Principal Financial Group Inc. Sells 7,048 Shares of HubSpot, Inc. (NYSE:HUBS)

Principal Financial Group Inc. lowered its position in shares of HubSpot, Inc. (NYSE:HUBS) by 21.5% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,736 shares of the software maker’s stock after selling 7,048 shares during the quarter. Principal Financial Group Inc.’s holdings in HubSpot were worth $13,681,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in HUBS. Oddo BHF Asset Management Sas bought a new stake in shares of HubSpot in the third quarter worth about $740,000. Wilmington Savings Fund Society FSB bought a new stake in shares of HubSpot in the 3rd quarter worth approximately $25,000. Coldstream Capital Management Inc. increased its stake in shares of HubSpot by 40.8% during the third quarter. Coldstream Capital Management Inc. now owns 783 shares of the software maker’s stock valued at $433,000 after buying an additional 227 shares during the period. Synergy Financial Group LTD raised its holdings in shares of HubSpot by 14.2% during the third quarter. Synergy Financial Group LTD now owns 933 shares of the software maker’s stock valued at $496,000 after acquiring an additional 116 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in HubSpot by 2.5% in the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock worth $435,184,000 after acquiring an additional 19,974 shares during the period. Institutional investors own 90.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on HUBS shares. Bank of America boosted their price objective on shares of HubSpot from $780.00 to $850.00 and gave the company a “buy” rating in a research report on Monday, December 16th. Evercore ISI increased their price target on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a research note on Thursday, November 7th. BMO Capital Markets raised their price objective on shares of HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Barclays upped their target price on HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, UBS Group upgraded HubSpot from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 16th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $702.23.

HubSpot Stock Down 2.3 %

Shares of NYSE HUBS opened at $708.16 on Friday. The company has a 50 day moving average of $673.57 and a 200 day moving average of $572.75. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $762.47. The firm has a market cap of $36.56 billion, a P/E ratio of -2,622.72, a PEG ratio of 88.26 and a beta of 1.70.

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

Insider Activity

In other news, CEO Yamini Rangan sold 1,507 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total transaction of $792,440.88. Following the transaction, the chief executive officer now directly owns 62,668 shares of the company’s stock, valued at $32,953,341.12. This represents a 2.35 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Brian Halligan sold 8,500 shares of HubSpot stock in a transaction 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 directly owns 513,698 shares of the company’s stock, valued at $339,857,459.82. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,462 shares of company stock valued at $54,220,551 in the last 90 days. 4.50% of the stock is currently owned by 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.