Victory Capital Management Inc. Reduces Stock Position in HubSpot, Inc. (NYSE:HUBS)

Victory Capital Management Inc. reduced its stake in HubSpot, Inc. (NYSE:HUBS) by 30.0% in the second quarter, Holdings Channel.com reports. The fund owned 24,204 shares of the software maker’s stock after selling 10,388 shares during the period. Victory Capital Management Inc.’s holdings in HubSpot were worth $14,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the stock. Gilbert & Cook Inc. boosted its stake in HubSpot by 60.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,965 shares of the software maker’s stock worth $1,141,000 after purchasing an additional 737 shares during the period. Private Advisor Group LLC boosted its position in shares of HubSpot by 32.6% in the fourth quarter. Private Advisor Group LLC now owns 1,227 shares of the software maker’s stock valued at $712,000 after acquiring an additional 302 shares during the period. Principal Securities Inc. bought a new stake in HubSpot during the 4th quarter worth approximately $50,000. Jump Financial LLC lifted its stake in HubSpot by 111.8% in the 4th quarter. Jump Financial LLC now owns 2,300 shares of the software maker’s stock worth $1,335,000 after purchasing an additional 1,214 shares in the last quarter. Finally, QRG Capital Management Inc. purchased a new stake in HubSpot in the 4th quarter worth approximately $224,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $586.85, for a total value of $14,671,250.00. Following the transaction, the chief technology officer now directly owns 1,348,929 shares of the company’s stock, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,012 shares of company stock worth $21,300,253. 4.50% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HUBS. Truist Financial reiterated a “buy” rating and issued a $600.00 price objective (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $700.00 price target on shares of HubSpot in a report on Thursday, August 8th. Citigroup dropped their price target on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. UBS Group decreased their price objective on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Evercore ISI dropped their target price on shares of HubSpot from $650.00 to $550.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Five analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, HubSpot has an average rating of “Moderate Buy” and an average price target of $610.79.

HubSpot Stock Performance

NYSE:HUBS opened at $491.22 on Friday. HubSpot, Inc. has a fifty-two week low of $407.23 and a fifty-two week high of $693.85. The firm has a market cap of $25.22 billion, a PE ratio of -185.37, a price-to-earnings-growth ratio of 3,140.82 and a beta of 1.63. The business has a 50 day moving average price of $490.90 and a 200-day moving average price of $570.38.

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