Jennison Associates LLC Grows Position in HubSpot, Inc. (NYSE:HUBS)

Jennison Associates LLC lifted its holdings in HubSpot, Inc. (NYSE:HUBS) by 28.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,345 shares of the software maker’s stock after buying an additional 24,638 shares during the period. Jennison Associates LLC owned approximately 0.22% of HubSpot worth $77,582,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of HUBS. MassMutual Private Wealth & Trust FSB raised its holdings in HubSpot by 73.1% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock valued at $31,000 after acquiring an additional 19 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of HubSpot in the third quarter valued at approximately $25,000. HM Payson & Co. increased its holdings in shares of 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 last quarter. Friedenthal Financial purchased a new position in HubSpot during the fourth quarter worth approximately $50,000. Finally, Crewe Advisors LLC boosted its stake 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 buying an additional 28 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $672.62, for a total value of $16,815,500.00. Following the transaction, the chief technology officer now directly owns 1,323,145 shares of the company’s stock, valued at $889,973,789.90. The trade was a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction on 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 sale, the insider now owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. This represents a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,066 shares of company stock worth $54,900,427 in the last ninety days. 4.50% of the stock is owned by corporate insiders.

HubSpot Trading Down 1.8 %

Shares of NYSE HUBS opened at $765.39 on Tuesday. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $811.79. The stock has a market cap of $39.51 billion, a P/E ratio of -2,834.66, a PEG ratio of 44.02 and a beta of 1.72. The business’s fifty day simple moving average is $724.40 and its 200-day simple moving average is $602.09.

HubSpot (NYSE:HUBS) last announced its quarterly 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. The company had revenue of $669.72 million for the quarter, compared to analyst estimates of $646.97 million. HubSpot had a negative net margin of 0.56% and a negative return on equity of 1.16%. The firm’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts forecast that HubSpot, Inc. will post 0.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

HUBS has been the subject of a number of recent research reports. Canaccord Genuity Group raised their target price on HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Mizuho raised their price objective on shares of HubSpot from $725.00 to $775.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Bank of America boosted their target price on shares of HubSpot from $780.00 to $850.00 and gave the company a “buy” rating in a report on Monday, December 16th. Barclays raised their price target on shares of HubSpot from $650.00 to $725.00 and gave the stock an “equal weight” rating in a report on Monday, January 27th. Finally, Truist Financial reiterated a “buy” rating and issued a $750.00 price objective (up from $600.00) on shares of HubSpot in a report on Friday, November 8th. Six analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $731.83.

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.