Quantitative Investment Management LLC Buys Shares of 3,760 HubSpot, Inc. $HUBS

Key Points

• Quantitative Investment Management LLC acquired a new position in HubSpot, purchasing 3,760 shares valued at approximately $2.15 million in the first quarter.
• Several institutional investors modified their holdings in HubSpot, leading to a significant 90.39% of the company's stock now being owned by institutional investors and hedge funds.
• HubSpot's recent performance showed a positive earnings report, with $2.19 EPS exceeding analysts' expectations, and a year-over-year revenue increase of 19.4%.

Quantitative Investment Management LLC acquired a new position in HubSpot, Inc. (NYSE:HUBS - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 3,760 shares of the software maker's stock, valued at approximately $2,148,000.

A number of other hedge funds also recently modified their holdings of HUBS. Price T Rowe Associates Inc. MD lifted its position in shares of HubSpot by 17.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker's stock worth $2,805,070,000 after acquiring an additional 714,980 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of HubSpot by 37.3% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker's stock worth $530,115,000 after acquiring an additional 251,853 shares during the period. Vanguard Group Inc. lifted its position in shares of HubSpot by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker's stock worth $2,997,407,000 after acquiring an additional 201,994 shares during the period. GAMMA Investing LLC lifted its position in shares of HubSpot by 80,552.5% in the 1st quarter. GAMMA Investing LLC now owns 178,242 shares of the software maker's stock worth $1,018,280,000 after acquiring an additional 178,021 shares during the period. Finally, Nuveen LLC bought a new stake in shares of HubSpot in the 1st quarter worth approximately $99,963,000. Institutional investors own 90.39% of the company's stock.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the sale, the director directly owned 522,435 shares of the company's stock, valued at approximately $235,012,160.40. This trade represents a 1.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,498 shares of company stock valued at $14,752,256. Company insiders own 4.00% of the company's stock.

HubSpot Stock Up 1.5%

HUBS stock traded up $6.95 during midday trading on Thursday, reaching $476.43. 870,050 shares of the company's stock traded hands, compared to its average volume of 738,458. The company has a 50-day simple moving average of $512.28 and a two-hundred day simple moving average of $582.68. HubSpot, Inc. has a 1-year low of $418.34 and a 1-year high of $881.13. The company has a market cap of $25.10 billion, a price-to-earnings ratio of -2,071.41, a PEG ratio of 15.76 and a beta of 1.66.

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 analysts' consensus estimates of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The firm had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. During the same period last year, the firm posted $1.94 EPS. The business's revenue was up 19.4% on a year-over-year basis. Equities research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the company. Piper Sandler upgraded HubSpot from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $645.00 to $675.00 in a research report on Thursday, August 7th. Morgan Stanley raised their target price on HubSpot from $659.00 to $752.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Truist Financial cut their target price on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Needham & Company LLC reissued a "buy" rating and set a $900.00 price objective on shares of HubSpot in a report on Friday, May 9th. Finally, BMO Capital Markets cut their price objective on HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $726.04.

HubSpot Company 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.