Bank of New York Mellon Corp Lowers Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Bank of New York Mellon Corp decreased its position in shares of HubSpot, Inc. (NYSE:HUBS – Get Rating) by 15.3% during the third quarter, Holdings Channel reports. The institutional investor owned 698,792 shares of the software maker’s stock after selling 126,309 shares during the period. Bank of New York Mellon Corp’s holdings in HubSpot were worth $188,758,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of HUBS. Trustcore Financial Services LLC increased its holdings in HubSpot by 66.1% in the 3rd quarter. Trustcore Financial Services LLC now owns 98 shares of the software maker’s stock valued at $26,000 after acquiring an additional 39 shares during the last quarter. Heritage Wealth Management LLC bought a new stake in HubSpot in the 2nd quarter valued at $46,000. Wipfli Financial Advisors LLC bought a new stake in HubSpot in the 3rd quarter valued at $49,000. Adalta Capital Management LLC bought a new stake in HubSpot in the 2nd quarter valued at $51,000. Finally, Neo Ivy Capital Management bought a new stake in HubSpot in the 2nd quarter valued at $59,000. Hedge funds and other institutional investors own 90.87% of the company’s stock.

Insider Buying and Selling at HubSpot

In other HubSpot news, CTO Dharmesh Shah sold 30,000 shares of the business’s stock in a transaction dated Tuesday, January 10th. The shares were sold at an average price of $285.88, for a total value of $8,576,400.00. Following the completion of the sale, the chief technology officer now directly owns 1,479,416 shares of the company’s stock, valued at approximately $422,935,446.08. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CTO Dharmesh Shah sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 10th. The shares were sold at an average price of $285.88, for a total value of $8,576,400.00. Following the completion of the sale, the chief technology officer now owns 1,479,416 shares of the company’s stock, valued at approximately $422,935,446.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $282.36, for a total transaction of $2,400,060.00. Following the completion of the sale, the insider now directly owns 631,280 shares of the company’s stock, valued at approximately $178,248,220.80. The disclosure for this sale can be found here. Insiders sold a total of 58,809 shares of company stock valued at $17,779,233 in the last three months. Company insiders own 5.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on HUBS. Needham & Company LLC lifted their price target on shares of HubSpot from $380.00 to $470.00 and gave the company a “buy” rating in a report on Friday, February 17th. Raymond James lifted their price target on shares of HubSpot from $360.00 to $500.00 and gave the company a “strong-buy” rating in a report on Friday, February 17th. Canaccord Genuity Group boosted their target price on shares of HubSpot from $385.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Oppenheimer boosted their target price on shares of HubSpot from $375.00 to $450.00 and gave the stock an “outperform” rating in a report on Tuesday, February 21st. Finally, Credit Suisse Group boosted their target price on shares of HubSpot from $400.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, February 17th. Three analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $422.65.

HubSpot Price Performance

HubSpot stock opened at $397.48 on Friday. The stock has a market cap of $19.63 billion, a price-to-earnings ratio of -169.14 and a beta of 1.61. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.30 and a quick ratio of 2.30. HubSpot, Inc. has a 1 year low of $245.03 and a 1 year high of $527.06. The firm has a 50-day moving average of $363.61 and a two-hundred day moving average of $313.94.

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

HubSpot Company 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.