Renaissance Technologies LLC Makes New Investment in HubSpot, Inc. $HUBS

Key Points

• Renaissance Technologies purchased 169,740 HubSpot shares worth approximately $41.4 million, while institutional investors and hedge funds collectively owned 90.39% of the company.
• Analyst sentiment remains a “Moderate Buy”, but several firms recently downgraded HubSpot or reduced price targets; the consensus target is $307.86.
• HubSpot’s latest quarterly results exceeded expectations, with adjusted EPS of $2.72 versus a $2.47 estimate and revenue of $881 million, up 23.4% year over year.

Renaissance Technologies LLC purchased a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 169,740 shares of the software maker's stock, valued at approximately $41,434,000. Renaissance Technologies LLC owned approximately 0.33% of HubSpot at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Geode Capital Management LLC increased its position in HubSpot by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 971,712 shares of the software maker's stock worth $388,917,000 after buying an additional 14,159 shares in the last quarter. OFI Invest Asset Management raised its holdings in shares of HubSpot by 130.2% in the fourth quarter. OFI Invest Asset Management now owns 99,622 shares of the software maker's stock worth $39,978,000 after acquiring an additional 56,348 shares during the last quarter. Slow Capital Inc. lifted its position in shares of HubSpot by 35.9% in the fourth quarter. Slow Capital Inc. now owns 18,615 shares of the software maker's stock valued at $7,470,000 after acquiring an additional 4,913 shares in the last quarter. Havemeyer Place LP purchased a new stake in shares of HubSpot in the fourth quarter valued at $2,044,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of HubSpot by 65.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,583 shares of the software maker's stock valued at $17,891,000 after acquiring an additional 17,713 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Yamini Rangan purchased 2,750 shares of HubSpot stock in a transaction dated Tuesday, May 12th. The stock was bought at an average price of $189.84 per share, with a total value of $522,060.00. Following the completion of the acquisition, the chief executive officer owned 102,982 shares in the company, valued at $19,550,102.88. The trade was a 2.74% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Erika Ashley Fisher sold 915 shares of the business's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $236.66, for a total transaction of $216,543.90. Following the transaction, the insider directly owned 16,270 shares of the company's stock, valued at $3,850,458.20. The trade was a 5.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders purchased 14,063 shares of company stock valued at $2,585,781 and sold 17,915 shares valued at $3,654,114. Company insiders own 3.70% of the company's stock.

Analyst Ratings Changes

HUBS has been the subject of a number of recent research reports. Cantor Fitzgerald cut HubSpot from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $325.00 to $200.00 in a research report on Friday, May 8th. Morgan Stanley reduced their target price on shares of HubSpot from $405.00 to $350.00 and set an "overweight" rating on the stock in a report on Friday, May 8th. BNP Paribas Exane downgraded shares of HubSpot from an "outperform" rating to a "neutral" rating and set a $210.00 price target for the company. in a report on Monday, May 11th. KeyCorp cut their price objective on shares of HubSpot from $340.00 to $290.00 and set an "overweight" rating for the company in a research report on Friday, May 8th. Finally, Bank of America restated an "underperform" rating and set a $180.00 target price (down from $300.00) on shares of HubSpot in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, five have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $307.86.

HubSpot Trading Up 9.1%

NYSE HUBS opened at $223.57 on Tuesday. The stock has a market cap of $11.45 billion, a P/E ratio of 117.05, a PEG ratio of 2.24 and a beta of 1.22. The company's fifty day simple moving average is $201.15 and its 200-day simple moving average is $236.27. HubSpot, Inc. has a 52 week low of $169.63 and a 52 week high of $568.16.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The software maker reported $2.72 EPS for the quarter, topping the consensus estimate of $2.47 by $0.25. The business had revenue of $881.00 million for the quarter, compared to analysts' expectations of $863.32 million. HubSpot had a return on equity of 5.66% and a net margin of 3.04%.The company's revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.84 earnings per share. HubSpot has set its Q2 2026 guidance at 3.000-3.020 EPS and its FY 2026 guidance at 13.040-13.120 EPS. On average, research analysts expect that HubSpot, Inc. will post 4.39 EPS for the current fiscal year.

HubSpot Profile

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company's product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.

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