HubSpot, Inc. $HUBS Stock Position Trimmed by Fisher Asset Management LLC

Fisher Asset Management LLC trimmed its position in shares of HubSpot, Inc. (NYSE:HUBS) by 8.7% in the second quarter, HoldingsChannel reports. The firm owned 51,475 shares of the software maker’s stock after selling 4,891 shares during the period. Fisher Asset Management LLC’s holdings in HubSpot were worth $28,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD boosted its position in shares of HubSpot by 17.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 4,910,062 shares of the software maker’s stock worth $2,805,070,000 after buying an additional 714,980 shares during the period. Jennison Associates LLC raised its stake in HubSpot by 548.6% during the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock valued at $442,341,000 after acquiring an additional 672,158 shares in the last quarter. Norges Bank acquired a new position in HubSpot during the 2nd quarter worth $269,941,000. Vanguard Group Inc. boosted its position in HubSpot by 4.0% during the 1st quarter. Vanguard Group Inc. now owns 5,246,734 shares of the software maker’s stock worth $2,997,407,000 after acquiring an additional 201,994 shares during the period. Finally, Neuberger Berman Group LLC grew its stake in shares of HubSpot by 166.2% in the second quarter. Neuberger Berman Group LLC now owns 321,679 shares of the software maker’s stock worth $179,055,000 after purchasing an additional 200,844 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In related news, CFO Kathryn Bueker sold 615 shares of the stock in a transaction on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $307,500.00. Following the completion of the transaction, the chief financial officer owned 38,794 shares in the company, valued at $19,397,000. This trade represents a 1.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, November 18th. The stock was sold at an average price of $368.11, for a total value of $3,128,935.00. Following the completion of the transaction, the director directly owned 504,966 shares in the company, valued at $185,883,034.26. This represents a 1.66% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 51,098 shares of company stock valued at $24,062,552. Insiders own 4.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Evercore ISI set a $500.00 price objective on shares of HubSpot in a research note on Thursday, November 6th. Wall Street Zen upgraded shares of HubSpot from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Oppenheimer reduced their price target on shares of HubSpot from $750.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Piper Sandler lowered their price objective on shares of HubSpot from $675.00 to $590.00 and set an “overweight” rating on the stock in a research note on Thursday, November 6th. Finally, Rothschild Redb cut HubSpot from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $617.23.

HubSpot Price Performance

NYSE HUBS opened at $373.58 on Wednesday. HubSpot, Inc. has a 12 month low of $344.41 and a 12 month high of $881.13. The company has a market capitalization of $19.57 billion, a P/E ratio of -4,669.76, a PEG ratio of 12.66 and a beta of 1.46. The company’s 50 day simple moving average is $432.81 and its 200 day simple moving average is $495.98.

HubSpot (NYSE:HUBS) last posted its quarterly earnings results on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.58 by $0.08. The firm had revenue of $809.52 million for the quarter, compared to analyst estimates of $786.80 million. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.18 earnings per share. On average, analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current year.

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.