Kestra Investment Management LLC Acquires New Stake in HubSpot, Inc. $HUBS

Kestra Investment Management LLC bought a new stake in shares of HubSpot, Inc. (NYSE:HUBS) in the third quarter, Holdings Channel reports. The fund bought 7,508 shares of the software maker’s stock, valued at approximately $1,539,000.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBS. Access Investment Management LLC acquired a new stake in shares of HubSpot in the third quarter worth approximately $32,000. Elevation Wealth Partners LLC increased its position in shares of HubSpot by 66.7% during the third quarter. Elevation Wealth Partners LLC now owns 175 shares of the software maker’s stock worth $36,000 after purchasing an additional 70 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of HubSpot during the second quarter worth approximately $38,000. Provenance Wealth Advisors LLC increased its position in shares of HubSpot by 152.2% during the third quarter. Provenance Wealth Advisors LLC now owns 290 shares of the software maker’s stock worth $59,000 after purchasing an additional 175 shares in the last quarter. Finally, CX Institutional raised its stake in HubSpot by 4,785.7% in the 2nd quarter. CX Institutional now owns 342 shares of the software maker’s stock valued at $62,000 after purchasing an additional 335 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other news, insider Erika Fisher sold 702 shares of HubSpot stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $227.72, for a total transaction of $159,859.44. Following the transaction, the insider owned 12,829 shares in the company, valued at $2,921,419.88. The trade was a 5.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $239.57, for a total transaction of $2,036,345.00. Following the transaction, the director directly owned 59,500 shares in the company, valued at approximately $14,254,415. The trade was a 12.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 26,202 shares of company stock valued at $6,149,894 over the last ninety days. Corporate insiders own 3.70% of the company’s stock.

HubSpot Stock Performance

Shares of HubSpot stock opened at $197.21 on Wednesday. HubSpot, Inc. has a one year low of $169.63 and a one year high of $406.94. The company has a market cap of $9.63 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 2.13 and a beta of 1.14. The business’s 50 day moving average price is $229.70 and its 200 day moving average price is $228.80.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, November 4th. The software maker reported $3.81 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.54. The company had revenue of $947.57 million for the quarter, compared to analyst estimates of $925.50 million. HubSpot had a return on equity of 12.18% and a net margin of 5.95%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.66 earnings per share. On average, analysts predict that HubSpot, Inc. will post 4.71 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on HUBS shares. Cantor Fitzgerald lowered HubSpot from a “neutral” rating to an “underweight” rating and decreased their price objective for the company from $265.00 to $170.00 in a report on Thursday, November 5th. Morgan Stanley cut shares of HubSpot from an “overweight” rating to an “equal weight” rating and set a $229.00 target price on the stock. in a research note on Thursday, November 5th. Sanford C. Bernstein lowered shares of HubSpot from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $381.00 to $220.00 in a report on Thursday, August 6th. BTIG Research cut shares of HubSpot from a “buy” rating to a “neutral” rating in a research report on Thursday, November 5th. Finally, Canaccord Genuity Group decreased their price target on shares of HubSpot from $335.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, August 6th. Eight investment analysts have rated the stock with a Buy rating, twenty-two have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $251.23.

About HubSpot

HubSpot, Inc. develops cloud-based customer relationship management software designed to help businesses attract and engage customers, manage sales, and provide customer support. Founded in 2006 by Brian Halligan and Dharmesh Shah, the company helped popularize inbound marketing, an approach focused on drawing customers in with useful content and experiences. Its platform combines a central CRM with products for marketing, sales, customer service, content management, operations, and commerce. HubSpot also offers automation, analytics, and artificial intelligence features to help organizations manage customer interactions and coordinate business processes.