HubSpot, Inc. (NYSE:HUBS) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in HubSpot, Inc. (NYSE:HUBS) by 21.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,736 shares of the software maker’s stock after selling 7,048 shares during the period. Principal Financial Group Inc.’s holdings in HubSpot were worth $13,681,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. HM Payson & Co. raised its holdings in shares of HubSpot by 36.0% in the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after buying an additional 18 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in shares of HubSpot by 19.5% during the second quarter. Hazlett Burt & Watson Inc. now owns 153 shares of the software maker’s stock valued at $91,000 after buying an additional 25 shares during the last quarter. V Square Quantitative Management LLC increased its position in shares of HubSpot by 3.0% in the 3rd quarter. V Square Quantitative Management LLC now owns 929 shares of the software maker’s stock valued at $494,000 after acquiring an additional 27 shares during the period. Jacobs Levy Equity Management Inc. raised its stake in HubSpot by 2.8% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 1,114 shares of the software maker’s stock worth $698,000 after acquiring an additional 30 shares during the last quarter. Finally, Quent Capital LLC lifted its position in HubSpot by 13.0% during the 2nd quarter. Quent Capital LLC now owns 261 shares of the software maker’s stock worth $154,000 after acquiring an additional 30 shares during the period. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Dawson Alyssa Harvey sold 573 shares of HubSpot stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the sale, the insider now directly owns 7,603 shares of the company’s stock, valued at $5,322,100. The trade was a 7.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 116 shares of the 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 of the company’s stock, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,891 shares of company stock worth $6,662,473 in the last 90 days. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. UBS Group increased their price objective on HubSpot from $550.00 to $650.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Piper Sandler lowered HubSpot from an “overweight” rating to a “neutral” rating and upped their target price for the company from $570.00 to $640.00 in a research report on Thursday, November 7th. Barclays raised their price target on shares of HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Finally, Canaccord Genuity Group raised their target price on shares of HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $672.68.

HubSpot Price Performance

Shares of HUBS stock opened at $677.07 on Friday. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $724.61. The company has a market cap of $34.95 billion, a price-to-earnings ratio of -2,507.57, a PEG ratio of 85.11 and a beta of 1.63. The stock has a 50 day simple moving average of $554.78 and a 200-day simple moving average of $548.56.

HubSpot (NYSE:HUBS) last issued its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping the consensus estimate of $1.91 by $0.27. The company had revenue of $669.72 million during the quarter, compared to analyst estimates of $646.97 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.04) EPS. Analysts anticipate that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal 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.