Berkshire Asset Management LLC PA Lowers Position in HubSpot, Inc. $HUBS

Berkshire Asset Management LLC PA decreased its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 14.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 433 shares of the software maker’s stock after selling 72 shares during the period. Berkshire Asset Management LLC PA’s holdings in HubSpot were worth $247,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Highview Capital Management LLC DE increased its holdings in shares of HubSpot by 4.5% in the 4th quarter. Highview Capital Management LLC DE now owns 3,011 shares of the software maker’s stock valued at $2,098,000 after acquiring an additional 129 shares during the period. Forum Financial Management LP bought a new stake in HubSpot during the fourth quarter valued at about $283,000. Dimensional Fund Advisors LP boosted its position in HubSpot by 7.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 87,019 shares of the software maker’s stock valued at $60,635,000 after purchasing an additional 5,789 shares in the last quarter. MML Investors Services LLC grew its stake in HubSpot by 4.5% in the fourth quarter. MML Investors Services LLC now owns 12,826 shares of the software maker’s stock valued at $8,937,000 after purchasing an additional 550 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in HubSpot by 215.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 983 shares of the software maker’s stock worth $685,000 after purchasing an additional 671 shares in the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Trading Down 1.1%

NYSE HUBS opened at $443.2920 on Wednesday. HubSpot, Inc. has a 12-month low of $418.34 and a 12-month high of $881.13. The company has a fifty day simple moving average of $524.91 and a two-hundred day simple moving average of $596.51. The stock has a market cap of $23.36 billion, a P/E ratio of -1,927.36, a P/E/G ratio of 15.44 and a beta of 1.66.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The firm had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. During the same period in the previous year, the company earned $1.94 earnings per share. The business’s quarterly revenue was up 19.4% compared to the same quarter last year. As a group, sell-side analysts forecast that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Insider Activity

In other news, CFO Kathryn Bueker sold 615 shares of the firm’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the completion of the transaction, the chief financial officer directly owned 41,086 shares in the company, valued at $22,670,843.94. This trade represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the sale, the chief executive officer directly owned 63,918 shares of the company’s stock, valued at $35,269,313.22. This trade represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,998 shares of company stock valued at $10,928,616. Company insiders own 4.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen raised shares of HubSpot from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. BNP Paribas began coverage on shares of HubSpot in a research report on Tuesday, April 22nd. They set an “outperform” rating and a $700.00 target price for the company. Piper Sandler upgraded shares of HubSpot from a “neutral” rating to an “overweight” rating and raised their target price for the company from $645.00 to $675.00 in a research note on Thursday, August 7th. Barclays reduced their price target on HubSpot from $745.00 to $675.00 and set an “overweight” rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company increased their price objective on HubSpot from $675.00 to $680.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $726.04.

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.