Sanctuary Advisors LLC Sells 1,855 Shares of HubSpot, Inc. (NYSE:HUBS)

Sanctuary Advisors LLC reduced its position in HubSpot, Inc. (NYSE:HUBS) by 31.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,991 shares of the software maker’s stock after selling 1,855 shares during the period. Sanctuary Advisors LLC’s holdings in HubSpot were worth $2,122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP grew its stake in shares of HubSpot by 52.2% in the third quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock worth $745,410,000 after acquiring an additional 480,796 shares during the period. Fred Alger Management LLC grew its position in HubSpot by 516.2% in the 2nd quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker’s stock worth $96,307,000 after purchasing an additional 136,793 shares during the period. International Assets Investment Management LLC raised its stake in HubSpot by 214,342.4% during the 3rd quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker’s stock valued at $672,590,000 after buying an additional 126,462 shares during the last quarter. Marshall Wace LLP lifted its holdings in shares of HubSpot by 88.7% during the 2nd quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after buying an additional 113,555 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its stake in shares of HubSpot by 17.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after buying an additional 86,688 shares during the last quarter. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Performance

NYSE HUBS opened at $707.02 on Thursday. The company has a market cap of $36.50 billion, a P/E ratio of -2,618.50, a P/E/G ratio of 88.26 and a beta of 1.70. The business’s 50 day moving average price is $649.79 and its 200-day moving average price is $567.01. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $762.47.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on HUBS shares. UBS Group raised their target price on HubSpot from $550.00 to $650.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Evercore ISI raised their price objective on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Mizuho upped their target price on shares of HubSpot from $725.00 to $775.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Truist Financial reiterated a “buy” rating and set a $750.00 price target (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Finally, Wells Fargo & Company upped their price objective on HubSpot from $625.00 to $750.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Five research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, HubSpot has a consensus rating of “Moderate Buy” and an average price target of $702.23.

Insider Buying and Selling

In other news, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $672.62, for a total value of $16,815,500.00. Following the sale, the chief technology officer now directly owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dawson Alyssa Harvey sold 573 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $700.00, for a total value of $401,100.00. Following the sale, the insider now directly owns 7,603 shares of the company’s stock, valued at $5,322,100. This represents a 7.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,390 shares of company stock valued at $29,126,596 in the last ninety days. 4.50% of the stock is owned by company 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.