Summit Global Investments Cuts Holdings in HubSpot, Inc. (NYSE:HUBS)

Summit Global Investments reduced its stake in HubSpot, Inc. (NYSE:HUBS) by 25.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,170 shares of the software maker’s stock after selling 395 shares during the period. Summit Global Investments’ holdings in HubSpot were worth $690,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in HubSpot by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock worth $3,025,964,000 after acquiring an additional 39,098 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in HubSpot by 10.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock worth $1,211,535,000 after buying an additional 176,336 shares during the last quarter. Wellington Management Group LLP grew its position in HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after buying an additional 626,977 shares during the last quarter. Jennison Associates LLC grew its position in HubSpot by 62.1% in the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock worth $988,406,000 after buying an additional 604,554 shares during the last quarter. Finally, Norges Bank purchased a new position in HubSpot during the 4th quarter worth approximately $311,236,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at HubSpot

In other 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 owns 9,735 shares of the company’s stock, valued at approximately $4,548,484.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other HubSpot news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the transaction, the insider now directly owns 518,152 shares in the company, valued at approximately $244,707,645.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawson Alyssa Harvey sold 384 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $467.23, for a total value of $179,416.32. Following the transaction, the insider now owns 9,735 shares of the company’s stock, valued at $4,548,484.05. The disclosure for this sale can be found here. Insiders sold a total of 42,938 shares of company stock valued at $24,451,825 in the last quarter. 4.50% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on HUBS. Needham & Company LLC reissued a “buy” rating and set a $730.00 target price on shares of HubSpot in a research note on Thursday, August 8th. Citigroup dropped their target price on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Raymond James dropped their price objective on shares of HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a report on Thursday, August 8th. Oppenheimer lowered their target price on shares of HubSpot from $725.00 to $625.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Finally, TD Cowen lowered their target price on shares of HubSpot from $700.00 to $680.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and an average target price of $610.79.

HubSpot Stock Performance

NYSE:HUBS traded down $9.87 on Tuesday, reaching $487.39. 689,539 shares of the company’s stock were exchanged, compared to its average volume of 648,738. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.07 and a quick ratio of 2.07. The firm has a market cap of $24.84 billion, a price-to-earnings ratio of -183.92 and a beta of 1.60. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85. The stock has a fifty day simple moving average of $520.49 and a 200-day simple moving average of $584.26.

HubSpot (NYSE:HUBS) last posted 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 5.78% and a negative return on equity of 4.94%. The firm had revenue of $637.20 million for the quarter, compared to the consensus estimate of $619.28 million. During the same period last year, the firm posted ($1.17) earnings per share. The business’s revenue was up 20.4% compared to the same quarter last year. As a group, sell-side analysts predict that HubSpot, Inc. will post -0.44 earnings per share for the current year.

HubSpot 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.