LPL Financial LLC Has $20.95 Million Stake in HubSpot, Inc. (NYSE:HUBS)

LPL Financial LLC grew its position in shares of HubSpot, Inc. (NYSE:HUBS) by 15.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,676 shares of the software maker’s stock after buying an additional 4,871 shares during the quarter. LPL Financial LLC’s holdings in HubSpot were worth $20,953,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of HubSpot by 16.2% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 33,182 shares of the software maker’s stock valued at $18,957,000 after buying an additional 4,638 shares during the last quarter. Allen Investment Management LLC raised its stake in shares of HubSpot by 19.1% in the 1st quarter. Allen Investment Management LLC now owns 46,345 shares of the software maker’s stock valued at $26,476,000 after acquiring an additional 7,424 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of HubSpot by 36.9% in the 1st quarter. HB Wealth Management LLC now owns 1,069 shares of the software maker’s stock valued at $611,000 after acquiring an additional 288 shares in the last quarter. TD Asset Management Inc raised its stake in shares of HubSpot by 5.5% in the 1st quarter. TD Asset Management Inc now owns 57,976 shares of the software maker’s stock valued at $33,121,000 after acquiring an additional 3,030 shares in the last quarter. Finally, Mediolanum International Funds Ltd bought a new position in shares of HubSpot in the 1st quarter valued at approximately $749,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Price Performance

Shares of HUBS stock opened at $503.28 on Tuesday. The stock’s fifty day simple moving average is $557.95 and its 200 day simple moving average is $618.66. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of -1,118.39, a P/E/G ratio of 18.13 and a beta of 1.66. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on HUBS. Mizuho cut their price objective on HubSpot from $900.00 to $700.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. Needham & Company LLC reissued a “buy” rating and issued a $900.00 price objective on shares of HubSpot in a research note on Friday, May 9th. Citigroup raised their price objective on HubSpot from $750.00 to $759.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Raymond James Financial reissued an “outperform” rating and issued a $825.00 price objective (down from $980.00) on shares of HubSpot in a research note on Friday, May 9th. Finally, Piper Sandler lifted their price target on HubSpot from $535.00 to $645.00 and gave the stock a “neutral” rating in a research report on Friday, May 9th. Five research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, HubSpot currently has an average rating of “Moderate Buy” and a consensus target price of $759.04.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 2,383 shares of the business’s stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the sale, the chief executive officer owned 63,918 shares of the company’s stock, valued at $35,269,313.22. The trade was a 3.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kathryn Bueker sold 615 shares of the business’s stock in a transaction on Wednesday, July 2nd. The shares were sold at an average price of $551.79, for a total value of $339,350.85. Following the completion of the sale, the chief financial officer directly owned 41,086 shares in the company, valued at approximately $22,670,843.94. This represents a 1.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,998 shares of company stock valued at $10,928,616 in the last 90 days. 4.50% of the stock is owned by corporate insiders.

HubSpot Company 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.