HubSpot, Inc. (NYSE:HUBS) Shares Bought by M&T Bank Corp

M&T Bank Corp raised its position in HubSpot, Inc. (NYSE:HUBS) by 127.5% in the 3rd quarter, Holdings Channel reports. The fund owned 4,496 shares of the software maker’s stock after acquiring an additional 2,520 shares during the period. M&T Bank Corp’s holdings in HubSpot were worth $2,390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBS. HM Payson & Co. lifted its position in HubSpot by 36.0% in the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after purchasing an additional 18 shares during the period. Hazlett Burt & Watson Inc. lifted its holdings in shares of HubSpot by 19.5% in the 2nd quarter. Hazlett Burt & Watson Inc. now owns 153 shares of the software maker’s stock valued at $91,000 after buying an additional 25 shares during the period. Motley Fool Asset Management LLC lifted its holdings in shares of HubSpot by 2.6% in the 3rd quarter. Motley Fool Asset Management LLC now owns 1,028 shares of the software maker’s stock valued at $541,000 after buying an additional 26 shares during the period. V Square Quantitative Management LLC boosted its stake in shares of HubSpot by 3.0% in the third quarter. V Square Quantitative Management LLC now owns 929 shares of the software maker’s stock valued at $494,000 after buying an additional 27 shares in the last quarter. Finally, Crewe Advisors LLC grew its holdings in HubSpot by 37.3% during the third quarter. Crewe Advisors LLC now owns 103 shares of the software maker’s stock worth $55,000 after acquiring an additional 28 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Price Performance

NYSE:HUBS opened at $722.06 on Friday. The firm has a market cap of $37.27 billion, a PE ratio of -2,674.20, a P/E/G ratio of 88.26 and a beta of 1.70. The firm has a 50 day simple moving average of $637.78 and a 200-day simple moving average of $565.21. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $762.47.

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

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of recent analyst reports. Piper Sandler downgraded HubSpot from an “overweight” rating to a “neutral” rating and raised their target price for the company from $570.00 to $640.00 in a report on Thursday, November 7th. Wells Fargo & Company boosted their price objective on shares of HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a report on Thursday, November 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $730.00 target price on shares of HubSpot in a report on Thursday, November 7th. Evercore ISI boosted their price target on HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. Finally, UBS Group upped their price target on HubSpot from $550.00 to $650.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $689.95.

Insider Buying and Selling

In other HubSpot news, CFO Kathryn Bueker sold 1,136 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $597,354.24. Following the completion of the sale, the chief financial officer now directly owns 41,259 shares in the company, valued at $21,695,632.56. This represents a 2.68 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Yamini Rangan sold 1,507 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $792,440.88. Following the completion of the transaction, the chief executive officer now owns 62,668 shares in the company, valued at approximately $32,953,341.12. This trade represents a 2.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 44,390 shares of company stock valued at $29,126,596. Insiders own 4.50% of the company’s stock.

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.