Renaissance Technologies LLC Cuts Position in HubSpot, Inc. (NYSE:HUBS)

Renaissance Technologies LLC reduced its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 39.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 92,800 shares of the software maker’s stock after selling 59,500 shares during the quarter. Renaissance Technologies LLC owned 0.18% of HubSpot worth $54,733,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in HubSpot by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock worth $3,025,964,000 after purchasing an additional 39,098 shares during the period. Price T Rowe Associates Inc. MD lifted its stake 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 worth $1,211,535,000 after purchasing an additional 176,336 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after buying an additional 626,977 shares during the period. Jennison Associates LLC grew its stake in shares of HubSpot by 62.1% in the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock valued at $988,406,000 after buying an additional 604,554 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of HubSpot during the 4th quarter valued at about $311,236,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Raymond James decreased their price target on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Bank of America decreased their target price on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Stifel Nicolaus dropped their price target on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a research note on Tuesday, July 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $700.00 price objective on shares of HubSpot in a research report on Thursday, August 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $570.00 target price on shares of HubSpot 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 company’s stock. According to MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $610.79.

HubSpot Stock Down 0.6 %

Shares of HUBS stock opened at $492.30 on Wednesday. The company has a market cap of $25.09 billion, a P/E ratio of -185.77, a PEG ratio of 3,140.82 and a beta of 1.63. The business has a 50 day moving average of $487.73 and a two-hundred day moving average of $567.89. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85.

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

Insider Transactions at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction 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 sale, the chief executive officer now owns 67,203 shares of the company’s stock, 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 this hyperlink. Also, CFO Kathryn Bueker sold 1,135 shares of the business’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $672,828.00. Following the transaction, the chief financial officer now owns 44,715 shares of the company’s stock, valued at approximately $26,507,052. The disclosure for this sale can be found here. Over the last quarter, insiders sold 38,012 shares of company stock worth $21,300,253. Insiders own 4.50% 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.