Allspring Global Investments Holdings LLC Acquires 17,561 Shares of HubSpot, Inc. (NYSE:HUBS)

Allspring Global Investments Holdings LLC increased its holdings in HubSpot, Inc. (NYSE:HUBS) by 18.8% in the 1st quarter, Holdings Channel reports. The institutional investor owned 111,175 shares of the software maker’s stock after purchasing an additional 17,561 shares during the period. Allspring Global Investments Holdings LLC’s holdings in HubSpot were worth $69,658,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Riverview Trust Co bought a new position in HubSpot in the 1st quarter worth approximately $27,000. Rakuten Securities Inc. bought a new position in HubSpot in the 4th quarter valued at $29,000. Venturi Wealth Management LLC boosted its holdings in HubSpot by 335.7% in the 4th quarter. Venturi Wealth Management LLC now owns 61 shares of the software maker’s stock valued at $35,000 after purchasing an additional 47 shares during the period. Larson Financial Group LLC boosted its holdings in HubSpot by 1,380.0% in the 4th quarter. Larson Financial Group LLC now owns 74 shares of the software maker’s stock valued at $43,000 after purchasing an additional 69 shares during the period. Finally, Principal Securities Inc. bought a new position in HubSpot in the 4th quarter valued at $50,000. 90.39% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

HUBS has been the subject of several analyst reports. Stifel Nicolaus cut their price target on shares of HubSpot from $750.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Canaccord Genuity Group cut their price target on shares of HubSpot from $750.00 to $700.00 and set a “buy” rating for the company in a report on Thursday, May 9th. KeyCorp initiated coverage on shares of HubSpot in a report on Thursday, March 21st. They issued an “underweight” rating and a $520.00 price target for the company. Citigroup cut their price target on shares of HubSpot from $798.00 to $767.00 and set a “buy” rating for the company in a report on Friday, May 10th. Finally, Piper Sandler dropped their price objective on shares of HubSpot from $675.00 to $655.00 and set an “overweight” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $641.00.

Insider Activity

In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the sale, the insider now owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Kathryn Bueker sold 3,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $616.51, for a total transaction of $2,427,199.87. Following the sale, the chief financial officer now owns 45,737 shares of the company’s stock, valued at $28,197,317.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the completion of the transaction, the insider now owns 526,041 shares in the company, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,479 shares of company stock valued at $11,043,280. Corporate insiders own 4.50% of the company’s stock.

HubSpot Trading Down 1.5 %

Shares of HUBS opened at $583.82 on Wednesday. The firm’s 50-day moving average price is $600.56 and its 200-day moving average price is $603.89. The firm has a market capitalization of $29.75 billion, a price-to-earnings ratio of -220.43 and a beta of 1.60. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.32. HubSpot, Inc. has a 1-year low of $407.23 and a 1-year high of $693.85.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, May 8th. The software maker reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.27. The firm had revenue of $617.41 million for the quarter, compared to analyst estimates of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. Sell-side analysts anticipate that HubSpot, Inc. will post -0.55 EPS for the current year.

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.