Russell Investments Group Ltd. Sells 132,449 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Russell Investments Group Ltd. sold 132,449 shares of HubSpot, reducing its holdings by 72.7%, leaving it with 49,739 shares valued at approximately $28.4 million.
• Analysts have mixed opinions on HubSpot, with Goldman Sachs lowering its price target from $900 to $795 while others, like Wells Fargo, increased theirs from $675 to $680, indicating a range of "buy" and "overweight" ratings.
• Insider selling occurred, with CEO Yamini Rangan and Director Brian Halligan selling shares totaling nearly $6 million, despite their remaining strong positions in the company.

Russell Investments Group Ltd. lessened its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 72.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,739 shares of the software maker's stock after selling 132,449 shares during the period. Russell Investments Group Ltd. owned 0.09% of HubSpot worth $28,438,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of HUBS. Elequin Capital LP bought a new position in HubSpot in the 4th quarter worth about $27,000. Coppell Advisory Solutions LLC boosted its stake in HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after purchasing an additional 22 shares in the last quarter. Cullen Frost Bankers Inc. boosted its stake 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 purchasing an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC bought a new position in HubSpot in the 1st quarter worth about $35,000. Finally, Colonial Trust Co SC boosted 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 worth $40,000 after purchasing an additional 30 shares in the last quarter. Institutional investors own 90.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. The Goldman Sachs Group dropped their price target on shares of HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. Wells Fargo & Company upped their price target on shares of HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Wall Street Zen upgraded shares of HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Macquarie dropped their price target on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Finally, BNP Paribas started coverage on shares of HubSpot in a research note on Tuesday, April 22nd. They set an "outperform" rating and a $700.00 target price on the stock. Three analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $726.04.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 2,383 shares of the 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 sale, the chief executive officer directly owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the completion of the sale, the director directly owned 522,435 shares of the company's stock, valued at $283,718,775.45. This represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,998 shares of company stock valued at $10,928,616. 4.00% of the stock is owned by corporate insiders.

HubSpot Stock Up 2.3%

NYSE HUBS opened at $439.72 on Friday. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The firm has a market capitalization of $23.17 billion, a P/E ratio of -1,911.83, a PEG ratio of 14.81 and a beta of 1.66. The company has a 50-day moving average price of $530.83 and a 200-day moving average price of $602.32.

HubSpot (NYSE:HUBS - Get Free Report) last released its 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 company had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.94 EPS. As a group, equities research analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current year.

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.

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