Icon Wealth Advisors LLC Acquires 20,479 Shares of HubSpot, Inc. (NYSE:HUBS)

Icon Wealth Advisors LLC boosted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 3,346.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,091 shares of the software maker’s stock after buying an additional 20,479 shares during the quarter. HubSpot makes up about 0.4% of Icon Wealth Advisors LLC’s investment portfolio, making the stock its 27th largest holding. Icon Wealth Advisors LLC’s holdings in HubSpot were worth $11,212,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of HubSpot by 25.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 1,170 shares of the software maker’s stock worth $733,000 after buying an additional 234 shares during the period. UniSuper Management Pty Ltd raised its stake in HubSpot by 75.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 700 shares of the software maker’s stock worth $439,000 after acquiring an additional 300 shares during the period. Advisors Asset Management Inc. raised its stake in HubSpot by 38.2% during the 1st quarter. Advisors Asset Management Inc. now owns 1,306 shares of the software maker’s stock worth $818,000 after acquiring an additional 361 shares during the period. Quadrature Capital Ltd lifted its holdings in HubSpot by 58.7% during the first quarter. Quadrature Capital Ltd now owns 1,751 shares of the software maker’s stock valued at $1,097,000 after purchasing an additional 648 shares in the last quarter. Finally, LRI Investments LLC bought a new position in shares of HubSpot in the first quarter worth approximately $208,000. 90.39% of the stock is owned by hedge funds and other institutional investors.

HubSpot Stock Performance

Shares of NYSE HUBS opened at $718.24 on Friday. The business’s 50 day moving average price is $570.51 and its 200-day moving average price is $551.07. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $728.90. The company has a market cap of $37.08 billion, a price-to-earnings ratio of -2,660.15, a PEG ratio of 82.97 and a beta of 1.63.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping the consensus estimate of $1.91 by $0.27. The business had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period last year, the company earned ($0.04) earnings per share. Sell-side analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total transaction of $16,815,500.00. Following the transaction, the chief technology officer now owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 44,391 shares of company stock valued at $29,101,488 in the last three months. Company insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on HUBS. Canaccord Genuity Group lifted their target price on shares of HubSpot from $600.00 to $710.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. The Goldman Sachs Group boosted their price target on HubSpot from $626.00 to $690.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Piper Sandler cut shares of HubSpot from an “overweight” rating to a “neutral” rating and lifted their price objective for the company from $570.00 to $640.00 in a research report on Thursday, November 7th. BMO Capital Markets upped their target price on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, Citigroup reduced their price target on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $672.68.

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.