TD Asset Management Inc Boosts Holdings in HubSpot, Inc. (NYSE:HUBS)

Key Points

• TD Asset Management Inc increased its stake in HubSpot, Inc. by 5.5% during the first quarter, acquiring an additional 3,030 shares to own a total of 57,976 shares valued at approximately $33.1 million.
• HubSpot's stock has seen varying analyst ratings, with Oppenheimer raising its target price to $750.00 and Needham & Company maintaining a strong buy with a target of $900.00.
• Insiders have sold a significant amount of HubSpot stock recently, with the CFO and CEO both reducing their holdings, collectively selling shares valued over $1.6 million.

TD Asset Management Inc grew its holdings in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) by 5.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,976 shares of the software maker's stock after buying an additional 3,030 shares during the quarter. TD Asset Management Inc owned approximately 0.11% of HubSpot worth $33,121,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in HubSpot in the 1st quarter valued at about $749,000. Nvwm LLC bought a new stake in HubSpot in the 1st quarter valued at about $896,000. Skandinaviska Enskilda Banken AB publ boosted its holdings in HubSpot by 64.4% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 27,489 shares of the software maker's stock valued at $15,704,000 after purchasing an additional 10,767 shares during the period. Stevens Capital Management LP bought a new stake in HubSpot in the 1st quarter valued at about $298,000. Finally, Freemont Management S.A. bought a new stake in HubSpot in the 1st quarter valued at about $4,170,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of recent research reports. Oppenheimer boosted their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Needham & Company LLC reaffirmed a "buy" rating and set a $900.00 price target on shares of HubSpot in a report on Friday, May 9th. Wells Fargo & Company cut their price target on shares of HubSpot from $700.00 to $675.00 and set an "overweight" rating for the company in a report on Monday, June 9th. Citigroup upped their price target on shares of HubSpot from $750.00 to $759.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, BMO Capital Markets cut their price target on shares of HubSpot from $735.00 to $650.00 and set an "outperform" rating for the company in a report on Friday, July 18th. Five equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $759.04.

Insider Buying and Selling

In related news, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. This represents a 1.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, July 15th. The shares were 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 owned 522,435 shares of the company's stock, valued at approximately $283,718,775.45. This trade represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 in the last quarter. Insiders own 4.50% of the company's stock.

HubSpot Stock Down 3.8%

NYSE:HUBS traded down $19.74 during trading hours on Friday, reaching $499.92. The company had a trading volume of 270,049 shares, compared to its average volume of 685,863. The firm has a market cap of $26.37 billion, a price-to-earnings ratio of -1,110.92, a P/E/G ratio of 19.58 and a beta of 1.66. The business's 50-day simple moving average is $562.51 and its two-hundred day simple moving average is $622.76. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $881.13.

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.