Geode Capital Management LLC Buys 19,974 Shares of HubSpot, Inc. (NYSE:HUBS)

Geode Capital Management LLC grew its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 2.5% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 820,483 shares of the software maker’s stock after acquiring an additional 19,974 shares during the quarter. Geode Capital Management LLC owned about 1.59% of HubSpot worth $435,184,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. M&T Bank Corp increased its stake in HubSpot by 127.5% in the third quarter. M&T Bank Corp now owns 4,496 shares of the software maker’s stock valued at $2,390,000 after acquiring an additional 2,520 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in shares of HubSpot by 4.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 19,419 shares of the software maker’s stock valued at $10,323,000 after purchasing an additional 772 shares during the last quarter. MML Investors Services LLC raised its holdings in shares of HubSpot by 88.6% during the 3rd quarter. MML Investors Services LLC now owns 12,276 shares of the software maker’s stock worth $6,526,000 after buying an additional 5,767 shares in the last quarter. Zacks Investment Management lifted its position in shares of HubSpot by 3.6% during the 3rd quarter. Zacks Investment Management now owns 1,470 shares of the software maker’s stock worth $781,000 after buying an additional 51 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in HubSpot by 135.6% in the third quarter. National Bank of Canada FI now owns 563 shares of the software maker’s stock valued at $299,000 after buying an additional 324 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of research reports. Truist Financial reissued a “buy” rating and issued a $750.00 target price (up previously from $600.00) on shares of HubSpot in a report on Friday, November 8th. The Goldman Sachs Group increased their price objective on shares of HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. BMO Capital Markets boosted their target price on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Evercore ISI increased their price target on HubSpot from $610.00 to $700.00 and gave the company an “in-line” rating in a research note on Thursday, November 7th. Finally, Stifel Nicolaus boosted their price objective on HubSpot from $750.00 to $880.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $689.95.

Insider Activity at HubSpot

In other news, CEO Yamini Rangan sold 115 shares of HubSpot stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the completion of the transaction, the chief executive officer now directly owns 61,179 shares in the company, valued at $43,668,958.41. This trade represents a 0.19 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 1,136 shares of HubSpot stock in a transaction dated 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 owns 41,259 shares of the company’s stock, valued at $21,695,632.56. This trade represents a 2.68 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,390 shares of company stock valued at $29,126,596 in the last three months. Corporate insiders own 4.50% of the company’s stock.

HubSpot Stock Down 1.7 %

NYSE:HUBS opened at $722.06 on Friday. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $762.47. The company has a fifty day moving average of $637.78 and a 200-day moving average of $565.21. The firm has a market capitalization of $37.27 billion, a P/E ratio of -2,674.20, a P/E/G ratio of 88.26 and a beta of 1.70.

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