Sumitomo Mitsui Trust Group Inc. Buys 2,812 Shares of HubSpot, Inc. $HUBS

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 2.3% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 127,532 shares of the software maker’s stock after acquiring an additional 2,812 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HubSpot were worth $70,988,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in HUBS. Whittier Trust Co. increased its stake in HubSpot by 136.4% in the second quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock valued at $29,000 after acquiring an additional 30 shares during the period. Hilltop National Bank bought a new stake in shares of HubSpot during the second quarter valued at approximately $32,000. Cullen Frost Bankers Inc. grew its stake in shares of HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock valued at $34,000 after purchasing an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC bought a new stake in shares of HubSpot during the first quarter valued at approximately $35,000. Finally, GW&K Investment Management LLC grew its stake in shares of HubSpot by 203.8% during the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker’s stock valued at $45,000 after purchasing an additional 53 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on HUBS shares. Sanford C. Bernstein upgraded shares of HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price objective on the stock in a report on Wednesday, September 3rd. Canaccord Genuity Group cut their price objective on shares of HubSpot from $765.00 to $700.00 and set a “buy” rating on the stock in a report on Thursday, August 7th. Barclays cut their price objective on shares of HubSpot from $745.00 to $675.00 and set an “overweight” rating on the stock in a report on Monday, July 21st. Raymond James Financial cut their price objective on shares of HubSpot from $825.00 to $655.00 and set an “outperform” rating on the stock in a report on Thursday, August 7th. Finally, Wells Fargo & Company assumed coverage on shares of HubSpot in a report on Tuesday, September 30th. They issued an “overweight” rating and a $685.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, HubSpot has a consensus rating of “Moderate Buy” and a consensus price target of $717.75.

HubSpot Stock Performance

NYSE HUBS opened at $469.72 on Monday. The stock has a market cap of $24.75 billion, a PE ratio of -2,042.26, a P/E/G ratio of 16.11 and a beta of 1.58. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The firm has a 50-day moving average of $475.71 and a 200-day moving average of $533.16.

HubSpot (NYSE:HUBS) last posted its quarterly earnings data on Wednesday, August 6th. The software maker reported $2.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.12 by $0.07. The firm had revenue of $760.87 million during the quarter, compared to the consensus estimate of $739.94 million. HubSpot had a negative net margin of 0.42% and a positive return on equity of 1.74%. The business’s revenue for the quarter was up 19.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.94 EPS. As a group, analysts predict that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Insider Buying and Selling at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of the business’s stock in a transaction that occurred on Monday, October 6th. The shares were sold at an average price of $500.00, for a total value of $307,500.00. Following the completion of the transaction, the chief financial officer directly owned 38,794 shares in the company, valued at approximately $19,397,000. The trade was a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Dharmesh Shah sold 4,747 shares of the business’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $501.60, for a total transaction of $2,381,095.20. Following the completion of the transaction, the chief technology officer owned 1,271,058 shares of the company’s stock, valued at $637,562,692.80. The trade was a 0.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,863 shares of company stock worth $24,641,332. 4.00% of the stock is currently owned by company insiders.

HubSpot Profile

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.