Connective Capital Management LLC Purchases Shares of 2,288 HubSpot, Inc. (NYSE:HUBS)

Connective Capital Management LLC purchased a new stake in HubSpot, Inc. (NYSE:HUBS) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 2,288 shares of the software maker’s stock, valued at approximately $1,594,000. HubSpot makes up 1.9% of Connective Capital Management LLC’s holdings, making the stock its 17th largest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC raised its stake in shares of HubSpot by 168.8% in the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after acquiring an additional 27 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of HubSpot by 73.1% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after acquiring an additional 19 shares during the last quarter. Coppell Advisory Solutions LLC raised its stake in shares of HubSpot by 91.7% during the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock worth $32,000 after buying an additional 22 shares during the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of HubSpot by 213.3% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock worth $33,000 after buying an additional 32 shares during the last quarter. Finally, Bank of Jackson Hole Trust bought a new stake in shares of HubSpot during the fourth quarter worth approximately $35,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of recent research reports. Canaccord Genuity Group boosted their price target on shares of HubSpot from $710.00 to $900.00 and gave the stock a “buy” rating in a research note on Thursday, February 13th. Barclays dropped their price target on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating for the company in a research note on Friday, May 9th. Royal Bank of Canada boosted their price target on shares of HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Piper Sandler boosted their price target on shares of HubSpot from $535.00 to $645.00 and gave the stock a “neutral” rating in a research note on Friday, May 9th. Finally, KeyCorp raised shares of HubSpot from a “sector weight” rating to an “overweight” rating and set a $920.00 target price for the company in a research note on Thursday, February 13th. Five investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and a consensus price target of $767.33.

Insider Transactions at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the transaction, the insider now directly owns 527,233 shares in the company, valued at $320,283,502.84. The trade was a 1.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 680 shares of the business’s stock in a transaction dated Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the transaction, the chief executive officer now owns 71,693 shares in the company, valued at $43,015,800. This represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,062 shares of company stock worth $11,516,757 in the last ninety days. Insiders own 4.50% of the company’s stock.

HubSpot Price Performance

HubSpot stock opened at $641.48 on Wednesday. The firm has a market capitalization of $33.76 billion, a PE ratio of 7,128.35, a P/E/G ratio of 41.44 and a beta of 1.78. The company’s 50-day moving average is $589.76 and its 200-day moving average is $672.30. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13.

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.