Quarry LP Acquires New Position in HubSpot, Inc. (NYSE:HUBS)

Quarry LP acquired a new stake in HubSpot, Inc. (NYSE:HUBS) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 248 shares of the software maker’s stock, valued at approximately $146,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewEdge Advisors LLC boosted its stake in HubSpot by 2.2% in the second quarter. NewEdge Advisors LLC now owns 3,344 shares of the software maker’s stock valued at $1,972,000 after acquiring an additional 72 shares during the period. Clearline Capital LP acquired a new position in HubSpot in the second quarter valued at approximately $17,542,000. Algert Global LLC acquired a new position in HubSpot in the second quarter valued at approximately $542,000. Susquehanna Fundamental Investments LLC acquired a new position in HubSpot in the second quarter valued at approximately $629,000. Finally, Lighthouse Investment Partners LLC acquired a new position in HubSpot in the second quarter valued at approximately $10,817,000. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Down 0.8 %

HubSpot stock opened at $531.59 on Tuesday. The company’s fifty day simple moving average is $495.96 and its 200-day simple moving average is $562.27. HubSpot, Inc. has a 12 month low of $407.23 and a 12 month high of $693.85. The stock has a market cap of $27.09 billion, a P/E ratio of -200.60, a P/E/G ratio of 7,010.23 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its quarterly 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. 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 period in the previous year, the company posted ($1.17) EPS. HubSpot’s revenue was up 20.4% on a year-over-year basis.

Insider Buying and Selling

In related 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 sale, 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 filing with the Securities & Exchange Commission, which is available at the SEC website. In other HubSpot news, insider Dawson Alyssa Harvey sold 384 shares of the company’s 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 completion of the sale, the insider now directly owns 9,735 shares in the company, valued at $4,548,484.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at $33,009,441.57. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,000 shares of company stock worth $18,921,939. Corporate insiders own 4.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Barclays decreased their target price on HubSpot from $575.00 to $500.00 and set an “equal weight” rating for the company in a research note on Friday, August 9th. Raymond James decreased their target price on HubSpot from $725.00 to $675.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th. BMO Capital Markets reiterated an “outperform” rating and set a $570.00 price objective on shares of HubSpot in a research report on Thursday, September 19th. UBS Group reduced their price objective on HubSpot from $580.00 to $550.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $700.00 price objective on shares of HubSpot in a research report on Thursday, September 19th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.