Fred Alger Management LLC Purchases 402 Shares of HubSpot, Inc. (NYSE:HUBS)

Fred Alger Management LLC boosted its position in HubSpot, Inc. (NYSE:HUBS - Free Report) by 3.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,725 shares of the software maker's stock after purchasing an additional 402 shares during the quarter. Fred Alger Management LLC's holdings in HubSpot were worth $7,473,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of HubSpot in the 3rd quarter worth $25,000. GAMMA Investing LLC increased its stake in shares of HubSpot by 16.9% in the 4th quarter. GAMMA Investing LLC now owns 221 shares of the software maker's stock worth $154,000 after acquiring an additional 32 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of HubSpot by 7.7% during the 4th quarter. Nordea Investment Management AB now owns 4,268 shares of the software maker's stock worth $2,987,000 after purchasing an additional 306 shares during the period. Diversified Trust Co grew its holdings in shares of HubSpot by 103.8% during the 4th quarter. Diversified Trust Co now owns 1,300 shares of the software maker's stock worth $906,000 after purchasing an additional 662 shares during the period. Finally, Fulton Bank N.A. grew its holdings in shares of HubSpot by 7.9% during the 4th quarter. Fulton Bank N.A. now owns 1,005 shares of the software maker's stock worth $700,000 after purchasing an additional 74 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other HubSpot news, CEO Yamini Rangan sold 680 shares of the stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $600.00, for a total value of $408,000.00. Following the transaction, the chief executive officer now owns 71,693 shares of the company's stock, valued at approximately $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $810.00, for a total value of $6,885,000.00. Following the sale, the insider now directly owns 524,751 shares in the company, valued at approximately $425,048,310. This represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,562 shares of company stock valued at $18,401,757 over the last 90 days. 4.50% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of research analyst reports. Piper Sandler increased their price target on HubSpot from $535.00 to $645.00 and gave the stock a "neutral" rating in a report on Friday. BMO Capital Markets lowered their target price on HubSpot from $885.00 to $745.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. TD Cowen cut HubSpot from a "buy" rating to a "hold" rating and raised their target price for the company from $680.00 to $725.00 in a report on Friday, January 17th. StockNews.com cut HubSpot from a "buy" rating to a "hold" rating in a report on Tuesday, February 25th. Finally, Canaccord Genuity Group raised their target price on HubSpot from $710.00 to $900.00 and gave the company a "buy" rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $772.56.

HubSpot Stock Performance

Shares of HUBS stock traded up $59.07 during trading hours on Monday, hitting $662.12. The company had a trading volume of 1,170,818 shares, compared to its average volume of 618,801. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The firm has a market capitalization of $34.85 billion, a price-to-earnings ratio of 7,357.73, a PEG ratio of 41.44 and a beta of 1.78. The firm's fifty day moving average is $584.93 and its 200 day moving average is $668.28.

HubSpot (NYSE:HUBS - Get Free Report) last released its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts' consensus estimates of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. On average, sell-side analysts expect that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

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.