Varma Mutual Pension Insurance Co Invests $9.23 Million in HubSpot, Inc. (NYSE:HUBS)

Varma Mutual Pension Insurance Co acquired a new stake in shares of HubSpot, Inc. (NYSE:HUBS) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 15,650 shares of the software maker’s stock, valued at approximately $9,230,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gilbert & Cook Inc. boosted its holdings in shares of HubSpot by 60.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,965 shares of the software maker’s stock valued at $1,141,000 after acquiring an additional 737 shares during the last quarter. Private Advisor Group LLC grew its position in HubSpot by 32.6% in the 4th quarter. Private Advisor Group LLC now owns 1,227 shares of the software maker’s stock worth $712,000 after purchasing an additional 302 shares during the period. Lincoln National Corp raised its stake in HubSpot by 2.6% during the 4th quarter. Lincoln National Corp now owns 666 shares of the software maker’s stock valued at $387,000 after buying an additional 17 shares during the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of HubSpot by 5.3% during the 4th quarter. Apollon Wealth Management LLC now owns 514 shares of the software maker’s stock valued at $298,000 after buying an additional 26 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of HubSpot by 3.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 174,646 shares of the software maker’s stock valued at $101,389,000 after buying an additional 6,574 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Insider Buying and Selling at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the sale, the insider now owns 518,152 shares in the company, valued at approximately $244,707,645.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on 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 completion of the sale, the insider now directly owns 518,152 shares in the company, valued at $244,707,645.04. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of HubSpot stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $467.23, for a total transaction of $179,416.32. Following the sale, the insider now owns 9,735 shares of the company’s stock, valued at approximately $4,548,484.05. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock worth $21,300,253 over the last quarter. Insiders own 4.50% of the company’s stock.

Analyst Ratings Changes

HUBS has been the subject of a number of research reports. Needham & Company LLC reiterated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research report on Thursday, August 8th. KeyCorp upgraded 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 note on Thursday, August 8th. Barclays cut their target price on shares of HubSpot from $575.00 to $500.00 and set an “equal weight” rating for the company in a research report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $700.00 price target on shares of HubSpot in a research report on Thursday, August 8th. Finally, Citigroup dropped their price target on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Five equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, HubSpot has an average rating of “Moderate Buy” and a consensus price target of $610.79.

HubSpot Stock Performance

HUBS stock opened at $494.94 on Tuesday. The firm has a fifty day moving average price of $498.55 and a 200 day moving average price of $573.05. HubSpot, Inc. has a fifty-two week low of $407.23 and a fifty-two week high of $693.85. The firm has a market cap of $25.42 billion, a PE ratio of -186.77, a price-to-earnings-growth ratio of 3,132.37 and a beta of 1.63.

HubSpot (NYSE:HUBS) last announced its earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.30. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The firm had revenue of $637.20 million during the quarter, compared to analysts’ expectations of $619.28 million. During the same quarter in the previous year, the business earned ($1.17) EPS. The company’s quarterly revenue was up 20.4% on a year-over-year basis. On average, equities analysts predict that HubSpot, Inc. will post 0.01 EPS for the current 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.