HubSpot, Inc. (NYSE:HUBS) Shares Purchased by Summit Global Investments

Summit Global Investments grew its stake in HubSpot, Inc. (NYSE:HUBS) by 57.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,165 shares of the software maker’s stock after purchasing an additional 2,615 shares during the period. Summit Global Investments’ holdings in HubSpot were worth $4,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of HubSpot by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,670,391 shares of the software maker’s stock valued at $2,300,168,000 after buying an additional 41,689 shares in the last quarter. JPMorgan Chase & Co. raised its stake in HubSpot by 6.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,716,774 shares of the software maker’s stock valued at $1,338,012,000 after purchasing an additional 166,381 shares during the last quarter. Wellington Management Group LLP increased its position in HubSpot by 26.0% during the third quarter. Wellington Management Group LLP now owns 1,247,345 shares of the software maker’s stock worth $614,317,000 after purchasing an additional 257,632 shares during the last quarter. Jennison Associates LLC raised its position in shares of HubSpot by 22.8% during the 4th quarter. Jennison Associates LLC now owns 972,957 shares of the software maker’s stock valued at $564,840,000 after buying an additional 180,822 shares during the period. Finally, Bank of New York Mellon Corp raised its position in HubSpot by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 799,174 shares of the software maker’s stock valued at $393,593,000 after purchasing an additional 12,109 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insider Buying and Selling

In other HubSpot news, insider Dawson Alyssa Harvey sold 969 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $610.00, for a total transaction of $591,090.00. Following the transaction, the insider now owns 7,225 shares of the company’s stock, valued at approximately $4,407,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other HubSpot news, insider Dawson Alyssa Harvey sold 969 shares of HubSpot stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $610.00, for a total value of $591,090.00. Following the completion of the sale, the insider now owns 7,225 shares in the company, valued at approximately $4,407,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total transaction of $5,407,530.00. Following the transaction, the insider now directly owns 526,041 shares of the company’s stock, valued at approximately $334,656,763.38. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,362 shares of company stock worth $14,012,491. 4.90% of the stock is owned by insiders.

HubSpot Price Performance

HubSpot stock traded down $15.91 during trading hours on Thursday, hitting $590.18. The stock had a trading volume of 622,432 shares, compared to its average volume of 492,184. The company has a quick ratio of 1.96, a current ratio of 1.96 and a debt-to-equity ratio of 0.35. HubSpot, Inc. has a 1-year low of $407.23 and a 1-year high of $693.85. The stock’s fifty day moving average is $628.72 and its two-hundred day moving average is $562.65.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.30) by $0.22. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. The firm had revenue of $581.91 million for the quarter, compared to analyst estimates of $557.48 million. As a group, analysts anticipate that HubSpot, Inc. will post -0.98 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on HUBS. Evercore ISI increased their target price on shares of HubSpot from $625.00 to $650.00 and gave the stock an “in-line” rating in a research note on Thursday, February 15th. Wolfe Research raised their price objective on shares of HubSpot from $660.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. Barclays lifted their price target on shares of HubSpot from $475.00 to $600.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. William Blair reissued an “outperform” rating on shares of HubSpot in a research report on Thursday, February 15th. Finally, Stifel Nicolaus lifted their price target on HubSpot from $700.00 to $750.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $642.36.

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.