HB Wealth Management LLC Cuts Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

HB Wealth Management LLC lessened its stake in HubSpot, Inc. (NYSE:HUBS) by 21.7% in the second quarter, HoldingsChannel reports. The fund owned 698 shares of the software maker’s stock after selling 194 shares during the period. HB Wealth Management LLC’s holdings in HubSpot were worth $412,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kintegral Advisory LLC bought a new stake in shares of HubSpot in the 2nd quarter worth approximately $1,316,000. Patriot Financial Group Insurance Agency LLC bought a new stake in HubSpot in the second quarter valued at $237,000. State of Michigan Retirement System purchased a new position in HubSpot during the 2nd quarter valued at $25,774,000. Bailard Inc. raised its holdings in HubSpot by 26.9% in the 2nd quarter. Bailard Inc. now owns 13,115 shares of the software maker’s stock worth $7,735,000 after purchasing an additional 2,779 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its position in shares of HubSpot by 6.9% in the 2nd quarter. Catalyst Financial Partners LLC now owns 539 shares of the software maker’s stock worth $318,000 after purchasing an additional 35 shares during the period. Institutional investors own 90.39% of the company’s stock.

Insider Activity at HubSpot

In other news, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $586.85, for a total value of $14,671,250.00. Following the completion of the sale, the chief technology officer now directly owns 1,348,929 shares in the company, valued at $791,618,983.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Yamini Rangan sold 2,877 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the sale, the chief executive officer now owns 68,037 shares in the company, valued at $40,332,333.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value of $14,671,250.00. Following the completion of the transaction, the chief technology officer now directly owns 1,348,929 shares in the company, valued at approximately $791,618,983.65. The disclosure for this sale can be found here. Insiders have sold 37,896 shares of company stock valued at $21,243,275 over the last ninety days. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Truist Financial reiterated a “buy” rating and set a $600.00 price target (down previously from $700.00) on shares of HubSpot in a research report on Thursday, August 8th. Evercore ISI cut their price objective on HubSpot from $650.00 to $550.00 and set an “in-line” rating on the stock in a research report on Thursday, August 8th. Bank of America decreased their target price on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research report on Thursday, August 8th. Royal Bank of Canada restated an “outperform” rating and set a $700.00 price target on shares of HubSpot in a research report on Thursday, August 8th. Finally, BMO Capital Markets reduced their price target on HubSpot from $635.00 to $570.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and a consensus price target of $610.79.

HubSpot Trading Up 1.4 %

NYSE:HUBS opened at $500.02 on Friday. The stock has a market cap of $25.48 billion, a price-to-earnings ratio of -188.69 and a beta of 1.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32. The company’s 50 day moving average price is $511.51 and its 200-day moving average price is $579.45. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS 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 return on equity of 4.94% and a negative net margin of 5.78%. The company’s revenue was up 20.4% compared to the same quarter last year. During the same period last year, the business posted ($1.17) EPS. On average, equities research analysts forecast that HubSpot, Inc. will post -0.44 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.