Taconic Capital Advisors LP Trims Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Taconic Capital Advisors LP cut its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 85.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,197 shares of the software maker’s stock after selling 25,000 shares during the quarter. HubSpot makes up approximately 1.2% of Taconic Capital Advisors LP’s holdings, making the stock its 11th biggest position. Taconic Capital Advisors LP’s holdings in HubSpot were worth $2,231,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC bought a new position in shares of HubSpot in the second quarter worth approximately $35,000. HM Payson & Co. boosted its holdings in HubSpot by 36.0% in the 3rd quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock worth $36,000 after buying an additional 18 shares during the period. Crewe Advisors LLC boosted its holdings in HubSpot by 525.0% in the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock worth $44,000 after buying an additional 63 shares during the period. J.Safra Asset Management Corp boosted its holdings in HubSpot by 690.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after buying an additional 76 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in HubSpot by 41.6% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock worth $64,000 after buying an additional 32 shares during the period. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on HUBS. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 target price for the company in a report on Thursday, August 8th. The Goldman Sachs Group boosted their price target on shares of HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Royal Bank of Canada boosted their price target on shares of HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Raymond James decreased their price target on shares of HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler cut shares of HubSpot from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $570.00 to $640.00 in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $672.68.

Insider Activity at HubSpot

In other news, CFO Kathryn Bueker sold 1,136 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $525.84, for a total value of $597,354.24. Following the transaction, the chief financial officer now directly owns 41,259 shares in the company, valued at approximately $21,695,632.56. This represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares in the company, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,391 shares of company stock valued at $29,101,488. Corporate insiders own 4.50% of the company’s stock.

HubSpot Stock Down 1.0 %

HUBS opened at $722.76 on Friday. The company has a fifty day moving average of $593.23 and a two-hundred day moving average of $555.52. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $754.56.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 EPS for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.04) earnings per share. Sell-side analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

HubSpot Company 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.