Assetmark Inc. Raises Stake in HubSpot, Inc. (NYSE:HUBS)

Assetmark Inc. raised its holdings in HubSpot, Inc. (NYSE:HUBS) by 43.8% during the first quarter, HoldingsChannel reports. The firm owned 12,634 shares of the software maker’s stock after buying an additional 3,851 shares during the period. Assetmark Inc.’s holdings in HubSpot were worth $7,217,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP purchased a new stake in HubSpot during the 4th quarter valued at approximately $27,000. Coppell Advisory Solutions LLC increased its holdings in shares of HubSpot by 91.7% in the fourth quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock valued at $32,000 after purchasing an additional 22 shares during the period. Aster Capital Management DIFC Ltd increased its holdings in shares of HubSpot by 213.3% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock valued at $33,000 after purchasing an additional 32 shares during the period. Cullen Frost Bankers Inc. raised its stake in shares of HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock worth $34,000 after purchasing an additional 34 shares during the last quarter. Finally, Colonial Trust Co SC lifted its holdings in shares of HubSpot by 111.1% during the fourth quarter. Colonial Trust Co SC now owns 57 shares of the software maker’s stock worth $40,000 after purchasing an additional 30 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Insiders Place Their Bets

In other HubSpot news, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $1,314,915.57. Following the completion of the sale, the chief executive officer directly owned 63,918 shares of the company’s stock, valued at approximately $35,269,313.22. The trade was a 3.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $543.07, for a total value of $4,616,095.00. Following the completion of the transaction, the director owned 522,435 shares of the company’s stock, valued at $283,718,775.45. This trade represents a 1.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock valued at $10,928,616 in the last ninety days. Insiders own 4.50% of the company’s stock.

HubSpot Stock Up 1.4%

HUBS opened at $559.81 on Monday. The firm has a market cap of $29.52 billion, a P/E ratio of -1,244.03, a PEG ratio of 20.80 and a beta of 1.66. The business’s fifty day simple moving average is $569.90 and its 200 day simple moving average is $626.14. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13.

Analyst Upgrades and Downgrades

HUBS has been the topic of several recent research reports. Jefferies Financial Group dropped their price objective on shares of HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald assumed coverage on shares of HubSpot in a research note on Tuesday, June 3rd. They set an “overweight” rating and a $775.00 price target on the stock. Truist Financial cut their price target on shares of HubSpot from $900.00 to $720.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. Oppenheimer lifted their price objective on HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Finally, Citigroup increased their target price on HubSpot from $750.00 to $759.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $759.04.

HubSpot Company 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.