Melqart Asset Management UK Ltd Sells 3,176 Shares of HubSpot, Inc. (NYSE:HUBS)

Melqart Asset Management UK Ltd reduced its stake in HubSpot, Inc. (NYSE:HUBS - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,702 shares of the software maker's stock after selling 3,176 shares during the period. HubSpot accounts for approximately 2.6% of Melqart Asset Management UK Ltd's investment portfolio, making the stock its 12th biggest position. Melqart Asset Management UK Ltd owned approximately 0.06% of HubSpot worth $21,392,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of HUBS. Norges Bank acquired a new position in HubSpot during the fourth quarter worth about $420,345,000. Raymond James Financial Inc. purchased a new stake in HubSpot in the 4th quarter valued at about $157,019,000. Wealthfront Advisers LLC increased its stake in shares of HubSpot by 3,090.2% during the 4th quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker's stock worth $93,049,000 after purchasing an additional 129,357 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of HubSpot during the 4th quarter worth approximately $79,135,000. Finally, Alliancebernstein L.P. boosted its holdings in HubSpot by 61.9% in the 4th quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker's stock worth $199,504,000 after buying an additional 109,449 shares during the period. Institutional investors own 90.39% of the company's stock.

HubSpot Stock Performance

HubSpot stock traded down $0.54 during midday trading on Wednesday, reaching $612.15. 570,625 shares of the company were exchanged, compared to its average volume of 621,425. The company has a market capitalization of $31.93 billion, a price-to-earnings ratio of 6,802.42, a P/E/G ratio of 41.44 and a beta of 1.82. The firm's 50-day simple moving average is $598.28 and its 200-day simple moving average is $662.25. HubSpot, Inc. has a 1 year low of $434.84 and a 1 year high of $881.13.

HubSpot (NYSE:HUBS - Get Free Report) last announced its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate 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, analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HUBS. BMO Capital Markets upped their price objective on HubSpot from $690.00 to $885.00 and gave the stock an "outperform" rating in a report on Thursday, February 13th. The Goldman Sachs Group upped their price target on HubSpot from $783.00 to $900.00 and gave the stock a "buy" rating in a research note on Thursday, February 13th. Needham & Company LLC increased their target price on HubSpot from $730.00 to $900.00 and gave the company a "buy" rating in a research note on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of HubSpot from $825.00 to $950.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. Finally, Barclays raised shares of HubSpot from an "equal weight" rating to an "overweight" rating and set a $815.00 target price for the company in a report on Wednesday, March 12th. Five analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $782.63.

Insider Activity

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total value of $5,163,580.00. Following the completion of the sale, the insider now owns 527,233 shares in the company, valued at approximately $320,283,502.84. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 680 shares of the firm's stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,562 shares of company stock worth $18,401,757. Corporate insiders own 4.50% 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.