Eventide Asset Management LLC Raises Holdings in HubSpot, Inc. (NYSE:HUBS)

Eventide Asset Management LLC grew its position in HubSpot, Inc. (NYSE:HUBS) by 1.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 118,554 shares of the software maker’s stock after purchasing an additional 1,553 shares during the quarter. Eventide Asset Management LLC’s holdings in HubSpot were worth $63,023,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Captrust Financial Advisors lifted its holdings in shares of HubSpot by 132.6% in the 3rd quarter. Captrust Financial Advisors now owns 1,363 shares of the software maker’s stock worth $725,000 after buying an additional 777 shares during the period. Alkeon Capital Management LLC purchased a new stake in shares of HubSpot in the 3rd quarter worth $15,948,000. Vinva Investment Management Ltd lifted its holdings in shares of HubSpot by 31.9% in the 3rd quarter. Vinva Investment Management Ltd now owns 3,501 shares of the software maker’s stock worth $1,877,000 after buying an additional 846 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of HubSpot by 8.2% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock worth $280,186,000 after purchasing an additional 40,138 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of HubSpot by 1.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 28,264 shares of the software maker’s stock worth $15,025,000 after purchasing an additional 340 shares during the last quarter. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on HUBS shares. Barclays upped their price objective on HubSpot from $500.00 to $650.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. 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. Truist Financial restated a “buy” rating and set a $750.00 price objective (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. JPMorgan Chase & Co. upped their price objective on HubSpot from $560.00 to $635.00 and gave the stock an “overweight” rating in a research note on Thursday, November 7th. Finally, BMO Capital Markets upped their price objective on HubSpot from $570.00 to $690.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and a consensus price target of $672.68.

Insider Buying and Selling

In related news, CEO Yamini Rangan sold 116 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the sale, the chief executive officer now directly owns 67,203 shares of the company’s stock, valued at $33,009,441.57. This trade represents a 0.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $661.59, for a total value of $5,623,515.00. Following the sale, the insider now directly owns 513,698 shares in the company, valued at approximately $339,857,459.82. This trade represents a 1.63 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,391 shares of company stock valued at $29,101,488 over the last ninety days. Company insiders own 4.50% of the company’s stock.

HubSpot Price Performance

Shares of HUBS stock opened at $722.76 on Friday. The stock’s 50-day simple moving average is $593.23 and its 200-day simple moving average is $555.52. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $754.56.

HubSpot (NYSE:HUBS) last announced 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 analyst estimates of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The company’s revenue was up 20.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.04) earnings per share. As a group, equities analysts predict that HubSpot, Inc. will post 0.4 earnings per share for the current fiscal year.

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.