Icon Wealth Advisors LLC Grows Stake in HubSpot, Inc. (NYSE:HUBS)

Icon Wealth Advisors LLC grew its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 3,346.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 21,091 shares of the software maker’s stock after purchasing an additional 20,479 shares during the quarter. HubSpot comprises approximately 0.4% of Icon Wealth Advisors LLC’s portfolio, making the stock its 27th biggest position. Icon Wealth Advisors LLC’s holdings in HubSpot were worth $11,212,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in HUBS. International Assets Investment Management LLC purchased a new stake in HubSpot during the 2nd quarter worth approximately $35,000. HM Payson & Co. grew its holdings in shares of HubSpot by 36.0% during the third quarter. HM Payson & Co. now owns 68 shares of the software maker’s stock valued at $36,000 after buying an additional 18 shares during the last quarter. Crewe Advisors LLC increased its position in shares of HubSpot by 525.0% in the 2nd quarter. Crewe Advisors LLC now owns 75 shares of the software maker’s stock valued at $44,000 after acquiring an additional 63 shares during the period. J.Safra Asset Management Corp raised its stake in HubSpot by 690.9% in the 2nd quarter. J.Safra Asset Management Corp now owns 87 shares of the software maker’s stock worth $51,000 after acquiring an additional 76 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. lifted its position in HubSpot by 41.6% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 109 shares of the software maker’s stock worth $64,000 after acquiring an additional 32 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

HubSpot Stock Up 3.4 %

HUBS opened at $718.24 on Friday. The company has a market cap of $37.08 billion, a PE ratio of -2,660.15, a price-to-earnings-growth ratio of 82.97 and a beta of 1.63. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $728.90. The company has a 50-day moving average price of $570.51 and a 200 day moving average price of $551.07.

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

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, November 19th. The stock was sold at an average price of $661.59, for a total transaction of $5,623,515.00. Following the transaction, the insider now directly owns 513,698 shares in the company, valued at $339,857,459.82. The trade was a 1.63 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. This represents a 0.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,391 shares of company stock valued at $29,101,488 over the last 90 days. 4.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on HUBS. Bank of America reduced their price objective on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Truist Financial reiterated a “buy” rating and issued a $750.00 price target (up previously from $600.00) on shares of HubSpot in a report on Friday, November 8th. Royal Bank of Canada lifted their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Citigroup cut their price objective on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC restated a “buy” rating and set a $730.00 target price on shares of HubSpot in a research report on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $672.68.

HubSpot Company 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.