HubSpot, Inc. (NYSE:HUBS) Position Reduced by Sei Investments Co.

Sei Investments Co. reduced its position in HubSpot, Inc. (NYSE:HUBS) by 11.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 75,313 shares of the software maker’s stock after selling 10,167 shares during the period. Sei Investments Co.’s holdings in HubSpot were worth $44,422,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Seven Eight Capital LP grew its holdings in shares of HubSpot by 146.8% during the second quarter. Seven Eight Capital LP now owns 6,250 shares of the software maker’s stock valued at $3,686,000 after buying an additional 3,718 shares in the last quarter. Blair William & Co. IL grew its stake in HubSpot by 39.8% during the 2nd quarter. Blair William & Co. IL now owns 1,995 shares of the software maker’s stock valued at $1,177,000 after acquiring an additional 568 shares in the last quarter. Vanguard Personalized Indexing Management LLC grew its stake in HubSpot by 12.9% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 5,413 shares of the software maker’s stock valued at $3,193,000 after acquiring an additional 620 shares in the last quarter. Amalgamated Bank increased its holdings in shares of HubSpot by 3.6% in the 2nd quarter. Amalgamated Bank now owns 3,303 shares of the software maker’s stock valued at $1,948,000 after purchasing an additional 114 shares during the period. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of HubSpot by 12.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 752 shares of the software maker’s stock worth $444,000 after purchasing an additional 82 shares in the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Price Performance

HubSpot stock opened at $526.88 on Monday. The firm has a market cap of $26.85 billion, a price-to-earnings ratio of -198.82, a P/E/G ratio of 3,140.82 and a beta of 1.63. The firm has a fifty day moving average price of $489.80 and a two-hundred day moving average price of $565.89. HubSpot, Inc. has a fifty-two week low of $407.23 and a fifty-two week high of $693.85.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping 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 return on equity of 2.33% and a negative net margin of 1.15%. The firm’s revenue was up 20.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.17) EPS. As a group, sell-side analysts expect that HubSpot, Inc. will post 0.01 earnings per share for the current year.

Insider Transactions at HubSpot

In related 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 transaction 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Yamini Rangan sold 116 shares of the firm’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 completion of the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the transaction, the insider now directly owns 518,152 shares of the company’s stock, valued at $244,707,645.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 38,012 shares of company stock worth $21,300,253. Insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

HUBS has been the topic of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $600.00 price objective (down from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Wells Fargo & Company dropped their price target on shares of HubSpot from $650.00 to $625.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Citigroup reduced their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $570.00 target price on shares of HubSpot in a research report on Thursday. Finally, Evercore ISI cut their price target on HubSpot from $650.00 to $550.00 and set an “in-line” rating for the company in a research note on Thursday, August 8th. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $610.79.

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.