Zurich Insurance Group Ltd FI Makes New $43.78 Million Investment in HubSpot, Inc. (NYSE:HUBS)

Zurich Insurance Group Ltd FI acquired a new stake in HubSpot, Inc. (NYSE:HUBS - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 62,830 shares of the software maker's stock, valued at approximately $43,778,000. Zurich Insurance Group Ltd FI owned approximately 0.12% of HubSpot as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in HUBS. Farther Finance Advisors LLC grew its holdings in shares of HubSpot by 5.4% during the 4th quarter. Farther Finance Advisors LLC now owns 255 shares of the software maker's stock worth $178,000 after purchasing an additional 13 shares in the last quarter. Wedbush Securities Inc. grew its stake in HubSpot by 3.4% in the fourth quarter. Wedbush Securities Inc. now owns 393 shares of the software maker's stock valued at $274,000 after acquiring an additional 13 shares during the period. First Horizon Advisors Inc. grew its stake in HubSpot by 2.4% in the fourth quarter. First Horizon Advisors Inc. now owns 638 shares of the software maker's stock valued at $445,000 after acquiring an additional 15 shares during the period. Amalgamated Bank boosted its position in shares of HubSpot by 0.5% during the fourth quarter. Amalgamated Bank now owns 3,259 shares of the software maker's stock worth $2,271,000 after buying an additional 16 shares during the period. Finally, Avitas Wealth Management LLC boosted its position in shares of HubSpot by 0.8% during the fourth quarter. Avitas Wealth Management LLC now owns 2,038 shares of the software maker's stock worth $1,420,000 after buying an additional 17 shares during the period. Institutional investors and hedge funds own 90.39% of the company's stock.

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of the business's stock in a transaction dated Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total value of $4,578,100.00. Following the transaction, the insider now directly owns 525,687 shares of the company's stock, valued at $283,135,018.20. The trade was a 1.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Yamini Rangan sold 2,382 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the transaction, the chief executive officer now directly owns 72,373 shares in the company, valued at $41,536,312.16. This represents a 3.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,062 shares of company stock valued at $11,516,757. 4.50% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on HUBS. KeyCorp upgraded HubSpot from a "sector weight" rating to an "overweight" rating and set a $920.00 target price on the stock in a report on Thursday, February 13th. Truist Financial lowered their target price on HubSpot from $900.00 to $720.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Wall Street Zen upgraded HubSpot from a "hold" rating to a "buy" rating in a research note on Thursday. Macquarie began coverage on HubSpot in a research report on Monday, March 24th. They set an "outperform" rating and a $730.00 price target on the stock. Finally, The Goldman Sachs Group reduced their price target on HubSpot from $900.00 to $795.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given 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 target price of $767.33.

HubSpot Stock Down 2.1%

HUBS traded down $13.02 during midday trading on Friday, hitting $614.79. 432,204 shares of the company were exchanged, compared to its average volume of 622,986. The firm has a market capitalization of $32.42 billion, a P/E ratio of 6,831.70, a P/E/G ratio of 41.44 and a beta of 1.78. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13. The firm's 50 day moving average price is $590.58 and its 200-day moving average price is $673.13.

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.