Clearline Capital LP Makes New $17.54 Million Investment in HubSpot, Inc. (NYSE:HUBS)

Clearline Capital LP acquired a new stake in HubSpot, Inc. (NYSE:HUBS) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,742 shares of the software maker’s stock, valued at approximately $17,542,000. HubSpot accounts for about 0.5% of Clearline Capital LP’s investment portfolio, making the stock its 22nd biggest position.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of HubSpot by 2.6% in the fourth quarter. Vanguard Group Inc. now owns 4,790,390 shares of the software maker’s stock valued at $2,781,013,000 after buying an additional 119,999 shares in the last quarter. Hsbc Holdings PLC increased its stake in HubSpot by 10.1% in the fourth quarter. Hsbc Holdings PLC now owns 22,402 shares of the software maker’s stock valued at $13,022,000 after purchasing an additional 2,057 shares during the period. Stifel Financial Corp raised its stake in HubSpot by 15.1% during the 4th quarter. Stifel Financial Corp now owns 33,248 shares of the software maker’s stock valued at $19,302,000 after acquiring an additional 4,371 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of HubSpot by 74.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock worth $2,117,000 after purchasing an additional 1,560 shares during the last quarter. Finally, M&G Plc purchased a new stake in shares of HubSpot in the first quarter valued at about $8,533,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Performance

HubSpot stock opened at $536.00 on Friday. HubSpot, Inc. has a 1 year low of $407.23 and a 1 year high of $693.85. The firm has a 50 day moving average price of $494.98 and a 200 day moving average price of $563.40. The company has a market cap of $27.32 billion, a price-to-earnings ratio of -202.26, a PEG ratio of 7,010.23 and a beta of 1.63.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. During the same period last year, the company posted ($1.17) EPS. The business’s quarterly revenue was up 20.4% on a year-over-year basis.

Insider Activity

In related news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 518,152 shares in the company, valued at $244,707,645.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CEO Yamini Rangan sold 116 shares of the company’s 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 in the company, valued at $33,009,441.57. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the completion of the transaction, the insider now directly owns 518,152 shares of the company’s stock, valued at $244,707,645.04. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock valued at $21,300,253 in the last three months. Corporate insiders own 4.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HUBS. Canaccord Genuity Group reduced their price target on HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Truist Financial reissued a “buy” rating and issued a $600.00 target price (down previously from $700.00) on shares of HubSpot in a report on Thursday, August 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 price target on shares of HubSpot in a research note on Thursday, September 19th. UBS Group lowered their target price on shares of HubSpot from $580.00 to $550.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Finally, Piper Sandler reiterated an “overweight” rating and set a $570.00 price target on shares of HubSpot in a research report on Thursday, September 19th. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and a consensus price target of $610.79.

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.