Oppenheimer & Co. Inc. Makes New Investment in HubSpot, Inc. (NYSE:HUBS)

Oppenheimer & Co. Inc. purchased a new position in HubSpot, Inc. (NYSE:HUBS) in the first quarter, HoldingsChannel reports. The institutional investor purchased 411 shares of the software maker’s stock, valued at approximately $235,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of HubSpot by 14.9% in the first quarter. Blue Trust Inc. now owns 693 shares of the software maker’s stock worth $396,000 after buying an additional 90 shares during the last quarter. Farther Finance Advisors LLC raised its holdings in shares of HubSpot by 25.1% in the first quarter. Farther Finance Advisors LLC now owns 319 shares of the software maker’s stock worth $186,000 after buying an additional 64 shares during the last quarter. Northern Trust Corp raised its holdings in shares of HubSpot by 18.0% in the fourth quarter. Northern Trust Corp now owns 345,535 shares of the software maker’s stock worth $240,758,000 after buying an additional 52,792 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in shares of HubSpot by 35.4% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,293 shares of the software maker’s stock worth $3,596,000 after buying an additional 1,646 shares during the last quarter. Finally, Sowell Financial Services LLC purchased a new position in shares of HubSpot in the first quarter worth $226,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Up 2.6%

Shares of NYSE HUBS opened at $560.15 on Friday. The company’s 50-day simple moving average is $599.17 and its 200-day simple moving average is $645.19. HubSpot, Inc. has a 52-week low of $434.84 and a 52-week high of $881.13. The firm has a market cap of $29.54 billion, a price-to-earnings ratio of -1,244.77, a price-to-earnings-growth ratio of 19.84 and a beta of 1.66.

Analysts Set New Price Targets

A number of research firms have issued reports on HUBS. Sanford C. Bernstein assumed coverage on shares of HubSpot in a report on Thursday, March 20th. They issued a “market perform” rating and a $693.00 price target for the company. Piper Sandler upped their price target on shares of HubSpot from $535.00 to $645.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Citigroup upped their price target on shares of HubSpot from $750.00 to $759.00 and gave the company a “buy” rating in a report on Tuesday, May 13th. BNP Paribas began coverage on shares of HubSpot in a report on Tuesday, April 22nd. They issued an “outperform” rating and a $700.00 price target on the stock. Finally, Morgan Stanley upped their price target on shares of HubSpot from $659.00 to $752.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, HubSpot has a consensus rating of “Moderate Buy” and a consensus target price of $766.71.

Insider Activity

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $548.03, for a total value of $4,658,255.00. Following the sale, the director owned 523,984 shares in the company, valued at $287,158,951.52. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Kathryn Bueker sold 615 shares of HubSpot stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total transaction of $339,350.85. Following the completion of the sale, the chief financial officer owned 41,086 shares in the company, valued at approximately $22,670,843.94. This trade represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,678 shares of company stock worth $11,298,621 over the last 90 days. 4.50% of the stock is currently owned by company insiders.

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.