Bank of New York Mellon Corp Reduces Holdings in HubSpot, Inc. $HUBS

Bank of New York Mellon Corp lowered its position in HubSpot, Inc. (NYSE:HUBS) by 11.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 548,194 shares of the software maker’s stock after selling 68,791 shares during the quarter. Bank of New York Mellon Corp owned about 1.04% of HubSpot worth $305,142,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Private Trust Co. NA grew its stake in HubSpot by 481.5% in the 1st quarter. Private Trust Co. NA now owns 157 shares of the software maker’s stock valued at $90,000 after buying an additional 130 shares in the last quarter. Moody Lynn & Lieberson LLC boosted its holdings in shares of HubSpot by 2,038.1% in the second quarter. Moody Lynn & Lieberson LLC now owns 20,953 shares of the software maker’s stock worth $11,663,000 after acquiring an additional 19,973 shares during the period. Acadian Asset Management LLC grew its position in shares of HubSpot by 15.0% in the first quarter. Acadian Asset Management LLC now owns 5,059 shares of the software maker’s stock valued at $2,888,000 after purchasing an additional 660 shares in the last quarter. Nordea Investment Management AB raised its stake in shares of HubSpot by 74.4% during the 2nd quarter. Nordea Investment Management AB now owns 16,043 shares of the software maker’s stock valued at $8,921,000 after purchasing an additional 6,846 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in HubSpot by 4.6% during the 1st quarter. Principal Financial Group Inc. now owns 28,755 shares of the software maker’s stock worth $16,427,000 after purchasing an additional 1,276 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

Insider Transactions at HubSpot

In other HubSpot news, CTO Dharmesh Shah sold 4,747 shares of the 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 transaction, the chief technology officer directly owned 1,271,058 shares in the company, valued at $637,562,692.80. This trade represents a 0.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yamini Rangan sold 2,387 shares of HubSpot stock in a transaction that occurred on Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $1,193,500.00. Following the transaction, the chief executive officer directly owned 56,277 shares in the company, valued at $28,138,500. This trade represents a 4.07% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 50,863 shares of company stock worth $24,641,332 in the last three months. Corporate insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

HUBS has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of HubSpot in a report on Tuesday, October 14th. Macquarie reduced their price objective on shares of HubSpot from $730.00 to $660.00 and set an “outperform” rating for the company in a research note on Thursday, August 7th. Barclays decreased their target price 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. Wall Street Zen downgraded shares of HubSpot from a “buy” rating to a “hold” rating in a report on Saturday, October 25th. Finally, Raymond James Financial decreased their price target 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. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $718.04.

HubSpot Stock Performance

NYSE HUBS opened at $471.11 on Wednesday. HubSpot, Inc. has a 52-week low of $418.34 and a 52-week high of $881.13. The company has a fifty day moving average of $478.50 and a 200-day moving average of $530.21. The company has a market capitalization of $24.82 billion, a P/E ratio of -2,048.30, a P/E/G ratio of 17.09 and a beta of 1.60.

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

HubSpot Company 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.