State of New Jersey Common Pension Fund D Has $9.32 Million Stock Holdings in HubSpot, Inc. $HUBS

Key Points

• The State of New Jersey Common Pension Fund D has reduced its stake in HubSpot, Inc. by 7.9%, now holding 16,307 shares valued at $9.32 million.
• Recent trading activity indicates significant insider selling, including CFO Kathryn Bueker and Director Brian Halligan, who sold shares worth approximately $5 million combined.
• Analysts have adjusted price targets for HubSpot stock, with a range of $650 to $900 and an overall rating of "Moderate Buy" from equities research analysts.

State of New Jersey Common Pension Fund D cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 7.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,307 shares of the software maker's stock after selling 1,407 shares during the period. State of New Jersey Common Pension Fund D's holdings in HubSpot were worth $9,316,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its stake in HubSpot by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker's stock valued at $861,000 after buying an additional 16 shares in the last quarter. WCM Investment Management LLC lifted its position in shares of HubSpot by 0.6% in the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker's stock worth $1,553,000 after purchasing an additional 17 shares in the last quarter. Yousif Capital Management LLC lifted its position in shares of HubSpot by 3.0% in the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker's stock worth $378,000 after purchasing an additional 19 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of HubSpot by 3.5% in the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker's stock worth $334,000 after purchasing an additional 20 shares in the last quarter. Finally, Apollon Wealth Management LLC lifted its position in shares of HubSpot by 5.2% in the first quarter. Apollon Wealth Management LLC now owns 405 shares of the software maker's stock worth $231,000 after purchasing an additional 20 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Kathryn Bueker sold 615 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the transaction, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Yamini Rangan sold 2,383 shares of the firm's stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction 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 represents a 3.59% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is owned by corporate insiders.

HubSpot Stock Performance

Shares of HubSpot stock traded up $2.2390 during midday trading on Thursday, reaching $455.9290. 929,023 shares of the company's stock traded hands, compared to its average volume of 735,980. The company has a market cap of $24.02 billion, a price-to-earnings ratio of -1,982.30, a price-to-earnings-growth ratio of 15.27 and a beta of 1.66. The company's 50 day simple moving average is $522.50 and its 200 day simple moving average is $595.52. 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 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. The business had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. HubSpot's revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.94 EPS. As a group, equities research analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on HUBS shares. Raymond James Financial reduced their price target on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. KeyCorp reduced their price target on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating for the company in a research report on Thursday, August 7th. BMO Capital Markets reduced their price target on shares of HubSpot from $650.00 to $600.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Wells Fargo & Company increased their price target on shares of HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. 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 research note on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average 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.