.65 and a beta of 1.58.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on HUBS. Oppenheimer increased their price objective on shares of HubSpot from $700.00 to $750.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Morgan Stanley upped their target price on shares of HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Stifel Nicolaus cut their price target on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research note on Monday, July 14th. 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. Finally, Cantor Fitzgerald assumed coverage on HubSpot in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $775.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $726.04.

Insider Buying and Selling at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The shares were 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 $35,269,313.22. The trade was a 3.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer directly owned 41,086 shares in the company, valued at $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,498 shares of company stock valued at $14,752,256 in the last ninety days. Corporate insiders own 4.00% of the company's stock.

HubSpot Profile

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.