Wellington Management Group LLP Sells 44,552 Shares of HubSpot, Inc. $HUBS

Key Points

• Wellington Management Group LLP reduced its holdings in HubSpot, Inc. by 3.0% in the first quarter, now owning 1,432,638 shares valued at approximately $818.45 million.
• Insider trading activity reveals that both the CEO and CFO sold shares recently, with CEO Yamini Rangan selling 2,383 shares for about $1.31 million, indicating a decrease in their ownership.
• HubSpot's stock has a market cap of $23.64 billion and reported a 19.4% year-over-year revenue increase with earnings per share of $2.19 in the latest quarter, surpassing estimates.

Wellington Management Group LLP decreased its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,432,638 shares of the software maker's stock after selling 44,552 shares during the period. Wellington Management Group LLP owned approximately 2.72% of HubSpot worth $818,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBS. Elequin Capital LP bought a new position in shares of HubSpot in the 4th quarter valued at about $27,000. Coppell Advisory Solutions LLC grew its holdings in HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker's stock worth $32,000 after purchasing an additional 22 shares during the period. Cullen Frost Bankers Inc. grew its holdings in HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker's stock worth $34,000 after purchasing an additional 34 shares during the period. N.E.W. Advisory Services LLC bought a new position in HubSpot during the first quarter worth about $35,000. Finally, Colonial Trust Co SC grew its holdings in HubSpot by 111.1% during the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker's stock worth $40,000 after purchasing an additional 30 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Trading Up 4.0%

NYSE HUBS traded up $18.2580 during trading on Friday, reaching $474.2280. The company's stock had a trading volume of 895,937 shares, compared to its average volume of 1,065,703. The firm has a 50 day moving average price of $518.67 and a 200 day moving average price of $591.38. The firm has a market capitalization of $24.99 billion, a price-to-earnings ratio of -2,061.86, a price-to-earnings-growth ratio of 15.71 and a beta of 1.66. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last issued its earnings results on Wednesday, August 6th. The software maker reported $2.19 EPS for the quarter, beating the consensus estimate of $2.12 by $0.07. The company had revenue of $760.87 million during the quarter, compared to analysts' expectations of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.94 EPS. On average, equities analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity

In related news, CFO Kathryn Bueker sold 615 shares of the company's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer directly 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 document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was 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 of the company's stock, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,498 shares of company stock worth $14,752,256. 4.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on HUBS. UBS Group reduced their price target on HubSpot from $820.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. Truist Financial reduced their price target on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a report on Thursday, August 7th. JPMorgan Chase & Co. reduced their price target on HubSpot from $775.00 to $675.00 and set an "overweight" rating for the company in a report on Thursday, August 7th. Macquarie reduced their target price on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a report on Thursday, August 7th. Finally, Canaccord Genuity Group reduced their target price on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a report on Thursday, August 7th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $726.04.

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.