HubSpot, Inc. $HUBS Shares Bought by Royal Bank of Canada

Key Points

• Royal Bank of Canada increased its stake in HubSpot by 36.6%, acquiring 49,917 shares in the first quarter, bringing its total to 186,213 shares valued at approximately $106.4 million.
• HubSpot's quarterly revenue rose by 19.4% year-over-year, reporting $760.87 million with an earnings per share (EPS) of $2.19, exceeding analysts' expectations.
• Analysts have mixed ratings for HubSpot, with a consensus rating of "Moderate Buy" and an average price target of $722.93, reflecting varied confidence in the company's stock performance.

Royal Bank of Canada boosted its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 36.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 186,213 shares of the software maker's stock after buying an additional 49,917 shares during the period. Royal Bank of Canada owned 0.35% of HubSpot worth $106,382,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Elequin Capital LP bought a new position in HubSpot in the 4th quarter valued at about $27,000. Cullen Frost Bankers Inc. lifted its position in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in HubSpot during the first quarter valued at approximately $35,000. Colonial Trust Co SC lifted its stake in HubSpot by 111.1% in the 4th quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock valued at $40,000 after buying an additional 30 shares in the last quarter. Finally, Clean Yield Group purchased a new stake in shares of HubSpot during the first quarter worth $41,000. Institutional investors and hedge funds own 90.39% of the company's stock.

Insiders Place Their Bets

In related news, 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 sale, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This trade represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction 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 represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,498 shares of company stock worth $14,752,256 in the last three months. Corporate insiders own 4.00% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on HUBS. Stifel Nicolaus decreased 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. Piper Sandler assumed coverage on shares of HubSpot in a report on Thursday. They set an "overweight" rating and a $675.00 target price on the stock. Canaccord Genuity Group lowered their price target on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Citigroup cut their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a report on Friday, August 8th. Finally, JPMorgan Chase & Co. lowered their target price on HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $722.93.

HubSpot Price Performance

NYSE HUBS traded up $13.20 during trading hours on Monday, hitting $500.73. 606,658 shares of the company's stock traded hands, compared to its average volume of 741,909. The company has a market capitalization of $26.38 billion, a PE ratio of -2,178.13, a PEG ratio of 16.80 and a beta of 1.58. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The firm's 50-day moving average is $504.15 and its 200-day moving average is $566.55.

HubSpot (NYSE:HUBS - Get Free Report) last announced its earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, topping the consensus estimate of $2.12 by $0.07. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. During the same period last year, the company posted $1.94 earnings per share. The business's revenue for the quarter was up 19.4% on a year-over-year basis. Equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

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.