Raymond James Financial Inc. Acquires 20,460 Shares of HubSpot, Inc. $HUBS

Key Points

• Raymond James Financial Inc. has increased its stake in HubSpot, Inc. by 9.1%, acquiring an additional 20,460 shares during the first quarter, bringing its total ownership to 245,813 shares valued at approximately $140 million.
• HubSpot reported a quarterly earnings per share of $2.19, exceeding analysts' expectations, alongside a revenue increase of 19.4% year-over-year, amounting to $760.87 million.
• Despite recent fluctuations in price targets from several analysts, HubSpot maintains a consensus rating of "Moderate Buy" with an average price target of $726.04.

Raymond James Financial Inc. grew its stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 9.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 245,813 shares of the software maker's stock after acquiring an additional 20,460 shares during the quarter. Raymond James Financial Inc. owned about 0.47% of HubSpot worth $140,431,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Elequin Capital LP acquired a new position in shares of HubSpot during the 4th quarter worth $27,000. Coppell Advisory Solutions LLC raised its holdings in shares of HubSpot by 91.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after buying an additional 22 shares in the last quarter. Cullen Frost Bankers Inc. raised its holdings in shares of HubSpot by 130.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after buying an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of HubSpot during the 1st quarter worth $35,000. Finally, Colonial Trust Co SC raised its holdings 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 worth $40,000 after buying an additional 30 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

HUBS has been the subject of a number of research analyst reports. Morgan Stanley boosted 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. Citigroup lowered their target price on HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a report on Friday, August 8th. BMO Capital Markets lowered their target price on HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Raymond James Financial lowered their target price on HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Stifel Nicolaus lowered their target price on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a report on Monday, July 14th. One 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 company. According to data from MarketBeat, HubSpot currently has an average rating of "Moderate Buy" and a consensus target price of $726.04.

Insider Activity

In other news, CEO Yamini Rangan sold 2,383 shares of the firm's 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 transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. This trade represents a 3.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $449.84, for a total value of $3,823,640.00. Following the completion of the transaction, the director owned 522,435 shares in the company, valued at $235,012,160.40. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,498 shares of company stock worth $14,752,256 over the last 90 days. 4.00% of the stock is currently owned by corporate insiders.

HubSpot Stock Up 4.0%

NYSE:HUBS traded up $18.2580 on Friday, hitting $474.2280. The stock had a trading volume of 895,886 shares, compared to its average volume of 737,009. The business's fifty day moving average is $520.24 and its 200 day moving average is $593.38. The company has a market cap of $24.99 billion, a PE ratio of -2,061.86, a P/E/G ratio of 15.63 and a beta of 1.66. 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 announced its quarterly earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.12 by $0.07. The business 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%.The company's quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.94 earnings per share. Equities analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

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.