Fred Alger Management LLC Sells 2,465 Shares of HubSpot, Inc. (NYSE:HUBS)

Fred Alger Management LLC cut its holdings in shares of HubSpot, Inc. (NYSE:HUBS – Get Rating) by 4.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,689 shares of the software maker’s stock after selling 2,465 shares during the quarter. Fred Alger Management LLC’s holdings in HubSpot were worth $13,422,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its holdings in shares of HubSpot by 2.0% during the second quarter. Price T Rowe Associates Inc. MD now owns 5,269,200 shares of the software maker’s stock worth $1,584,185,000 after purchasing an additional 102,016 shares during the period. Vanguard Group Inc. increased its holdings in shares of HubSpot by 2.2% during the third quarter. Vanguard Group Inc. now owns 4,305,744 shares of the software maker’s stock worth $1,163,068,000 after purchasing an additional 92,964 shares during the period. Clearbridge Investments LLC increased its holdings in shares of HubSpot by 17.4% during the second quarter. Clearbridge Investments LLC now owns 1,324,312 shares of the software maker’s stock worth $398,154,000 after purchasing an additional 195,888 shares during the period. Durable Capital Partners LP boosted its position in shares of HubSpot by 19.3% during the 3rd quarter. Durable Capital Partners LP now owns 917,522 shares of the software maker’s stock worth $247,841,000 after acquiring an additional 148,657 shares in the last quarter. Finally, Abdiel Capital Advisors LP acquired a new stake in shares of HubSpot during the 3rd quarter worth approximately $220,041,000. 90.87% of the stock is owned by institutional investors.

Insider Buying and Selling

In other HubSpot news, CTO Dharmesh Shah sold 5,281 shares of the business’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $356.26, for a total value of $1,881,409.06. Following the transaction, the chief technology officer now directly owns 1,459,416 shares in the company, valued at $519,931,544.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other HubSpot news, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction dated Tuesday, January 17th. The shares were sold at an average price of $309.80, for a total value of $2,633,300.00. Following the transaction, the insider now directly owns 634,350 shares in the company, valued at $196,521,630. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CTO Dharmesh Shah sold 5,281 shares of the business’s stock in a transaction dated Thursday, January 26th. The shares were sold at an average price of $356.26, for a total transaction of $1,881,409.06. Following the completion of the transaction, the chief technology officer now owns 1,459,416 shares in the company, valued at $519,931,544.16. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,809 shares of company stock worth $17,779,233. 5.60% of the stock is owned by insiders.

HubSpot Price Performance

Shares of NYSE HUBS opened at $392.85 on Wednesday. HubSpot, Inc. has a twelve month low of $245.03 and a twelve month high of $527.06. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.46. The company has a market capitalization of $19.40 billion, a PE ratio of -167.17 and a beta of 1.61. The firm has a fifty day simple moving average of $356.72 and a 200 day simple moving average of $312.34.

HubSpot (NYSE:HUBS – Get Rating) last posted its earnings results on Thursday, February 16th. The software maker reported ($0.20) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.22. HubSpot had a negative net margin of 6.51% and a negative return on equity of 11.16%. The company had revenue of $469.66 million during the quarter, compared to the consensus estimate of $444.95 million. On average, sell-side analysts forecast that HubSpot, Inc. will post -1.58 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Raymond James increased their price target on shares of HubSpot from $360.00 to $500.00 and gave the stock a “strong-buy” rating in a research report on Friday, February 17th. Morgan Stanley increased their price target on shares of HubSpot from $378.00 to $447.00 and gave the stock an “overweight” rating in a research report on Friday, February 17th. Canaccord Genuity Group increased their price target on shares of HubSpot from $385.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, February 17th. Oppenheimer increased their price target on shares of HubSpot from $375.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 21st. Finally, Credit Suisse Group increased their price target on shares of HubSpot from $400.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, February 17th. Three equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $422.65.

HubSpot Profile

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HubSpot, Inc engages in cloud-based customer relationship management. Its platform includes marketing, sales, service, operations and content management system, as well as other tools, integrations and a native payment solutions. It operates through the following geographical segments: Americas, Europe and Asia Pacific.