Westpac Banking Corp Sells 2,284 Shares of HubSpot, Inc. $HUBS

Westpac Banking Corp cut its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 52.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,110 shares of the software maker’s stock after selling 2,284 shares during the quarter. Westpac Banking Corp’s holdings in HubSpot were worth $1,174,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. grew its holdings in shares of HubSpot by 136.4% during the 2nd quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock valued at $29,000 after purchasing an additional 30 shares during the last quarter. Hilltop National Bank purchased a new stake in HubSpot in the second quarter worth $32,000. Cullen Frost Bankers Inc. boosted its stake in shares of HubSpot by 130.8% during the 1st 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 in the last quarter. N.E.W. Advisory Services LLC bought a new stake in HubSpot during the 1st quarter valued at approximately $35,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in HubSpot in the second quarter worth $39,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of the business’s stock in a transaction dated Monday, October 6th. The shares were sold at an average price of $500.00, for a total value of $307,500.00. Following the sale, the chief financial officer directly owned 38,794 shares in the company, valued at $19,397,000. The trade was a 1.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Yamini Rangan sold 2,387 shares of HubSpot stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $1,193,500.00. Following the completion of the transaction, the chief executive officer owned 56,277 shares of the company’s stock, valued at approximately $28,138,500. This represents a 4.07% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 51,098 shares of company stock worth $24,757,257 in the last ninety days. Company insiders own 4.00% of the company’s stock.

HubSpot Price Performance

Shares of NYSE:HUBS traded down $13.26 during trading on Monday, hitting $383.10. 15,960 shares of the company’s stock were exchanged, compared to its average volume of 774,871. The company has a market cap of $20.07 billion, a price-to-earnings ratio of -4,844.28, a PEG ratio of 13.44 and a beta of 1.60. The business’s 50-day simple moving average is $466.73 and its 200 day simple moving average is $519.90. HubSpot, Inc. has a 52-week low of $375.01 and a 52-week high of $881.13.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Thursday, November 6th. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.58 by $0.08. HubSpot had a negative net margin of 0.12% and a positive return on equity of 1.21%. The business had revenue of $809.52 million for the quarter, compared to analysts’ expectations of $786.80 million. During the same quarter in the previous year, the company earned $2.18 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. On average, sell-side analysts anticipate that HubSpot, Inc. will post 1.01 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on HUBS shares. Sanford C. Bernstein raised shares of HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price target for the company in a research report on Wednesday, September 3rd. Bank of America decreased their target price on shares of HubSpot from $640.00 to $515.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Piper Sandler dropped their price target on HubSpot from $675.00 to $590.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. Jefferies Financial Group dropped their target price on HubSpot from $650.00 to $560.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, JPMorgan Chase & Co. cut their price objective on shares of HubSpot from $675.00 to $650.00 and set an “overweight” rating on the stock in a research report on Thursday, November 6th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $620.41.

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.