Sumitomo Mitsui DS Asset Management Company Ltd Acquires 658 Shares of HubSpot, Inc. $HUBS

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in HubSpot, Inc. by 15.1% during the second quarter, owning a total of 5,027 shares worth approximately $2.8 million.
• Multiple institutional investors boosted their holdings in HubSpot, with Massachusetts Financial Services Co. increasing its stake by 37.3% in the first quarter.
• HubSpot reported earnings of $2.19 per share for the last quarter, surpassing analysts' expectations, with a 19.4% increase in revenue year-over-year.

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,027 shares of the software maker's stock after purchasing an additional 658 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in HubSpot were worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. 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 valued at $34,000 after buying an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of HubSpot in the 1st quarter worth about $35,000. Clean Yield Group acquired a new stake in shares of HubSpot during the 1st quarter worth about $41,000. GW&K Investment Management LLC increased its position in shares of HubSpot by 203.8% during the 1st quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock worth $45,000 after purchasing an additional 53 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new stake in shares of HubSpot during the 1st quarter worth about $46,000. 90.39% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Kathryn Bueker sold 119 shares of HubSpot stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.00, for a total transaction of $59,500.00. Following the sale, the chief financial officer directly owned 40,563 shares of the company's stock, valued at approximately $20,281,500. The trade was a 0.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total value of $2,381,095.20. Following the completion of the transaction, the chief technology officer owned 1,271,058 shares of the company's stock, valued at $637,562,692.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,094 shares of company stock valued at $25,716,404. 4.00% of the stock is owned by corporate insiders.

HubSpot Stock Performance

HUBS traded down $10.21 on Tuesday, reaching $512.77. The company had a trading volume of 214,515 shares, compared to its average volume of 737,341. The company's fifty day moving average is $493.86 and its 200 day moving average is $551.46. The stock has a market cap of $27.02 billion, a P/E ratio of -2,229.36, a P/E/G ratio of 17.93 and a beta of 1.58. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.07. The firm had revenue of $760.87 million for the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $1.94 EPS. On average, sell-side analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUBS. Canaccord Genuity Group dropped their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Needham & Company LLC reaffirmed a "buy" rating and issued a $900.00 price objective on shares of HubSpot in a research note on Thursday, September 4th. UBS Group reiterated an "outperform" rating on shares of HubSpot in a report on Wednesday, September 3rd. Piper Sandler began coverage on shares of HubSpot in a research report on Thursday, September 4th. They set an "overweight" rating and a $675.00 price target on the stock. Finally, Citigroup lowered their price objective on shares of HubSpot from $700.00 to $650.00 and set a "buy" rating for the company in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $722.93.

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.