Swedbank AB Trims Holdings in HubSpot, Inc. $HUBS

Key Points

• Swedbank AB has reduced its holdings in HubSpot, Inc. by 7.3%, now owning 25,223 shares worth approximately $14.41 million.
• HubSpot reported earnings of $2.19 per share for the last quarter, surpassing estimates and marking a 19.4% year-over-year revenue growth to $760.87 million.
• Analysts have lowered price targets for HubSpot, with BMO Capital Markets reducing theirs from $650.00 to $600.00, while the average target price now stands at $722.93.

Swedbank AB decreased its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 7.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,223 shares of the software maker's stock after selling 1,983 shares during the period. Swedbank AB's holdings in HubSpot were worth $14,410,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of HUBS. Elequin Capital LP purchased a new stake in HubSpot in the fourth quarter worth $27,000. Cullen Frost Bankers Inc. increased its stake in shares of 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 buying an additional 34 shares during the period. N.E.W. Advisory Services LLC purchased a new position in shares of HubSpot during the first quarter valued at $35,000. Clean Yield Group purchased a new position in shares of HubSpot during the first quarter valued at $41,000. Finally, GW&K Investment Management LLC increased its stake in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker's stock valued at $45,000 after buying an additional 53 shares during the period. Hedge funds and other institutional investors own 90.39% of the company's stock.

HubSpot Price Performance

HUBS opened at $493.10 on Monday. The business's 50-day moving average is $498.16 and its two-hundred day moving average is $558.68. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The firm has a market capitalization of $25.98 billion, a PE ratio of -2,143.91, a price-to-earnings-growth ratio of 16.93 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last posted its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same quarter in the previous year, the firm earned $1.94 earnings per share. The firm's quarterly revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts expect that HubSpot, Inc. will post 1.01 EPS for the current year.

Analysts Set New Price Targets

HUBS has been the topic of several research reports. BMO Capital Markets cut their price target on HubSpot from $650.00 to $600.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. Macquarie cut their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a research note on Thursday, August 7th. KeyCorp cut their price target on HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a research note on Thursday, August 7th. Canaccord Genuity Group cut their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating on the stock in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, HubSpot currently has an average rating of "Moderate Buy" and an average target price of $722.93.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 477 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $500.00, for a total value of $238,500.00. Following the completion of the sale, the chief executive officer owned 62,291 shares of the company's stock, valued at approximately $31,145,500. This trade represents a 0.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 119 shares of the firm's stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $500.00, for a total value of $59,500.00. Following the completion of the sale, the chief financial officer directly owned 40,563 shares of the company's stock, valued at approximately $20,281,500. This represents a 0.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 51,094 shares of company stock worth $26,069,239 in the last three months. Insiders own 4.00% of the company's stock.

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.

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