Oppenheimer Asset Management Inc. Cuts Stake in HubSpot, Inc. (NYSE:HUBS)

Oppenheimer Asset Management Inc. reduced its position in shares of HubSpot, Inc. (NYSE:HUBS) by 7.3% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,964 shares of the software maker’s stock after selling 392 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in HubSpot were worth $2,928,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of HUBS. Riverview Trust Co purchased a new stake in shares of HubSpot during the first quarter valued at $27,000. Geneos Wealth Management Inc. boosted its holdings in shares of HubSpot by 1,125.0% during the 1st quarter. Geneos Wealth Management Inc. now owns 49 shares of the software maker’s stock valued at $31,000 after acquiring an additional 45 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of HubSpot in the second quarter worth approximately $35,000. Crewe Advisors LLC raised its holdings in shares of HubSpot by 525.0% during 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 during the last quarter. Finally, SYSTM Wealth Solutions LLC lifted its position in HubSpot by 54.0% during the first quarter. SYSTM Wealth Solutions LLC now owns 77 shares of the software maker’s stock valued at $48,000 after purchasing an additional 27 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HUBS has been the subject of a number of research analyst reports. Evercore ISI cut their target price on shares of HubSpot from $650.00 to $550.00 and set an “in-line” rating for the company in a research report on Thursday, August 8th. Citigroup reduced their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Canaccord Genuity Group dropped their target price on HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock 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. Finally, Stifel Nicolaus dropped their price objective on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating on the stock in a report on Tuesday, July 30th. Five 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, the stock has an average rating of “Moderate Buy” and an average target price of $610.79.

HubSpot Stock Performance

HUBS stock opened at $495.37 on Tuesday. The company’s fifty day moving average price is $489.10 and its 200-day moving average price is $568.89. HubSpot, Inc. has a one year low of $407.23 and a one year high of $693.85. The company has a market capitalization of $25.25 billion, a PE ratio of -186.93, a price-to-earnings-growth ratio of 3,140.82 and a beta of 1.63.

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

Insider Activity at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 1,135 shares of HubSpot stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $672,828.00. Following the sale, the chief financial officer now owns 44,715 shares of the company’s stock, valued at approximately $26,507,052. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Yamini Rangan sold 2,877 shares of HubSpot stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the transaction, 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 is available at this hyperlink. Also, CFO Kathryn Bueker sold 1,135 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total value of $672,828.00. Following the sale, the chief financial officer now directly owns 44,715 shares in the company, valued at $26,507,052. The disclosure for this sale can be found here. Over the last three months, insiders sold 38,012 shares of company stock valued at $21,300,253. 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.