Insider Selling: HubSpot, Inc. (NYSE:HUBS) Insider Sells 8,500 Shares of Stock

HubSpot, Inc. (NYSE:HUBS) insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the sale, the insider now owns 513,698 shares in the company, valued at approximately $339,857,459.82. The trade was a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

HubSpot Stock Performance

Shares of HUBS stock opened at $742.74 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $745.49. The firm has a market capitalization of $38.34 billion, a PE ratio of -2,750.89, a P/E/G ratio of 82.97 and a beta of 1.63. The stock’s 50-day simple moving average is $575.54 and its 200-day simple moving average is $551.94.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in HUBS. GDS Wealth Management purchased a new position in shares of HubSpot during the 3rd quarter valued at about $2,149,000. Pallas Capital Advisors LLC acquired a new stake in HubSpot during the third quarter worth about $624,000. Headlands Technologies LLC purchased a new position in HubSpot during the second quarter valued at approximately $3,135,000. Curi RMB Capital LLC lifted its holdings in HubSpot by 15.1% in the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker’s stock valued at $3,797,000 after acquiring an additional 937 shares during the period. Finally, Icon Wealth Advisors LLC boosted its position in HubSpot by 3,346.2% in the 3rd quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock worth $11,212,000 after purchasing an additional 20,479 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group increased their target price on HubSpot from $600.00 to $710.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Truist Financial reiterated a “buy” rating and set a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a report on Friday, November 8th. The Goldman Sachs Group boosted their price objective on shares of HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Evercore ISI raised their target price on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company boosted their price target on HubSpot from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, the company 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.