Kornitzer Capital Management Inc. KS Sells 13,944 Shares of HubSpot, Inc. $HUBS

Kornitzer Capital Management Inc. KS decreased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 93.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,056 shares of the software maker’s stock after selling 13,944 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in HubSpot were worth $494,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Goodman Advisory Group LLC acquired a new position in shares of HubSpot in the 2nd quarter valued at approximately $27,000. Whittier Trust Co. boosted its position in shares of HubSpot by 136.4% during the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. Rakuten Securities Inc. increased its stake in HubSpot by 783.3% in the second quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock valued at $30,000 after acquiring an additional 47 shares during the last quarter. Hilltop National Bank bought a new position in HubSpot in the second quarter valued at approximately $32,000. Finally, Osterweis Capital Management Inc. acquired a new position in HubSpot during the second quarter valued at approximately $34,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on HUBS shares. Rothschild Redb lowered HubSpot from a “strong-buy” rating to a “hold” rating in a research note on Monday, November 10th. Needham & Company LLC reduced their price objective on HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Morgan Stanley decreased their target price on HubSpot from $640.00 to $577.00 and set an “overweight” rating on the stock in a research report on Thursday, January 15th. Argus dropped their target price on shares of HubSpot from $650.00 to $525.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Finally, Oppenheimer reduced their price target on shares of HubSpot from $750.00 to $550.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. One investment analyst has rated the stock with a Strong Buy rating, twenty-nine have issued a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $595.73.

Insider Activity at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the transaction, the director owned 487,344 shares in the company, valued at approximately $147,850,422.72. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 25,735 shares of company stock worth $8,943,006 in the last quarter. 4.00% of the stock is currently owned by insiders.

HubSpot Trading Down 0.9%

NYSE:HUBS opened at $316.74 on Thursday. The stock has a market cap of $16.59 billion, a P/E ratio of -3,959.29, a price-to-earnings-growth ratio of 7.57 and a beta of 1.46. The stock’s 50-day moving average is $367.56 and its 200-day moving average is $436.97. HubSpot, Inc. has a 1-year low of $300.09 and a 1-year high of $881.13.

HubSpot (NYSE:HUBS) last issued its quarterly earnings data on Thursday, November 6th. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.58 by $0.08. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The business had revenue of $809.52 million during the quarter, compared to analyst estimates of $786.80 million. During the same quarter last year, the business earned $2.18 EPS. The firm’s quarterly revenue was up 20.9% on a year-over-year basis. As a group, equities analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

About HubSpot

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.