Westfield Capital Management Co. LP Decreases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Westfield Capital Management Co. LP cut its position in HubSpot, Inc. (NYSE:HUBS) by 9.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 175,760 shares of the software maker’s stock after selling 17,452 shares during the period. Westfield Capital Management Co. LP owned 0.34% of HubSpot worth $93,434,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. GDS Wealth Management acquired a new stake in HubSpot in the 3rd quarter valued at about $2,149,000. Pallas Capital Advisors LLC purchased a new stake in shares of HubSpot in the third quarter valued at approximately $624,000. Headlands Technologies LLC acquired a new stake in shares of HubSpot in the second quarter valued at approximately $3,135,000. Icon Wealth Advisors LLC lifted its position in HubSpot by 3,346.2% during the third quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock worth $11,212,000 after buying an additional 20,479 shares in the last quarter. Finally, Curi RMB Capital LLC boosted its stake in HubSpot by 15.1% during the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker’s stock worth $3,797,000 after buying an additional 937 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

HubSpot Stock Performance

Shares of HUBS stock opened at $742.61 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $745.49. The company has a 50 day moving average price of $575.54 and a 200 day moving average price of $551.49. The stock has a market capitalization of $38.33 billion, a P/E ratio of -2,750.31, a price-to-earnings-growth ratio of 87.52 and a beta of 1.63.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping the consensus estimate of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.04) earnings per share. On average, research analysts forecast that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and issued a $750.00 target price (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and set a $730.00 price objective on shares of HubSpot in a research report on Thursday, November 7th. The Goldman Sachs Group boosted their target price on shares of HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a report on Thursday, November 7th. JPMorgan Chase & Co. raised their price target on shares of HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Finally, Barclays upped their price objective on HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat, HubSpot has a consensus rating of “Moderate Buy” and a consensus price target of $672.68.

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the completion of the transaction, the insider now directly owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction 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 approximately $33,009,441.57. This trade represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,391 shares of company stock worth $29,101,488 in the last quarter. 4.50% of the stock is owned by company insiders.

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.