HubSpot, Inc. $HUBS Position Boosted by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI increased its stake in HubSpot, acquiring an additional 16,644 shares, bringing its total holdings to 79,474 shares, valued at approximately $45.4 million.
• HubSpot reported a quarterly earnings per share (EPS) of $2.19, surpassing analysts' expectations and showing a 19.4% year-over-year revenue growth with revenue totaling $760.87 million.
• Analysts have given HubSpot a consensus rating of "Moderate Buy" with a price target averaging $722.93, despite multiple downward adjustments from various brokerages in recent months.

Zurich Insurance Group Ltd FI raised its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 26.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 79,474 shares of the software maker's stock after purchasing an additional 16,644 shares during the quarter. Zurich Insurance Group Ltd FI owned 0.15% of HubSpot worth $45,403,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of HUBS. Highview Capital Management LLC DE lifted its holdings in shares of HubSpot by 4.5% in the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker's stock valued at $2,098,000 after buying an additional 129 shares during the period. Captrust Financial Advisors lifted its holdings in shares of HubSpot by 41.8% in the 4th quarter. Captrust Financial Advisors now owns 1,933 shares of the software maker's stock valued at $1,347,000 after buying an additional 570 shares during the period. Cetera Investment Advisers raised its holdings in HubSpot by 3.2% during the fourth quarter. Cetera Investment Advisers now owns 4,152 shares of the software maker's stock worth $2,893,000 after purchasing an additional 127 shares during the last quarter. Fiduciary Trust Co acquired a new position in HubSpot during the fourth quarter worth $350,000. Finally, Ethic Inc. raised its holdings in HubSpot by 2.7% during the fourth quarter. Ethic Inc. now owns 3,836 shares of the software maker's stock worth $2,672,000 after purchasing an additional 102 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

HubSpot Trading Down 0.7%

NYSE HUBS traded down $3.69 on Friday, hitting $493.10. 446,699 shares of the stock traded hands, compared to its average volume of 742,683. The stock has a 50-day moving average of $498.16 and a 200 day moving average of $560.89. HubSpot, Inc. has a twelve month low of $418.34 and a twelve month high of $881.13. The company has a market capitalization of $25.98 billion, a P/E ratio of -2,143.91, a price-to-earnings-growth ratio of 16.85 and a beta of 1.58.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $760.87 million for the quarter, compared to analysts' expectations of $739.94 million. During the same quarter in the prior year, the firm posted $1.94 earnings per share. HubSpot's revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities research analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Analysts Set New Price Targets

HUBS has been the subject of a number of recent research reports. Wells Fargo & Company lifted their price objective on HubSpot from $675.00 to $680.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Stifel Nicolaus lowered their price target on HubSpot from $750.00 to $700.00 and set a "buy" rating for the company in a research report on Monday, July 14th. Macquarie lowered their price target on HubSpot from $730.00 to $660.00 and set an "outperform" rating for the company in a research report on Thursday, August 7th. Canaccord Genuity Group lowered their price target on HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. Finally, Truist Financial lowered their price target on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and two 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 price target of $722.93.

Insider Buying and Selling

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

HubSpot Company 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.