Citigroup Inc. Grows Stake in HubSpot, Inc. $HUBS

Citigroup Inc. grew its position in HubSpot, Inc. (NYSE:HUBS) by 32.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 50,846 shares of the software maker’s stock after buying an additional 12,527 shares during the quarter. Citigroup Inc.’s holdings in HubSpot were worth $23,786,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of HubSpot by 6.4% in the third quarter. Vanguard Group Inc. now owns 5,736,765 shares of the software maker’s stock valued at $2,683,659,000 after acquiring an additional 345,524 shares in the last quarter. Geode Capital Management LLC raised 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 purchasing an additional 38,096 shares in the last quarter. Norges Bank purchased a new stake in shares of HubSpot in the 2nd quarter worth approximately $269,941,000. Alliancebernstein L.P. boosted its stake in shares of HubSpot by 35.0% during the second quarter. Alliancebernstein L.P. now owns 376,076 shares of the software maker’s stock valued at $209,335,000 after purchasing an additional 97,469 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in HubSpot by 2.1% during the second quarter. Legal & General Group Plc now owns 342,617 shares of the software maker’s stock valued at $190,711,000 after buying an additional 7,037 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on HUBS shares. Rothschild & Co Redburn lowered HubSpot from a “strong-buy” rating to a “hold” rating in a report on Monday, November 10th. Royal Bank Of Canada reduced their price target on HubSpot from $800.00 to $400.00 and set an “outperform” rating for the company in a research report on Thursday, February 12th. Piper Sandler dropped their price objective on HubSpot from $400.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, February 12th. Morgan Stanley reiterated an “overweight” rating on shares of HubSpot in a research note on Thursday, February 12th. Finally, Citigroup boosted their target price on shares of HubSpot from $600.00 to $640.00 and gave the stock a “buy” rating in a report on Friday, February 13th. Two research analysts have rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $452.70.

HubSpot Price Performance

Shares of HUBS stock opened at $268.64 on Friday. The stock’s fifty day moving average price is $312.66 and its 200 day moving average price is $396.33. HubSpot, Inc. has a 1-year low of $207.20 and a 1-year high of $734.61. The company has a market cap of $14.17 billion, a price-to-earnings ratio of 308.78, a price-to-earnings-growth ratio of 3.65 and a beta of 1.44.

HubSpot (NYSE:HUBS) last released its quarterly earnings results on Wednesday, February 11th. The software maker reported $3.09 EPS for the quarter, beating analysts’ consensus estimates of $2.99 by $0.10. HubSpot had a return on equity of 3.64% and a net margin of 1.47%.The company had revenue of $846.75 million during the quarter, compared to analysts’ expectations of $830.65 million. During the same period last year, the business posted $2.32 earnings per share. The firm’s revenue was up 20.4% compared to the same quarter last year. As a group, equities research analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Insider Activity at HubSpot

In related news, insider Erika Ashley Fisher sold 841 shares of HubSpot stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the sale, the insider directly owned 10,119 shares in the company, valued at $2,408,423.19. This trade represents a 7.67% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following 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 26,691 shares of company stock valued at $8,136,702 over the last ninety days. 4.00% of the stock is currently owned by insiders.

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.