DAVENPORT & Co LLC Has $1.14 Million Stake in HubSpot, Inc. $HUBS

DAVENPORT & Co LLC trimmed its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 12.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,040 shares of the software maker’s stock after selling 291 shares during the period. DAVENPORT & Co LLC’s holdings in HubSpot were worth $1,136,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HUBS. Hilltop National Bank acquired a new position in shares of HubSpot during the second quarter worth approximately $32,000. Cullen Frost Bankers Inc. lifted its position 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 worth $34,000 after purchasing an additional 34 shares in the last quarter. N.E.W. Advisory Services LLC acquired a new position in shares of HubSpot during the first quarter worth approximately $35,000. GW&K Investment Management LLC lifted its position 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 worth $45,000 after purchasing an additional 53 shares in the last quarter. Finally, S Bank Fund Management Ltd acquired a new position in shares of HubSpot during the first quarter worth approximately $46,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of the company’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 owned 38,794 shares in the company, valued at $19,397,000. This represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Dharmesh Shah sold 17,253 shares of the company’s stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the completion of the transaction, the chief technology officer owned 1,275,805 shares of the company’s stock, valued at $638,744,531.30. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,098 shares of company stock worth $25,563,137 over the last ninety days. 4.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Wall Street Zen downgraded shares of HubSpot from a “buy” rating to a “hold” rating in a research note on Friday, October 3rd. Piper Sandler assumed coverage on shares of HubSpot in a research note on Thursday, September 4th. They set an “overweight” rating and a $675.00 price target for the company. Macquarie dropped their price target 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. Canaccord Genuity Group dropped their price target on shares of HubSpot from $765.00 to $700.00 and set a “buy” rating for the company in a research note on Thursday, August 7th. Finally, KeyCorp dropped their price target on shares of HubSpot from $860.00 to $775.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. One equities research 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 issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $723.11.

HubSpot Stock Performance

Shares of NYSE:HUBS opened at $438.97 on Friday. HubSpot, Inc. has a 52 week low of $418.34 and a 52 week high of $881.13. The company has a market capitalization of $23.13 billion, a PE ratio of -1,908.57, a PEG ratio of 15.62 and a beta of 1.58. The company has a 50 day moving average price of $475.29 and a two-hundred day moving average price of $539.63.

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