Franklin Resources Inc. Reduces Stake in HubSpot, Inc. $HUBS

Franklin Resources Inc. lessened its position in shares of HubSpot, Inc. (NYSE:HUBS) by 16.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,083,437 shares of the software maker’s stock after selling 213,601 shares during the quarter. Franklin Resources Inc. owned 2.07% of HubSpot worth $506,832,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of HUBS. Goodman Advisory Group LLC purchased a new position in HubSpot in the second quarter worth about $27,000. Exane Asset Management purchased a new stake in shares of HubSpot during the 3rd quarter valued at about $30,000. Rakuten Securities Inc. lifted its stake in shares of HubSpot by 783.3% in the 2nd quarter. Rakuten Securities Inc. now owns 53 shares of the software maker’s stock worth $30,000 after purchasing an additional 47 shares during the period. Westside Investment Management Inc. lifted its stake in shares of HubSpot by 80.5% in the 3rd quarter. Westside Investment Management Inc. now owns 74 shares of the software maker’s stock worth $33,000 after purchasing an additional 33 shares during the period. Finally, Osterweis Capital Management Inc. purchased a new position in shares of HubSpot in the second quarter worth approximately $34,000. Institutional investors own 90.39% of the company’s stock.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $259.09 on Thursday. HubSpot, Inc. has a 1-year low of $207.20 and a 1-year high of $682.57. The company has a market capitalization of $13.66 billion, a P/E ratio of 297.81, a P/E/G ratio of 4.02 and a beta of 1.40. The firm’s 50 day simple moving average is $290.72 and its two-hundred day simple moving average is $385.54.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, February 11th. The software maker reported $3.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.99 by $0.10. The firm had revenue of $846.75 million during the quarter, compared to analysts’ expectations of $830.65 million. HubSpot had a net margin of 1.47% and a return on equity of 3.64%. The company’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period in the prior year, the company posted $2.32 earnings per share. On average, sell-side analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insider Buying and Selling at HubSpot

In other HubSpot news, Director Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $303.38, for a total transaction of $2,578,730.00. Following the sale, the director directly owned 487,344 shares of the company’s stock, valued at $147,850,422.72. This trade represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Erika Ashley Fisher sold 841 shares of the business’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $238.01, for a total value of $200,166.41. Following the completion of the transaction, the insider owned 10,119 shares in the company, valued at $2,408,423.19. The trade was a 7.67% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 26,691 shares of company stock valued at $8,136,702 in the last ninety days. 4.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Truist Financial cut their target price on shares of HubSpot from $650.00 to $300.00 and set a “buy” rating for the company in a research report on Thursday, February 12th. Mizuho dropped their price target on shares of HubSpot from $550.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday, February 12th. Oppenheimer cut their price objective on shares of HubSpot from $550.00 to $350.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Stifel Nicolaus reduced their price objective on HubSpot from $550.00 to $500.00 and set a “buy” rating for the company in a research note on Friday, January 23rd. Finally, The Goldman Sachs Group decreased their target price on HubSpot from $517.00 to $442.00 and set a “buy” rating on the stock in a report on Thursday, February 12th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $454.20.

HubSpot Company Profile

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.