Dharmesh Shah Sells 17,253 Shares of HubSpot (NYSE:HUBS) Stock

Key Points

• Dharmesh Shah, CTO of HubSpot, sold 17,253 shares of the company's stock for a total of $8.64 million on September 8th, reducing his ownership by 1.33% to 1,275,805 shares.
• In recent trading, HubSpot's stock experienced a 2.4% decline, bringing its price down to $489.99, compared to a fifty-two week low of $418.34 and a high of $881.13.
• HubSpot's latest earnings report showed a growth in revenue by 19.4% year-over-year, with $760.87 million for the quarter and an EPS of $2.19, surpassing analysts' expectations.

HubSpot, Inc. (NYSE:HUBS - Get Free Report) CTO Dharmesh Shah sold 17,253 shares of the firm's stock in a transaction on Monday, September 8th. The shares were sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the sale, the chief technology officer owned 1,275,805 shares in the company, valued at $638,744,531.30. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Dharmesh Shah also recently made the following trade(s):

• On Tuesday, September 9th, Dharmesh Shah sold 4,747 shares of HubSpot stock. The shares were sold at an average price of $501.60, for a total transaction of $2,381,095.20.

HubSpot Price Performance

Shares of HUBS stock traded up $16.68 on Monday, hitting $508.16. 642,830 shares of the stock traded hands, compared to its average volume of 776,623. The firm has a market cap of $26.77 billion, a price-to-earnings ratio of -2,209.39, a PEG ratio of 16.93 and a beta of 1.58. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The firm has a 50 day simple moving average of $497.22 and a two-hundred day simple moving average of $557.17.

HubSpot (NYSE:HUBS - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $760.87 million for 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%. The company's revenue was up 19.4% on a year-over-year basis. During the same period last year, the firm earned $1.94 EPS. Sell-side analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Hedge Funds Weigh In On HubSpot

Institutional investors and hedge funds have recently made changes to their positions in the business. Elequin Capital LP purchased a new position in shares of HubSpot in the 4th quarter worth $27,000. Goodman Advisory Group LLC purchased a new position in shares of HubSpot during the 2nd quarter worth about $27,000. Whittier Trust Co. boosted its stake in shares of HubSpot by 136.4% during the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker's stock worth $29,000 after purchasing an additional 30 shares during the period. Rakuten Securities Inc. boosted its stake in shares of HubSpot by 783.3% during the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker's stock worth $30,000 after purchasing an additional 47 shares during the period. Finally, Hilltop National Bank bought a new stake in HubSpot during the 2nd quarter valued at about $32,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Raymond James Financial cut their target price on shares of HubSpot from $825.00 to $655.00 and set an "outperform" rating for the company in a research note on Thursday, August 7th. Canaccord Genuity Group cut their target price on shares of HubSpot from $765.00 to $700.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Truist Financial cut their target price on shares of HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Sanford C. Bernstein raised shares of HubSpot from a "market perform" rating to an "outperform" rating and set a $606.00 target price for the company in a research note on Wednesday, September 3rd. Finally, Wall Street Zen raised shares of HubSpot from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research 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 company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $722.93.

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.