Wrapmanager Inc. Cuts Stake in HubSpot, Inc. (NYSE:HUBS)

Wrapmanager Inc. reduced its stake in HubSpot, Inc. (NYSE:HUBS) by 20.5% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,014 shares of the software maker’s stock after selling 262 shares during the period. Wrapmanager Inc.’s holdings in HubSpot were worth $539,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Caprock Group LLC boosted its holdings in shares of HubSpot by 16.8% in the 3rd quarter. Caprock Group LLC now owns 673 shares of the software maker’s stock worth $358,000 after buying an additional 97 shares during the last quarter. Aviso Wealth Management boosted its holdings in shares of HubSpot by 26.3% in the 3rd quarter. Aviso Wealth Management now owns 1,762 shares of the software maker’s stock worth $936,000 after buying an additional 367 shares during the last quarter. Quest Partners LLC boosted its holdings in shares of HubSpot by 125.6% in the 3rd quarter. Quest Partners LLC now owns 871 shares of the software maker’s stock worth $463,000 after buying an additional 485 shares during the last quarter. Swiss National Bank boosted its holdings in shares of HubSpot by 0.8% in the 3rd quarter. Swiss National Bank now owns 143,700 shares of the software maker’s stock worth $76,391,000 after buying an additional 1,100 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of HubSpot by 10.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 33,559 shares of the software maker’s stock worth $17,840,000 after buying an additional 3,270 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kathryn Bueker sold 4,381 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $3,066,700.00. Following the completion of the sale, the chief financial officer now owns 41,259 shares of the company’s stock, valued at $28,881,300. This trade represents a 9.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Yamini Rangan sold 1,507 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $525.84, for a total value of $792,440.88. Following the completion of the sale, the chief executive officer now directly owns 62,668 shares of the company’s stock, valued at $32,953,341.12. The trade was a 2.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,891 shares of company stock valued at $6,662,473. 4.50% of the stock is currently owned by company insiders.

Analyst Ratings Changes

HUBS has been the topic of a number of research analyst reports. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target on the stock in a report on Thursday, August 8th. Wells Fargo & Company upped their price objective on shares of HubSpot from $625.00 to $750.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Truist Financial reaffirmed a “buy” rating and set a $750.00 price objective (up from $600.00) on shares of HubSpot in a report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $730.00 price objective on shares of HubSpot in a report on Thursday, November 7th. Finally, Citigroup dropped their price objective on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Five analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $672.68.

HubSpot Stock Performance

HUBS stock opened at $668.28 on Tuesday. The company’s 50 day moving average is $558.24 and its 200 day moving average is $548.30. HubSpot, Inc. has a 1-year low of $434.84 and a 1-year high of $724.61.

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

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.