Primecap Management Co. CA Sells 6,800 Shares of HubSpot, Inc. (NYSE:HUBS)

Primecap Management Co. CA reduced its position in HubSpot, Inc. (NYSE:HUBS) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 84,450 shares of the software maker’s stock after selling 6,800 shares during the quarter. Primecap Management Co. CA owned approximately 0.16% of HubSpot worth $58,842,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP boosted its stake in HubSpot by 52.2% during 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 in the last quarter. Geode Capital Management LLC boosted its stake in HubSpot by 2.5% during the third quarter. Geode Capital Management LLC now owns 820,483 shares of the software maker’s stock worth $435,184,000 after acquiring an additional 19,974 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in HubSpot by 3.8% during the fourth quarter. Bank of New York Mellon Corp now owns 674,523 shares of the software maker’s stock worth $469,987,000 after acquiring an additional 24,799 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock worth $303,689,000 after acquiring an additional 86,688 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in HubSpot by 8.2% during the third 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 acquiring an additional 40,138 shares in the last quarter. 90.39% of the stock is owned by institutional investors.

HubSpot Stock Down 2.7 %

Shares of NYSE:HUBS opened at $596.71 on Wednesday. The firm has a market capitalization of $31.12 billion, a PE ratio of 6,630.81, a P/E/G ratio of 41.44 and a beta of 1.80. HubSpot, Inc. has a twelve month low of $434.84 and a twelve month high of $881.13. The company has a 50-day moving average price of $721.64 and a two-hundred day moving average price of $654.04.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. Analysts anticipate that HubSpot, Inc. will post 1.01 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total value of $6,885,000.00. Following the completion of the transaction, the insider now directly owns 524,751 shares in the company, valued at approximately $425,048,310. This trade represents a 1.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Lorrie M. Norrington sold 572 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $690.00, for a total transaction of $394,680.00. Following the completion of the transaction, the director now owns 1,697 shares of the company’s stock, valued at $1,170,930. This trade represents a 25.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,497 shares of company stock worth $11,097,251 over the last quarter. 4.50% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

HUBS has been the topic of several research analyst reports. Raymond James increased their target price on shares of HubSpot from $750.00 to $980.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Bank of America upped their price objective on shares of HubSpot from $780.00 to $850.00 and gave the stock a “buy” rating in a report on Monday, December 16th. Oppenheimer upped their price objective on shares of HubSpot from $850.00 to $900.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Morgan Stanley upped their price objective on shares of HubSpot from $835.00 to $898.00 and gave the stock an “overweight” rating in a report on Thursday, February 13th. Finally, Scotiabank upped their price objective on shares of HubSpot from $825.00 to $900.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $863.96.

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.