Zevenbergen Capital Investments LLC Acquires 3,350 Shares of HubSpot, Inc. (NYSE:HUBS)

Key Points

• Zevenbergen Capital Investments LLC increased its stake in HubSpot, acquiring 3,350 additional shares, leading to a total holding of 41,465 shares valued at approximately $23.69 million.
• HubSpot reported earnings of $2.19 EPS for the quarter, beating expectations, with a revenue increase of 19.4% year-over-year.
• Analysts have adjusted their price targets for HubSpot, with Jefferies Financial Group lowering its target from $900 to $700, while maintaining a "buy" rating.

Zevenbergen Capital Investments LLC raised its holdings in HubSpot, Inc. (NYSE:HUBS - Free Report) by 8.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 41,465 shares of the software maker's stock after acquiring an additional 3,350 shares during the quarter. Zevenbergen Capital Investments LLC owned about 0.08% of HubSpot worth $23,689,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Highview Capital Management LLC DE raised its holdings in HubSpot by 4.5% in the fourth quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock worth $2,098,000 after purchasing an additional 129 shares during the period. Cerity Partners LLC raised its holdings in HubSpot by 21.4% in the fourth quarter. Cerity Partners LLC now owns 6,569 shares of the software maker's stock worth $4,321,000 after purchasing an additional 1,160 shares during the period. Treasurer of the State of North Carolina raised its holdings in HubSpot by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 21,487 shares of the software maker's stock worth $14,971,000 after purchasing an additional 130 shares during the period. Covestor Ltd raised its holdings in HubSpot by 65.8% in the fourth quarter. Covestor Ltd now owns 194 shares of the software maker's stock worth $135,000 after purchasing an additional 77 shares during the period. Finally, SageView Advisory Group LLC acquired a new stake in HubSpot in the fourth quarter worth $334,000. 90.39% of the stock is owned by institutional investors.

HubSpot Price Performance

Shares of HUBS opened at $449.10 on Friday. The firm has a 50-day moving average of $547.87 and a 200-day moving average of $612.52. HubSpot, Inc. has a one year low of $444.25 and a one year high of $881.13. The company has a market cap of $23.68 billion, a PE ratio of -1,952.61, a price-to-earnings-growth ratio of 16.24 and a beta of 1.66.

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

Analyst Ratings Changes

A number of brokerages recently commented on HUBS. Jefferies Financial Group dropped their price objective on shares of HubSpot from $900.00 to $700.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. Macquarie dropped their price objective on shares of HubSpot from $730.00 to $660.00 and set an "outperform" rating on the stock in a report on Thursday. KeyCorp dropped their price objective on shares of HubSpot from $860.00 to $775.00 and set an "overweight" rating on the stock in a report on Thursday. Cantor Fitzgerald began coverage on shares of HubSpot in a report on Tuesday, June 3rd. They set an "overweight" rating and a $775.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on shares of HubSpot from $775.00 to $675.00 and set an "overweight" rating on the stock in a report on Thursday. Three equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, HubSpot presently has a consensus rating of "Moderate Buy" and a consensus price target of $726.04.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the completion of the sale, the chief executive officer owned 63,918 shares of the company's stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total transaction of $339,350.85. Following the sale, the chief financial officer directly owned 41,086 shares of the company's stock, valued at $22,670,843.94. The trade was a 1.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,998 shares of company stock valued at $10,928,616. Company insiders own 4.50% of the company's stock.

HubSpot Profile

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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