Pallas Capital Advisors LLC Boosts Stake in HubSpot, Inc. (NYSE:HUBS)

Pallas Capital Advisors LLC lifted its holdings in HubSpot, Inc. (NYSE:HUBS) by 38.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,590 shares of the software maker’s stock after purchasing an additional 444 shares during the quarter. Pallas Capital Advisors LLC’s holdings in HubSpot were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Farther Finance Advisors LLC raised its stake in shares of HubSpot by 25.1% in the first quarter. Farther Finance Advisors LLC now owns 319 shares of the software maker’s stock worth $186,000 after purchasing an additional 64 shares during the last quarter. Revolve Wealth Partners LLC purchased a new position in shares of HubSpot in the first quarter worth $275,000. Wedmont Private Capital purchased a new position in shares of HubSpot in the first quarter worth $223,000. Clean Yield Group purchased a new position in shares of HubSpot in the first quarter worth $41,000. Finally, Sivia Capital Partners LLC purchased a new position in shares of HubSpot in the first quarter worth $228,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Buying and Selling

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $538.60, for a total transaction of $4,578,100.00. Following the sale, the insider now directly owns 525,687 shares in the company, valued at $283,135,018.20. This represents a 1.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Yamini Rangan sold 680 shares of the company’s stock in a transaction that occurred on Thursday, April 24th. The shares were sold at an average price of $600.00, for a total value of $408,000.00. Following the sale, the chief executive officer now owns 71,693 shares in the company, 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. Corporate insiders own 4.50% of the company’s stock.

HubSpot Stock Down 4.2%

NYSE HUBS opened at $580.83 on Wednesday. The firm has a market cap of $30.63 billion, a price-to-earnings ratio of 6,454.33, a price-to-earnings-growth ratio of 41.44 and a beta of 1.70. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $881.13. The business has a 50-day moving average price of $592.41 and a 200-day moving average price of $665.77.

Analyst Upgrades and Downgrades

HUBS has been the subject of several recent analyst reports. UBS Group boosted their price target on HubSpot from $675.00 to $820.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. The Goldman Sachs Group reduced their price objective on HubSpot from $900.00 to $795.00 and set a “buy” rating for the company in a research report on Friday, May 9th. Sanford C. Bernstein began coverage on HubSpot in a research report on Thursday, March 20th. They set a “market perform” rating and a $693.00 price objective for the company. Redburn Atlantic began coverage on HubSpot in a research report on Wednesday, February 19th. They set a “buy” rating for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Four equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $766.71.

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.