Allianz Asset Management GmbH Sells 18,707 Shares of HubSpot, Inc. $HUBS

Allianz Asset Management GmbH trimmed its position in HubSpot, Inc. (NYSE:HUBS) by 36.7% during the third quarter, HoldingsChannel.com reports. The fund owned 32,237 shares of the software maker’s stock after selling 18,707 shares during the period. Allianz Asset Management GmbH’s holdings in HubSpot were worth $15,080,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HUBS. Vanguard Group Inc. increased its stake in HubSpot by 2.8% in the second quarter. Vanguard Group Inc. now owns 5,391,241 shares of the software maker’s stock valued at $3,000,926,000 after purchasing an additional 144,507 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of HubSpot by 4.3% in the 2nd quarter. Geode Capital Management LLC now owns 925,938 shares of the software maker’s stock valued at $513,886,000 after buying an additional 38,096 shares during the period. Jennison Associates LLC increased its position in shares of HubSpot by 548.6% in the 2nd quarter. Jennison Associates LLC now owns 794,677 shares of the software maker’s stock valued at $442,341,000 after buying an additional 672,158 shares in the last quarter. Norges Bank acquired a new stake in HubSpot during the 2nd quarter worth $269,941,000. Finally, Alliancebernstein L.P. lifted its holdings in HubSpot by 35.0% during the second quarter. Alliancebernstein L.P. now owns 376,076 shares of the software maker’s stock worth $209,335,000 after acquiring an additional 97,469 shares in the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. KeyCorp decreased their target price on HubSpot from $775.00 to $650.00 and set an “overweight” rating for the company in a research note on Thursday, November 6th. Evercore set a $500.00 price objective on HubSpot in a research report on Thursday, November 6th. Mizuho lowered their target price on HubSpot from $700.00 to $550.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Truist Financial cut their price target on shares of HubSpot from $675.00 to $650.00 and set a “buy” rating on the stock in a research note on Friday, November 7th. Finally, BTIG Research initiated coverage on shares of HubSpot in a report on Monday, January 5th. They issued a “buy” rating and a $500.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, twenty-eight have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $578.13.

Insider Buying and Selling at HubSpot

In other news, insider Erika Ashley Fisher sold 841 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the transaction, the insider owned 10,119 shares in the company, valued at $2,408,423.19. This trade represents a 7.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, January 20th. The shares were sold at an average price of $303.38, for a total value of $2,578,730.00. Following the completion of the sale, the director directly owned 487,344 shares in the company, valued at approximately $147,850,422.72. This represents a 1.71% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,930 shares of company stock worth $9,175,604 over the last quarter. Company insiders own 4.00% of the company’s stock.

HubSpot Stock Up 4.0%

Shares of HUBS opened at $232.36 on Friday. HubSpot, Inc. has a twelve month low of $223.01 and a twelve month high of $881.13. The stock has a market capitalization of $12.17 billion, a P/E ratio of -2,904.50, a P/E/G ratio of 5.52 and a beta of 1.44. The company has a 50 day moving average of $352.50 and a 200-day moving average of $422.99.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.58 by $0.08. The business 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 revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.18 earnings per share. On average, sell-side analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

About HubSpot

HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.

The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.