Fortis Group Advisors LLC Has $265,000 Holdings in HubSpot, Inc. (NYSE:HUBS)

Fortis Group Advisors LLC trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 65.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 463 shares of the software maker’s stock after selling 896 shares during the period. Fortis Group Advisors LLC’s holdings in HubSpot were worth $265,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in HUBS. Wellington Management Group LLP lifted its position in shares of HubSpot by 5.3% during the 4th quarter. Wellington Management Group LLP now owns 1,477,190 shares of the software maker’s stock valued at $1,029,262,000 after acquiring an additional 74,990 shares during the period. Massachusetts Financial Services Co. MA grew its position in HubSpot by 37.3% during the first quarter. Massachusetts Financial Services Co. MA now owns 927,927 shares of the software maker’s stock valued at $530,115,000 after acquiring an additional 251,853 shares during the last quarter. Geode Capital Management LLC lifted its stake in HubSpot by 1.2% in the fourth quarter. Geode Capital Management LLC now owns 830,405 shares of the software maker’s stock worth $577,572,000 after acquiring an additional 9,922 shares during the period. Groupama Asset Managment lifted its position in HubSpot by 3.8% during the fourth quarter. Groupama Asset Managment now owns 726,799 shares of the software maker’s stock valued at $506,412,000 after buying an additional 26,799 shares during the period. Finally, Norges Bank bought a new stake in HubSpot in the 4th quarter worth about $420,345,000. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HUBS. Mizuho decreased their price objective on HubSpot from $900.00 to $700.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. Morgan Stanley lifted their price target on HubSpot from $659.00 to $752.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Jefferies Financial Group lowered their price target on HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. The Goldman Sachs Group cut their price objective on HubSpot from $900.00 to $795.00 and set a “buy” rating on the stock in a report on Friday, May 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 price objective on shares of HubSpot in a research report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and an average price target of $761.54.

HubSpot Stock Performance

Shares of NYSE HUBS opened at $528.41 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The firm’s 50-day simple moving average is $582.17 and its 200 day simple moving average is $633.40. The stock has a market cap of $27.87 billion, a price-to-earnings ratio of -1,174.25, a PEG ratio of 20.13 and a beta of 1.66.

Insiders Place Their Bets

In related news, CEO Yamini Rangan sold 2,383 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at $35,269,313.22. This represents a 3.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the firm’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. The trade was a 1.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock valued at $11,336,616 over the last three months. Insiders own 4.50% of the company’s stock.

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.