Pictet Asset Management Holding SA Sells 22,529 Shares of HubSpot, Inc. (NYSE:HUBS)

Pictet Asset Management Holding SA lowered its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 5.0% during the 4th quarter, HoldingsChannel.com reports. The firm owned 431,726 shares of the software maker’s stock after selling 22,529 shares during the quarter. Pictet Asset Management Holding SA’s holdings in HubSpot were worth $300,814,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of HUBS. Norges Bank purchased a new stake in HubSpot in the 4th quarter worth about $420,345,000. Loomis Sayles & Co. L P bought a new position in shares of HubSpot during the fourth quarter valued at approximately $82,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of HubSpot by 7.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 34,401 shares of the software maker’s stock worth $24,179,000 after buying an additional 2,305 shares during the period. Korea Investment CORP raised its holdings in shares of HubSpot by 6.6% in the fourth quarter. Korea Investment CORP now owns 49,011 shares of the software maker’s stock worth $34,149,000 after buying an additional 3,020 shares during the period. Finally, Banco BTG Pactual S.A. lifted its stake in shares of HubSpot by 33.7% during the 4th quarter. Banco BTG Pactual S.A. now owns 1,000 shares of the software maker’s stock worth $697,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on HUBS shares. Raymond James increased their target price on HubSpot from $750.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Redburn Atlantic began coverage on shares of HubSpot in a research note on Wednesday, February 19th. They issued a “buy” rating on the stock. Stephens began coverage on shares of HubSpot in a research report on Wednesday, March 19th. They issued an “overweight” rating and a $769.00 price objective for the company. The Goldman Sachs Group raised their target price on shares of HubSpot from $783.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Finally, Morgan Stanley boosted their price target on HubSpot from $835.00 to $898.00 and gave the company an “overweight” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus target price of $848.58.

HubSpot Stock Down 2.5 %

Shares of HubSpot stock opened at $593.32 on Friday. The company has a 50 day moving average price of $707.81 and a 200 day moving average price of $657.24. The firm has a market capitalization of $30.94 billion, a P/E ratio of 6,593.13, a PEG ratio of 41.44 and a beta of 1.80. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the completion of the transaction, the insider now directly owns 527,233 shares of the company’s stock, valued at approximately $320,283,502.84. This trade represents a 1.59 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Yamini Rangan sold 3,057 shares of HubSpot stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total transaction of $2,144,760.63. Following the sale, the chief executive officer now owns 54,079 shares of the company’s stock, valued at approximately $37,941,285.61. The trade was a 5.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,853 shares of company stock worth $15,453,396 in the last 90 days. Insiders own 4.50% of the company’s stock.

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.