HubSpot, Inc. (NYSE:HUBS) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 6.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 3,716 shares of the software maker’s stock after selling 240 shares during the quarter. Daiwa Securities Group Inc.’s holdings in HubSpot were worth $2,192,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of HubSpot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock valued at $3,025,964,000 after acquiring an additional 39,098 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of HubSpot by 10.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after purchasing an additional 176,336 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of HubSpot by 50.3% in the 4th quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock valued at $1,088,119,000 after purchasing an additional 626,977 shares during the period. Jennison Associates LLC increased its stake in HubSpot by 62.1% in the 1st quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock worth $988,406,000 after purchasing an additional 604,554 shares in the last quarter. Finally, Norges Bank acquired a new stake in HubSpot during the 4th quarter worth about $311,236,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Truist Financial reiterated a “buy” rating and issued a $600.00 target price (down from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Wells Fargo & Company decreased their price objective on shares of HubSpot from $650.00 to $625.00 and set an “overweight” rating for the company in a research note on Thursday, August 8th. Piper Sandler reissued an “overweight” rating and set a $570.00 target price on shares of HubSpot in a research note on Thursday, August 8th. Evercore ISI decreased their target price on HubSpot from $650.00 to $550.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Finally, Canaccord Genuity Group dropped their price target on HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research report on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $610.79.

Insider Activity

In related news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the sale, the chief executive officer now directly owns 68,037 shares in the company, valued at approximately $40,332,333.60. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other HubSpot news, CEO Yamini Rangan sold 2,877 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the transaction, the chief executive officer now owns 68,037 shares in the company, valued at $40,332,333.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of the sale, the insider now owns 9,735 shares of the company’s stock, valued at $4,548,484.05. The disclosure for this sale can be found here. In the last quarter, insiders have sold 38,012 shares of company stock valued at $21,300,253. Insiders own 4.50% of the company’s stock.

HubSpot Trading Down 0.3 %

HubSpot stock opened at $491.22 on Friday. HubSpot, Inc. has a 1-year low of $407.23 and a 1-year high of $693.85. The firm’s fifty day simple moving average is $490.90 and its 200-day simple moving average is $570.38. The company has a market capitalization of $25.22 billion, a P/E ratio of -185.37, a P/E/G ratio of 3,140.82 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The firm had revenue of $637.20 million for the quarter, compared to the consensus estimate of $619.28 million. During the same period in the prior year, the business posted ($1.17) earnings per share. The business’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities research analysts predict that HubSpot, Inc. will post 0.01 earnings per share 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.