Abdiel Capital Advisors LP Has $353.78 Million Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Abdiel Capital Advisors LP lessened its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 3.5% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 599,833 shares of the software maker’s stock after selling 21,486 shares during the quarter. HubSpot makes up 25.0% of Abdiel Capital Advisors LP’s portfolio, making the stock its biggest position. Abdiel Capital Advisors LP’s holdings in HubSpot were worth $353,776,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Riverview Trust Co bought a new stake in shares of HubSpot during the first quarter worth $27,000. Geneos Wealth Management Inc. increased its holdings in HubSpot by 1,125.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock worth $31,000 after purchasing an additional 45 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of HubSpot in the 2nd quarter valued at about $35,000. Crewe Advisors LLC lifted its holdings in shares of HubSpot by 525.0% in the second quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after purchasing an additional 63 shares in the last quarter. Finally, SYSTM Wealth Solutions LLC boosted its position in shares of HubSpot by 54.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 77 shares of the software maker’s stock worth $48,000 after buying an additional 27 shares during the period. 90.39% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HUBS has been the topic of a number of recent research reports. Raymond James dropped their target price on HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th. Bank of America lowered their price objective on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a report on Thursday, August 8th. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price objective on the stock in a research report on Thursday, August 8th. Piper Sandler reaffirmed an “overweight” rating and issued a $570.00 target price on shares of HubSpot in a research report on Thursday, September 19th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $730.00 price target on shares of HubSpot in a research note on Thursday, September 19th. 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 data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $610.79.

HubSpot Price Performance

HubSpot stock opened at $532.11 on Wednesday. The company’s 50-day moving average price is $491.77 and its two-hundred day moving average price is $564.77. HubSpot, Inc. has a twelve month low of $407.23 and a twelve month high of $693.85.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. The company had revenue of $637.20 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the company earned ($1.17) earnings per share.

Insider Transactions at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the transaction, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Dharmesh Shah sold 25,000 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was 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 owns 1,348,929 shares in the company, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,012 shares of company stock valued at $21,300,253. 4.50% of the stock is currently owned by corporate insiders.

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.