HubSpot, Inc. (NYSE:HUBS) Shares Acquired by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC raised its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 217.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 2,320 shares of the software maker’s stock after purchasing an additional 1,590 shares during the period. Pier 88 Investment Partners LLC’s holdings in HubSpot were worth $1,617,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the stock. Norges Bank acquired a new stake in HubSpot during the fourth quarter worth approximately $420,345,000. Wellington Management Group LLP boosted its holdings in shares of HubSpot by 52.2% during the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after purchasing an additional 480,796 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of HubSpot in the fourth quarter valued at $157,019,000. Wealthfront Advisers LLC increased its stake in HubSpot by 3,090.2% in the fourth quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker’s stock valued at $93,049,000 after purchasing an additional 129,357 shares during the last quarter. Finally, Proficio Capital Partners LLC purchased a new position in HubSpot during the fourth quarter worth about $79,135,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Trading Down 2.0 %

Shares of HUBS opened at $581.45 on Monday. The firm has a market cap 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 52 week low of $434.84 and a 52 week high of $881.13. The stock has a 50 day moving average of $705.35 and a 200-day moving average of $660.14.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 EPS 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%. On average, sell-side analysts predict that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Stephens began coverage on HubSpot in a report on Wednesday, March 19th. They issued an “overweight” rating and a $769.00 price target for the company. Jefferies Financial Group upped their price target on shares of HubSpot from $860.00 to $900.00 and gave the stock a “buy” rating in a research report on Monday, February 3rd. BMO Capital Markets lifted their price target on shares of HubSpot from $690.00 to $885.00 and gave the company an “outperform” rating in a report on Thursday, February 13th. Piper Sandler upped their price objective on HubSpot from $640.00 to $808.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Barclays upgraded HubSpot from an “equal weight” rating to an “overweight” rating and set a $815.00 target price on the stock in a report on Wednesday, March 12th. Five equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, HubSpot presently has an average rating of “Moderate Buy” and an average price target of $848.58.

Insider Buying and Selling

In other HubSpot news, CEO Yamini Rangan sold 3,057 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $701.59, for a total value of $2,144,760.63. Following the sale, the chief executive officer now directly owns 54,079 shares in the company, valued at approximately $37,941,285.61. This trade represents a 5.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on 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 transaction, the insider now directly owns 524,751 shares of the company’s stock, valued at approximately $425,048,310. This trade represents a 1.59 % 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 over the last quarter. 4.50% of the stock is owned by company insiders.

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.