Swedbank AB cut its stake in HubSpot, Inc. (NYSE:HUBS – Free Report) by 38.6% in the 4th quarter, HoldingsChannel reports. The fund owned 14,836 shares of the software maker’s stock after selling 9,336 shares during the period. Swedbank AB’s holdings in HubSpot were worth $5,954,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in the stock. Fifth Third Bancorp boosted its holdings in shares of HubSpot by 2.5% in the third quarter. Fifth Third Bancorp now owns 1,076 shares of the software maker’s stock valued at $503,000 after acquiring an additional 26 shares in the last quarter. GPS Wealth Strategies Group LLC boosted its holdings in shares of HubSpot by 5.7% in the third quarter. GPS Wealth Strategies Group LLC now owns 522 shares of the software maker’s stock valued at $244,000 after acquiring an additional 28 shares in the last quarter. Bessemer Group Inc. boosted its holdings in shares of HubSpot by 9.1% in the third quarter. Bessemer Group Inc. now owns 335 shares of the software maker’s stock valued at $156,000 after acquiring an additional 28 shares in the last quarter. National Bank of Canada FI boosted its holdings in shares of HubSpot by 8.6% in the third quarter. National Bank of Canada FI now owns 379 shares of the software maker’s stock valued at $177,000 after acquiring an additional 30 shares in the last quarter. Finally, Westside Investment Management Inc. boosted its holdings in shares of HubSpot by 80.5% in the third quarter. Westside Investment Management Inc. now owns 74 shares of the software maker’s stock valued at $33,000 after acquiring an additional 33 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.
HubSpot Price Performance
HUBS stock opened at $198.04 on Wednesday. HubSpot, Inc. has a 12 month low of $173.25 and a 12 month high of $627.49. The firm has a market cap of $10.14 billion, a PE ratio of 103.69, a P/E/G ratio of 2.21 and a beta of 1.23. The firm has a 50 day simple moving average of $224.20 and a 200 day simple moving average of $292.60.
Analysts Set New Price Targets
Several research analysts have recently issued reports on the stock. Raymond James Financial reiterated an “outperform” rating and issued a $250.00 price objective on shares of HubSpot in a report on Friday, May 8th. JPMorgan Chase & Co. cut their target price on shares of HubSpot from $530.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. Wall Street Zen lowered shares of HubSpot from a “strong-buy” rating to a “buy” rating in a research note on Sunday, April 19th. Cantor Fitzgerald lowered shares of HubSpot from an “overweight” rating to a “neutral” rating and cut their target price for the company from $325.00 to $200.00 in a research note on Friday, May 8th. Finally, Stifel Nicolaus set a $275.00 target price on shares of HubSpot in a research note on Friday, May 8th. Twenty-two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $311.00.
Read Our Latest Report on HubSpot
Insiders Place Their Bets
In other news, Director Lorrie M. Norrington purchased 1,313 shares of HubSpot stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $190.42 per share, for a total transaction of $250,021.46. Following the transaction, the director owned 2,838 shares in the company, valued at $540,411.96. The trade was a 86.10% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Yamini Rangan purchased 2,750 shares of HubSpot stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average price of $189.84 per share, with a total value of $522,060.00. Following the transaction, the chief executive officer owned 102,982 shares in the company, valued at $19,550,102.88. This represents a 2.74% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have bought 14,063 shares of company stock worth $2,585,781 and have sold 26,207 shares worth $6,233,049. Insiders own 4.00% of the company’s stock.
HubSpot Profile
HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.
The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.
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