Norges Bank Makes New $420.35 Million Investment in HubSpot, Inc. (NYSE:HUBS)

Norges Bank acquired a new stake in HubSpot, Inc. (NYSE:HUBS) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 603,277 shares of the software maker’s stock, valued at approximately $420,345,000.

Several other institutional investors and hedge funds have also recently modified their holdings of HUBS. Wilmington Savings Fund Society FSB acquired a new position in HubSpot in the 3rd quarter valued at about $25,000. Larson Financial Group LLC grew its holdings in shares of HubSpot by 168.8% in the fourth quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock valued at $30,000 after purchasing an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in HubSpot by 73.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after buying an additional 19 shares during the period. Bank of Jackson Hole Trust acquired a new stake in HubSpot during the 4th quarter worth approximately $35,000. Finally, Murphy & Mullick Capital Management Corp purchased a new position in HubSpot in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

HUBS has been the topic of a number of recent research reports. Royal Bank of Canada upped their price objective on HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a research report on Thursday, February 13th. Jefferies Financial Group upped their price target on HubSpot from $860.00 to $900.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Raymond James lifted their price objective on HubSpot from $750.00 to $980.00 and gave the company an “outperform” rating in a research note on Thursday, February 13th. Scotiabank upped their target price on shares of HubSpot from $825.00 to $900.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 13th. Finally, UBS Group raised shares of HubSpot from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Five investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $848.58.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $581.45 on Friday. The stock has a market capitalization of $30.32 billion, a price-to-earnings ratio of 6,461.31, a PEG ratio of 41.44 and a beta of 1.80. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The company has a 50-day simple moving average of $705.35 and a 200-day simple moving average of $657.85.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. As a group, research analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, insider Brian Halligan sold 8,500 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total transaction of $6,885,000.00. Following the completion of the transaction, the insider now directly owns 524,751 shares of the company’s stock, valued at $425,048,310. This represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Kathryn Bueker sold 1,796 shares of HubSpot stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $1,260,055.64. Following the completion of the sale, the chief financial officer now directly owns 38,560 shares in the company, valued at $27,053,310.40. This represents a 4.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 21,853 shares of company stock worth $15,453,396 in 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.