HubSpot (NYSE:HUBS) Sets New 12-Month High – Here’s What Happened

HubSpot, Inc. (NYSE:HUBS)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $725.65 and last traded at $725.01, with a volume of 273502 shares. The stock had previously closed at $694.48.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler downgraded shares of HubSpot from an “overweight” rating to a “neutral” rating and raised their price objective for the stock from $570.00 to $640.00 in a research note on Thursday, November 7th. Truist Financial reiterated a “buy” rating and issued a $750.00 target price (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. The Goldman Sachs Group raised their price target on shares of HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Needham & Company LLC reiterated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a report on Thursday, November 7th. Finally, Stifel Nicolaus upped their target price on shares of HubSpot from $600.00 to $625.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $672.68.

HubSpot Price Performance

The firm has a 50-day moving average of $575.54 and a 200-day moving average of $551.94.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, November 6th. The software maker reported $2.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.91 by $0.27. The firm had revenue of $669.72 million during the quarter, compared to analysts’ expectations of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the business posted ($0.04) earnings per share. Research analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current year.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the transaction, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the sale, the insider now owns 513,698 shares of the company’s stock, valued at $339,857,459.82. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,391 shares of company stock valued at $29,101,488. Company insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On HubSpot

Institutional investors have recently added to or reduced their stakes in the stock. Coldstream Capital Management Inc. grew its position in shares of HubSpot by 40.8% in the third quarter. Coldstream Capital Management Inc. now owns 783 shares of the software maker’s stock valued at $433,000 after purchasing an additional 227 shares during the period. Synergy Financial Group LTD increased its position in shares of HubSpot by 14.2% during the third quarter. Synergy Financial Group LTD now owns 933 shares of the software maker’s stock worth $496,000 after purchasing an additional 116 shares in the last quarter. Geode Capital Management LLC lifted its holdings in HubSpot by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock valued at $435,184,000 after purchasing an additional 19,974 shares in the last quarter. M&T Bank Corp boosted its stake in HubSpot by 127.5% during the 3rd quarter. M&T Bank Corp now owns 4,496 shares of the software maker’s stock worth $2,390,000 after purchasing an additional 2,520 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in HubSpot by 4.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 19,419 shares of the software maker’s stock worth $10,323,000 after purchasing an additional 772 shares during the last quarter. Institutional investors and hedge funds own 90.39% 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.