Wasatch Advisors LP Cuts Stock Position in HubSpot, Inc. (NYSE:HUBS)

Wasatch Advisors LP cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 17.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,044 shares of the software maker’s stock after selling 1,097 shares during the quarter. Wasatch Advisors LP’s holdings in HubSpot were worth $3,515,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HUBS. Wellington Management Group LLP increased its holdings in HubSpot by 5.3% during the fourth quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock worth $1,029,262,000 after buying an additional 74,990 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of HubSpot by 1.2% during the 4th quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock worth $577,572,000 after purchasing an additional 9,922 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of HubSpot by 3.8% in the 4th quarter. Groupama Asset Managment now owns 726,799 shares of the software maker’s stock worth $506,412,000 after purchasing an additional 26,799 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in HubSpot by 18.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 676,074 shares of the software maker’s stock valued at $471,068,000 after purchasing an additional 104,800 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in HubSpot by 3.8% during the fourth quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock valued at $469,987,000 after purchasing an additional 24,799 shares during the period. 90.39% of the stock is currently owned by institutional investors.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $543.21 on Thursday. The firm has a fifty day moving average of $638.06 and a 200 day moving average of $658.96. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The firm has a market capitalization of $28.33 billion, a PE ratio of 6,036.34, a price-to-earnings-growth ratio of 41.44 and a beta of 1.82.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 EPS 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, sell-side analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Transactions at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $607.48, for a total value of $5,163,580.00. Following the transaction, the insider now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 2,382 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $573.92, for a total value of $1,367,077.44. Following the completion of the sale, the chief executive officer now directly owns 72,373 shares of the company’s stock, valued at approximately $41,536,312.16. This trade represents a 3.19 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 19,382 shares of company stock worth $13,415,657. 4.50% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on HUBS. UBS Group upgraded HubSpot from a “neutral” rating to a “buy” rating and lowered their target price for the company from $775.00 to $675.00 in a research note on Tuesday. Sanford C. Bernstein assumed coverage on HubSpot in a report on Thursday, March 20th. They issued a “market perform” rating and a $693.00 price objective for the company. BMO Capital Markets upped their price objective on shares of HubSpot from $690.00 to $885.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Scotiabank lifted their target price on shares of HubSpot from $825.00 to $900.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, Jefferies Financial Group lowered their price target on shares of HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a research report on Tuesday. Five equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $818.04.

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.