Clearbridge Investments LLC Decreases Stock Position in HubSpot, Inc. (NYSE:HUBS)

Clearbridge Investments LLC trimmed its position in shares of HubSpot, Inc. (NYSE:HUBS) by 2.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,093,037 shares of the software maker’s stock after selling 31,834 shares during the quarter. Clearbridge Investments LLC owned approximately 2.12% of HubSpot worth $761,595,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Townsquare Capital LLC grew its holdings in shares of HubSpot by 93.1% during the third quarter. Townsquare Capital LLC now owns 668 shares of the software maker’s stock worth $355,000 after buying an additional 322 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in HubSpot during the third quarter worth about $509,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in HubSpot by 1.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,264 shares of the software maker’s stock valued at $15,025,000 after acquiring an additional 340 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in HubSpot by 8.2% in 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 valued at $280,186,000 after acquiring an additional 40,138 shares during the last quarter. Finally, Vinva Investment Management Ltd lifted its stake in HubSpot by 31.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 3,501 shares of the software maker’s stock worth $1,877,000 after purchasing an additional 846 shares in the last quarter. 90.39% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on HUBS shares. Oppenheimer upped their price target on HubSpot from $850.00 to $900.00 and gave the company an “outperform” rating in a research report on Thursday, February 13th. Royal Bank of Canada raised their target price on HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Scotiabank upped their price objective on shares of HubSpot from $825.00 to $900.00 and gave the company a “sector outperform” rating in a report on Thursday, February 13th. Truist Financial reaffirmed a “buy” rating and set a $900.00 price target (up previously from $750.00) on shares of HubSpot in a research report on Thursday, February 13th. Finally, Needham & Company LLC increased their price objective on HubSpot from $730.00 to $900.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $848.58.

Insider Transactions at HubSpot

In other news, CFO Kathryn Bueker sold 1,796 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $701.59, for a total value of $1,260,055.64. Following the transaction, the chief financial officer now owns 38,560 shares in the company, valued at approximately $27,053,310.40. This represents a 4.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $810.00, for a total value of $6,885,000.00. Following the sale, the insider now directly owns 524,751 shares in the company, valued at $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 three months, insiders sold 21,853 shares of company stock valued at $15,453,396. Insiders own 4.50% of the company’s stock.

HubSpot Price Performance

HUBS opened at $581.45 on Friday. The business has a fifty day moving average price of $705.35 and a 200 day moving average price of $659.01. HubSpot, Inc. has a 12 month low of $434.84 and a 12 month high of $881.13. The stock has a market capitalization of $30.32 billion, a price-to-earnings ratio of 6,461.31, a PEG 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 negative return on equity of 0.07% and a net margin of 0.17%. On average, research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current year.

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.