Voloridge Investment Management LLC acquired a new stake in shares of HubSpot, Inc. (NYSE:HUBS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 49,250 shares of the software maker's stock, valued at approximately $34,316,000. Voloridge Investment Management LLC owned 0.10% of HubSpot at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in the stock. Waverly Advisors LLC purchased a new stake in shares of HubSpot in the 4th quarter worth about $233,000. Worldquant Millennium Advisors LLC grew its position in shares of HubSpot by 27.4% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 8,632 shares of the software maker's stock worth $6,015,000 after buying an additional 1,856 shares during the period. Woodline Partners LP purchased a new stake in shares of HubSpot in the 4th quarter worth about $30,009,000. Zurich Insurance Group Ltd FI purchased a new stake in shares of HubSpot in the 4th quarter worth about $43,778,000. Finally, Sovereign s Capital Management LLC purchased a new stake in shares of HubSpot in the 4th quarter worth about $1,224,000. 90.39% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other HubSpot news, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the sale, the insider now owns 527,233 shares in the company, valued at approximately $320,283,502.84. This trade represents a 1.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Yamini Rangan sold 680 shares of the firm's stock in a transaction that occurred on Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 71,693 shares in the company, valued at approximately $43,015,800. The trade was a 0.94% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,062 shares of company stock valued at $11,516,757. 4.50% of the stock is owned by insiders.
Wall Street Analyst Weigh In
HUBS has been the topic of a number of recent research reports. Truist Financial reduced their target price on shares of HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Oppenheimer increased their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Scotiabank cut their price objective on shares of HubSpot from $900.00 to $750.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. Raymond James reissued an "outperform" rating and set a $825.00 price objective (down from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Finally, Citigroup increased their price objective on shares of HubSpot from $750.00 to $759.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $767.33.
Check Out Our Latest Report on HUBS
HubSpot Price Performance
Shares of HUBS traded up $8.52 on Tuesday, reaching $623.44. The company's stock had a trading volume of 92,696 shares, compared to its average volume of 620,889. The stock has a market capitalization of $32.88 billion, a P/E ratio of 6,928.88, a PEG ratio of 41.44 and a beta of 1.78. The stock's 50 day simple moving average is $590.80 and its two-hundred day simple moving average is $673.04. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $881.13.
HubSpot Profile
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Free Report)
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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