Worldquant Millennium Advisors LLC Purchases 1,856 Shares of HubSpot, Inc. (NYSE:HUBS)

Worldquant Millennium Advisors LLC increased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 27.4% during the 4th quarter, Holdings Channel reports. The fund owned 8,632 shares of the software maker’s stock after buying an additional 1,856 shares during the quarter. Worldquant Millennium Advisors LLC’s holdings in HubSpot were worth $6,015,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of HUBS. Norges Bank bought a new position in HubSpot during the 4th quarter worth approximately $420,345,000. Raymond James Financial Inc. bought a new position in HubSpot during the 4th quarter worth approximately $157,019,000. Wealthfront Advisers LLC boosted its stake in HubSpot by 3,090.2% during the 4th quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker’s stock worth $93,049,000 after acquiring an additional 129,357 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in HubSpot during the 4th quarter worth approximately $79,135,000. Finally, Alliancebernstein L.P. raised its holdings in HubSpot by 61.9% during the 4th quarter. Alliancebernstein L.P. now owns 286,327 shares of the software maker’s stock worth $199,504,000 after buying an additional 109,449 shares during the period. Institutional investors own 90.39% of the company’s stock.

HubSpot Trading Down 3.4%

Shares of HUBS opened at $620.05 on Thursday. The company has a market cap of $32.64 billion, a price-to-earnings ratio of 6,890.18, a PEG ratio of 41.44 and a beta of 1.78. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $881.13. The company’s fifty day simple moving average is $589.97 and its 200 day simple moving average is $671.94.

Insider Buying and Selling

In related news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the transaction, the insider now directly owns 525,687 shares in the company, valued at approximately $283,135,018.20. The trade was a 1.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 680 shares of HubSpot stock in a transaction on 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 directly owns 71,693 shares of the company’s stock, valued at approximately $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,062 shares of company stock worth $11,516,757. Insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Scotiabank dropped their target price on shares of HubSpot from $900.00 to $750.00 and set a “sector outperform” rating on the stock in a report on Thursday, April 24th. JPMorgan Chase & Co. raised their target price on shares of HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Sanford C. Bernstein assumed coverage on shares of HubSpot in a report on Thursday, March 20th. They set a “market perform” rating and a $693.00 target price on the stock. Wells Fargo & Company dropped their target price on shares of HubSpot from $940.00 to $700.00 and set an “overweight” rating on the stock in a report on Tuesday, April 22nd. Finally, Royal Bank of Canada raised their target price on shares of HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and an average price target of $767.33.

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.