Kornitzer Capital Management Inc. KS Has $8.35 Million Position in HubSpot, Inc. $HUBS

Kornitzer Capital Management Inc. KS grew its position in shares of HubSpot, Inc. (NYSE:HUBS) by 25.0% during the second quarter, HoldingsChannel.com reports. The firm owned 15,000 shares of the software maker’s stock after purchasing an additional 3,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HubSpot were worth $8,349,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Whittier Trust Co. raised its holdings in HubSpot by 136.4% in the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. Hilltop National Bank acquired a new position in HubSpot in the 2nd quarter valued at approximately $32,000. Cullen Frost Bankers Inc. increased its position in HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock valued at $34,000 after acquiring an additional 34 shares during the period. N.E.W. Advisory Services LLC bought a new position in shares of HubSpot during the first quarter valued at $35,000. Finally, GW&K Investment Management LLC lifted its holdings in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker’s stock worth $45,000 after purchasing an additional 53 shares during the period. 90.39% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on HUBS shares. UBS Group reaffirmed an “outperform” rating on shares of HubSpot in a research report on Wednesday, September 3rd. JPMorgan Chase & Co. lowered their price objective on HubSpot from $775.00 to $675.00 and set an “overweight” rating for the company in a research report on Thursday, August 7th. Barclays reduced their target price on HubSpot from $745.00 to $675.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Truist Financial decreased their target price on shares of HubSpot from $720.00 to $675.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. Finally, KeyCorp dropped their price target on shares of HubSpot from $860.00 to $775.00 and set an “overweight” rating on the stock in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HubSpot presently has a consensus rating of “Moderate Buy” and an average target price of $717.75.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,387 shares of the business’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $1,193,500.00. Following the completion of the sale, the chief executive officer directly owned 56,277 shares of the company’s stock, valued at $28,138,500. The trade was a 4.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the company’s stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $307,500.00. Following the transaction, the chief financial officer directly owned 38,794 shares in the company, valued at approximately $19,397,000. This trade represents a 1.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,863 shares of company stock worth $24,641,332 over the last three months. 4.00% of the stock is currently owned by company insiders.

HubSpot Stock Performance

HubSpot stock opened at $469.72 on Friday. The stock has a market capitalization of $24.75 billion, a price-to-earnings ratio of -2,042.26, a PEG ratio of 16.20 and a beta of 1.58. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The stock’s 50 day moving average price is $475.71 and its two-hundred day moving average price is $533.27.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. HubSpot’s quarterly revenue was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.94 EPS. On average, equities research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

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.