Renaissance Technologies LLC Sells 29,600 Shares of HubSpot, Inc. (NYSE:HUBS)

Renaissance Technologies LLC cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 62.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,100 shares of the software maker’s stock after selling 29,600 shares during the period. Renaissance Technologies LLC’s holdings in HubSpot were worth $12,612,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Cerity Partners LLC lifted its position in shares of HubSpot by 21.4% during the fourth quarter. Cerity Partners LLC now owns 6,569 shares of the software maker’s stock valued at $4,321,000 after buying an additional 1,160 shares during the last quarter. Polymer Capital Management HK LTD purchased a new stake in HubSpot during the fourth quarter valued at approximately $2,719,000. Aster Capital Management DIFC Ltd boosted its stake in HubSpot by 213.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock valued at $33,000 after acquiring an additional 32 shares in the last quarter. Federated Hermes Inc. grew its holdings in HubSpot by 48.7% in the fourth quarter. Federated Hermes Inc. now owns 170,663 shares of the software maker’s stock worth $118,913,000 after purchasing an additional 55,870 shares during the last quarter. Finally, Alcosta Capital Management Inc. increased its position in shares of HubSpot by 2.3% during the fourth quarter. Alcosta Capital Management Inc. now owns 5,183 shares of the software maker’s stock worth $3,611,000 after purchasing an additional 118 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Truist Financial reissued a “buy” rating and issued a $900.00 price objective (up previously from $750.00) on shares of HubSpot in a research report on Thursday, February 13th. Scotiabank boosted their price target on HubSpot from $825.00 to $900.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Stifel Nicolaus lifted their target price on shares of HubSpot from $880.00 to $925.00 and gave the stock 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 note on Thursday, February 13th. Finally, The Goldman Sachs Group lifted their price objective on shares of HubSpot from $783.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, HubSpot presently has an average rating of “Moderate Buy” and an average price target of $834.15.

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 2,382 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total transaction of $1,367,077.44. Following the completion of the transaction, the chief executive officer now directly owns 72,373 shares in the company, valued at approximately $41,536,312.16. This represents a 3.19 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction 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 transaction, the insider now directly owns 527,233 shares in the company, valued at approximately $320,283,502.84. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 19,382 shares of company stock valued at $13,415,657 in the last three months. 4.50% of the stock is currently owned by company insiders.

HubSpot Stock Performance

Shares of HubSpot stock opened at $546.91 on Wednesday. The firm has a 50-day simple moving average of $642.64 and a two-hundred day simple moving average of $659.76. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The company has a market cap of $28.52 billion, a P/E ratio of 6,077.41, a price-to-earnings-growth ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) 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 negative return on equity of 0.07% and a net margin of 0.17%. Equities research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current 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.