Ridgewood Investments LLC Lowers Position in HubSpot, Inc. (NYSE:HUBS)

Ridgewood Investments LLC decreased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 2.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,492 shares of the software maker’s stock after selling 30 shares during the period. Ridgewood Investments LLC’s holdings in HubSpot were worth $793,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in shares of HubSpot in the 2nd quarter worth about $3,689,000. Sycomore Asset Management increased its stake in shares of HubSpot by 9.5% during the second quarter. Sycomore Asset Management now owns 2,988 shares of the software maker’s stock valued at $1,699,000 after purchasing an additional 260 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of HubSpot by 17.8% during the second quarter. Cetera Investment Advisers now owns 4,706 shares of the software maker’s stock valued at $2,776,000 after purchasing an additional 712 shares during the last quarter. Quarry LP bought a new stake in shares of HubSpot in the 2nd quarter worth approximately $146,000. Finally, NewEdge Advisors LLC grew its stake in shares of HubSpot by 2.2% in the 2nd quarter. NewEdge Advisors LLC now owns 3,344 shares of the software maker’s stock worth $1,972,000 after buying an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Price Performance

Shares of HUBS stock traded up $17.58 during trading hours on Friday, reaching $535.00. 438,433 shares of the company traded hands, compared to its average volume of 612,367. The firm has a 50-day moving average price of $498.80 and a 200 day moving average price of $560.66. The company has a market cap of $27.26 billion, a P/E ratio of -201.96, a P/E/G ratio of 7,010.23 and a beta of 1.64. HubSpot, Inc. has a 12-month low of $407.23 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last issued 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 for the quarter, compared to the consensus estimate of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.17) earnings per share.

Analysts Set New Price Targets

HUBS has been the topic of several analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $730.00 target price on shares of HubSpot in a report on Thursday, September 19th. 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. UBS Group decreased their target price on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. BMO Capital Markets reiterated an “outperform” rating and set a $570.00 price target on shares of HubSpot in a report on Thursday, September 19th. Finally, Barclays decreased their price objective on shares of HubSpot from $575.00 to $500.00 and set an “equal weight” rating for the company in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $610.79.

Insider Activity

In related news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction that occurred 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other HubSpot news, CEO Yamini Rangan sold 116 shares of HubSpot 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 sale, the chief executive officer now directly owns 67,203 shares in the company, valued at approximately $33,009,441.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $586.85, for a total transaction 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 $791,618,983.65. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 36,643 shares of company stock worth $20,311,734 over the last ninety days. Corporate 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.