1776 Wealth LLC Purchases New Stake in HubSpot, Inc. (NYSE:HUBS)

1776 Wealth LLC acquired a new stake in HubSpot, Inc. (NYSE:HUBS) during the fourth quarter, HoldingsChannel reports. The fund acquired 400 shares of the software maker’s stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in HubSpot by 52.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after buying an additional 480,796 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of HubSpot by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock worth $435,184,000 after buying an additional 19,974 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of HubSpot by 3.8% during the 4th quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock worth $469,987,000 after buying an additional 24,799 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of HubSpot by 17.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after buying an additional 86,688 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after buying an additional 40,138 shares during the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Jefferies Financial Group upped their price objective on HubSpot from $860.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Raymond James increased their target price on HubSpot from $750.00 to $980.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Scotiabank increased their target price on HubSpot from $825.00 to $900.00 and gave the company a “sector outperform” rating in a research report on Thursday, February 13th. Finally, Oppenheimer increased their target price on HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Four research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $863.96.

Insider Activity at HubSpot

In related news, Director Lorrie M. Norrington sold 572 shares of HubSpot stock in a transaction that occurred on Friday, December 20th. The stock was sold at an average price of $690.00, for a total transaction of $394,680.00. Following the transaction, the director now owns 1,697 shares of the company’s stock, valued at $1,170,930. The trade was a 25.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $729.65, for a total value of $6,202,025.00. Following the sale, the insider now owns 513,698 shares in the company, valued at $374,819,745.70. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,997 shares of company stock valued at $35,796,526 over the last 90 days. Insiders own 4.50% of the company’s stock.

HubSpot Stock Performance

Shares of HubSpot stock opened at $611.22 on Thursday. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The stock has a 50 day moving average price of $729.43 and a two-hundred day moving average price of $649.98. The stock has a market capitalization of $31.88 billion, a PE ratio of 6,792.10, a price-to-earnings-growth ratio of 41.44 and a beta of 1.80.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 EPS 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.

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.