Magnetar Financial LLC Makes New $1.84 Million Investment in HubSpot, Inc. (NYSE:HUBS)

Magnetar Financial LLC purchased a new position in HubSpot, Inc. (NYSE:HUBS) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,938 shares of the software maker’s stock, valued at approximately $1,841,000.

Several other institutional investors have also modified their holdings of HUBS. Wellington Management Group LLP grew its stake in shares of HubSpot by 50.3% in the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after acquiring an additional 626,977 shares in the last quarter. Jennison Associates LLC lifted its position in shares of HubSpot by 62.1% during the 1st quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock worth $988,406,000 after purchasing an additional 604,554 shares during the last quarter. Norges Bank purchased a new stake in shares of HubSpot during the 4th quarter worth $311,236,000. Twin Focus Capital Partners LLC lifted its position in shares of HubSpot by 92,828.2% during the 4th quarter. Twin Focus Capital Partners LLC now owns 487,873 shares of the software maker’s stock worth $283,230,000 after purchasing an additional 487,348 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of HubSpot by 87.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 451,341 shares of the software maker’s stock worth $262,022,000 after purchasing an additional 210,138 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Stock Performance

HUBS traded down $3.04 during trading on Friday, reaching $492.72. The company’s stock had a trading volume of 930,327 shares, compared to its average volume of 978,219. HubSpot, Inc. has a 52-week low of $407.23 and a 52-week high of $693.85. The company’s fifty day moving average price is $563.62 and its 200-day moving average price is $596.98. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of -185.93 and a beta of 1.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.07 and a current ratio of 2.07.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, May 8th. The software maker reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.26) by $0.27. The business had revenue of $617.41 million for the quarter, compared to analyst estimates of $597.12 million. HubSpot had a negative return on equity of 4.94% and a negative net margin of 5.78%. On average, equities analysts forecast that HubSpot, Inc. will post -0.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on HUBS shares. Piper Sandler decreased their price objective on shares of HubSpot from $655.00 to $570.00 and set an “overweight” rating for the company in a research report on Friday, July 12th. Stifel Nicolaus reduced their price target on shares of HubSpot from $750.00 to $700.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Scotiabank boosted their price target on shares of HubSpot from $650.00 to $700.00 and gave the company a “sector outperform” rating in a research report on Friday, April 5th. Oppenheimer reduced their price target on shares of HubSpot from $725.00 to $625.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Finally, Citigroup reduced their price target on shares of HubSpot from $798.00 to $767.00 and set a “buy” rating for the company in a research report on Friday, May 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $633.88.

Insider Transactions at HubSpot

In other news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $472.27, for a total transaction of $4,014,295.00. Following the sale, the insider now owns 518,152 shares of the company’s stock, valued at approximately $244,707,645.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Kathryn Bueker sold 3,937 shares of HubSpot stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $616.51, for a total transaction of $2,427,199.87. Following the completion of the transaction, the chief financial officer now directly owns 45,737 shares in the company, valued at approximately $28,197,317.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $472.27, for a total value of $4,014,295.00. Following the completion of the transaction, the insider now owns 518,152 shares of the company’s stock, valued at $244,707,645.04. The disclosure for this sale can be found here. Insiders have sold 46,491 shares of company stock valued at $26,699,609 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.

HubSpot 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.