State of Michigan Retirement System Has $74.14 Million Position in HubSpot, Inc. (NYSE:HUBS)

State of Michigan Retirement System raised its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 87.7% in the 4th quarter, HoldingsChannel reports. The firm owned 106,400 shares of the software maker’s stock after buying an additional 49,700 shares during the period. State of Michigan Retirement System’s holdings in HubSpot were worth $74,136,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB raised its position in shares of HubSpot by 73.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock valued at $31,000 after purchasing an additional 19 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in HubSpot in the 3rd quarter valued at about $25,000. Bank of Jackson Hole Trust bought a new position in HubSpot in the 4th quarter valued at about $35,000. Friedenthal Financial acquired a new stake in HubSpot during the fourth quarter worth approximately $50,000. Finally, Crewe Advisors LLC lifted its position 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 last quarter. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Performance

Shares of HubSpot stock opened at $706.84 on Tuesday. The stock has a 50 day moving average price of $739.53 and a two-hundred day moving average price of $644.10. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The stock has a market capitalization of $36.86 billion, a PE ratio of 7,854.65, a price-to-earnings-growth ratio of 41.44 and a beta of 1.72.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. Research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HUBS. Piper Sandler increased their target price on HubSpot from $640.00 to $808.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. BMO Capital Markets increased their price objective on HubSpot from $690.00 to $885.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Barclays reissued an “equal weight” rating on shares of HubSpot in a report on Thursday, February 13th. Royal Bank of Canada upped their price target on shares of HubSpot from $825.00 to $950.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Finally, Morgan Stanley raised their price target on shares of HubSpot from $835.00 to $898.00 and gave the stock an “overweight” rating in a research report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and a consensus target price of $863.96.

Insider Buying and Selling at HubSpot

In other HubSpot news, CFO Kathryn Bueker sold 1,796 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $1,260,055.64. Following the completion of the sale, the chief financial officer now directly owns 38,560 shares of the company’s stock, valued at approximately $27,053,310.40. This represents a 4.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total transaction of $6,885,000.00. Following the completion of the sale, the insider now owns 524,751 shares of the company’s stock, valued at approximately $425,048,310. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,997 shares of company stock worth $35,796,526. Insiders own 4.50% of the company’s stock.

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.