Fjarde AP Fonden Fourth Swedish National Pension Fund Has $6.12 Million Stock Position in HubSpot, Inc. (NYSE:HUBS)

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 9.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,713 shares of the software maker’s stock after selling 1,100 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in HubSpot were worth $6,120,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Venturi Wealth Management LLC grew its holdings in shares of HubSpot by 1.1% during the first quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker’s stock valued at $861,000 after buying an additional 16 shares during the last quarter. WCM Investment Management LLC grew its holdings in shares of HubSpot by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker’s stock valued at $1,553,000 after buying an additional 17 shares during the last quarter. Yousif Capital Management LLC grew its holdings in shares of HubSpot by 3.0% during the first quarter. Yousif Capital Management LLC now owns 662 shares of the software maker’s stock valued at $378,000 after buying an additional 19 shares during the last quarter. Ballentine Partners LLC grew its holdings in shares of HubSpot by 3.5% during the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker’s stock valued at $334,000 after buying an additional 20 shares during the last quarter. Finally, Apollon Wealth Management LLC grew its holdings in shares of HubSpot by 5.2% during the first quarter. Apollon Wealth Management LLC now owns 405 shares of the software maker’s stock valued at $231,000 after buying an additional 20 shares during the last quarter. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on HUBS. Piper Sandler upgraded shares of HubSpot from a “neutral” rating to an “overweight” rating and boosted their price target for the stock from $645.00 to $675.00 in a report on Thursday, August 7th. BNP Paribas began coverage on shares of HubSpot in a report on Tuesday, April 22nd. They set an “outperform” rating and a $700.00 price target on the stock. UBS Group cut their price target on shares of HubSpot from $820.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. cut their price target on shares of HubSpot from $775.00 to $675.00 and set an “overweight” rating on the stock in a report on Thursday, August 7th. Finally, Truist Financial cut their price target on shares of HubSpot from $720.00 to $675.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Three research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $726.04.

HubSpot Price Performance

Shares of NYSE:HUBS opened at $439.72 on Friday. HubSpot, Inc. has a 1 year low of $418.34 and a 1 year high of $881.13. The firm has a market capitalization of $23.17 billion, a price-to-earnings ratio of -1,911.83, a price-to-earnings-growth ratio of 14.81 and a beta of 1.66. The business’s 50 day moving average price is $530.83 and its 200-day moving average price is $602.32.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. The company had revenue of $760.87 million for the quarter, compared to analyst estimates of $739.94 million. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%. The firm’s revenue for the quarter was up 19.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.94 EPS. On average, sell-side analysts expect that HubSpot, Inc. will post 1.01 earnings per share for the current year.

Insider Transactions at HubSpot

In other news, Director Brian Halligan sold 8,500 shares of HubSpot stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total transaction of $4,616,095.00. Following the transaction, the director owned 522,435 shares in the company, valued at $283,718,775.45. The trade was a 1.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yamini Rangan sold 2,383 shares of HubSpot stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $1,314,915.57. Following the transaction, the chief executive officer owned 63,918 shares in the company, valued at approximately $35,269,313.22. This represents a 3.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,998 shares of company stock worth $10,928,616 in the last quarter. Company insiders own 4.00% of the company’s stock.

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.