HubSpot (NYSE:HUBS) CTO Sells $8,637,886.98 in 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 company's stock in a transaction on Monday, September 8th. The stock was sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the transaction, the chief technology officer owned 1,275,805 shares of the company's stock, valued at $638,744,531.30. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

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 Trading Down 2.4%

HubSpot stock traded down $12.31 during midday trading on Wednesday, hitting $489.99. 814,388 shares of the stock were exchanged, compared to its average volume of 745,332. HubSpot, Inc. has a fifty-two week low of $418.34 and a fifty-two week high of $881.13. The stock has a market capitalization of $25.82 billion, a price-to-earnings ratio of -2,130.37, a PEG ratio of 17.17 and a beta of 1.58. The stock's 50-day simple moving average is $501.87 and its 200 day simple moving average is $564.53.

HubSpot (NYSE:HUBS - Get Free Report) last posted 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. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business had revenue of $760.87 million during the quarter, compared to analyst estimates of $739.94 million. During the same quarter last year, the firm posted $1.94 earnings per share. The business's revenue for the quarter was up 19.4% compared to the same quarter last year. Equities analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on HUBS. UBS Group reiterated an "outperform" rating on shares of HubSpot in a research report on Wednesday, September 3rd. Truist Financial cut their price target on HubSpot from $720.00 to $675.00 and set a "buy" rating for the company in a research note on Thursday, August 7th. Piper Sandler assumed coverage on shares of HubSpot in a research report on Thursday, September 4th. They set an "overweight" rating and a $675.00 price objective for the company. Sanford C. Bernstein upgraded shares of HubSpot from a "market perform" rating to an "outperform" rating and set a $606.00 price objective for the company in a research report on Wednesday, September 3rd. Finally, Raymond James Financial cut their price objective on shares of HubSpot from $825.00 to $655.00 and set an "outperform" 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 company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $722.93.

Institutional Trading of HubSpot

Large investors have recently bought and sold shares of the company. Private Trust Co. NA grew its holdings in HubSpot by 481.5% in the first quarter. Private Trust Co. NA now owns 157 shares of the software maker's stock valued at $90,000 after purchasing an additional 130 shares during the last quarter. Principal Financial Group Inc. grew its stake in HubSpot by 4.6% in the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker's stock valued at $16,427,000 after acquiring an additional 1,276 shares during the last quarter. Golden State Wealth Management LLC grew its stake in HubSpot by 1,840.0% in the 1st quarter. Golden State Wealth Management LLC now owns 97 shares of the software maker's stock valued at $55,000 after acquiring an additional 92 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in HubSpot in the 1st quarter valued at about $235,000. Finally, Amalgamated Bank grew its stake in HubSpot by 6.9% in the 1st quarter. Amalgamated Bank now owns 3,485 shares of the software maker's stock valued at $1,991,000 after acquiring an additional 226 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company's stock.

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.

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