Covestor Ltd Sells 276 Shares of HubSpot, Inc. (NYSE:HUBS)

Covestor Ltd decreased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 63.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 162 shares of the software maker’s stock after selling 276 shares during the quarter. Covestor Ltd’s holdings in HubSpot were worth $101,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of HUBS. Edgestream Partners L.P. acquired a new position in shares of HubSpot in the 1st quarter valued at $2,924,000. Vanguard Group Inc. grew its stake in HubSpot by 0.8% in the first quarter. Vanguard Group Inc. now owns 4,829,488 shares of the software maker’s stock valued at $3,025,964,000 after acquiring an additional 39,098 shares during the period. Westfield Capital Management Co. LP grew its stake in HubSpot by 1.3% in the first quarter. Westfield Capital Management Co. LP now owns 194,437 shares of the software maker’s stock valued at $121,826,000 after acquiring an additional 2,427 shares during the period. Nicolet Advisory Services LLC bought a new stake in shares of HubSpot in the first quarter worth about $285,000. Finally, M&G Plc acquired a new stake in shares of HubSpot during the first quarter worth about $8,533,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Stock Performance

Shares of HUBS stock traded up $5.70 during trading on Tuesday, reaching $488.71. 252,436 shares of the company’s stock were exchanged, compared to its average volume of 631,932. The firm’s fifty day moving average price is $573.16 and its 200-day moving average price is $599.12. HubSpot, Inc. has a twelve month low of $407.23 and a twelve month high of $693.85. The stock has a market capitalization of $24.91 billion, a PE ratio of -182.72 and a beta of 1.60. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.32.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.26) by $0.27. The firm had revenue of $617.41 million for the quarter, compared to the consensus estimate of $597.12 million. HubSpot had a negative net margin of 5.78% and a negative return on equity of 4.94%. As a group, sell-side analysts anticipate that HubSpot, Inc. will post -0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HUBS. TD Cowen decreased their price objective on HubSpot from $700.00 to $680.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. UBS Group lowered their price objective on shares of HubSpot from $640.00 to $580.00 and set a “neutral” rating for the company in a research report on Friday, July 12th. Oppenheimer cut their price objective on shares of HubSpot from $725.00 to $625.00 and set an “outperform” rating on the stock in a research report on Monday. Citigroup reduced their target price on shares of HubSpot from $798.00 to $767.00 and set a “buy” rating for the company in a research note on Friday, May 10th. Finally, Piper Sandler dropped their price target on HubSpot from $655.00 to $570.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $633.88.

Insider Activity

In related news, insider Dawson Alyssa Harvey sold 192 shares of HubSpot stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $650.00, for a total transaction of $124,800.00. Following the completion of the sale, the insider now directly owns 10,860 shares of the company’s stock, valued at approximately $7,059,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other HubSpot news, CFO Kathryn Bueker sold 3,937 shares of the business’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $616.51, for a total value of $2,427,199.87. Following the completion of the sale, the chief financial officer now owns 45,737 shares of the company’s stock, valued at approximately $28,197,317.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawson Alyssa Harvey sold 192 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $650.00, for a total transaction of $124,800.00. Following the transaction, the insider now owns 10,860 shares in the company, valued at approximately $7,059,000. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 46,491 shares of company stock valued at $26,699,609. 4.50% of the stock is owned by insiders.

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.