California Public Employees Retirement System Trims Stock Position in HubSpot, Inc. (NYSE:HUBS)

California Public Employees Retirement System decreased its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 83,138 shares of the software maker’s stock after selling 2,874 shares during the period. California Public Employees Retirement System owned approximately 0.17% of HubSpot worth $48,265,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in HubSpot by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,670,391 shares of the software maker’s stock valued at $2,300,168,000 after purchasing an additional 41,689 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of HubSpot by 6.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,716,774 shares of the software maker’s stock worth $1,338,012,000 after purchasing an additional 166,381 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of HubSpot by 26.0% during the 3rd quarter. Wellington Management Group LLP now owns 1,247,345 shares of the software maker’s stock worth $614,317,000 after purchasing an additional 257,632 shares during the period. Jennison Associates LLC increased its holdings in shares of HubSpot by 22.8% in the 4th quarter. Jennison Associates LLC now owns 972,957 shares of the software maker’s stock valued at $564,840,000 after purchasing an additional 180,822 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of HubSpot by 1.5% in the third quarter. Bank of New York Mellon Corp now owns 799,174 shares of the software maker’s stock valued at $393,593,000 after purchasing an additional 12,109 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HUBS. UBS Group reissued a “neutral” rating and set a $525.00 price target on shares of HubSpot in a research note on Thursday, February 15th. Truist Financial upped their target price on HubSpot from $600.00 to $700.00 and gave the company a “buy” rating in a report on Thursday, February 15th. Royal Bank of Canada raised their target price on shares of HubSpot from $625.00 to $700.00 and gave the company an “outperform” rating in a report on Thursday, February 15th. BMO Capital Markets increased their price target on shares of HubSpot from $540.00 to $710.00 and gave the company an “outperform” rating in a research report on Monday, February 12th. Finally, William Blair restated an “outperform” rating on shares of HubSpot in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. According to data from MarketBeat, HubSpot presently has an average rating of “Moderate Buy” and a consensus target price of $642.36.

HubSpot Stock Performance

HUBS stock opened at $631.34 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.96 and a quick ratio of 1.96. The stock has a 50-day moving average price of $627.73 and a two-hundred day moving average price of $558.66. HubSpot, Inc. has a 12-month low of $407.23 and a 12-month high of $693.85.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, February 14th. The software maker reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.30) by $0.22. HubSpot had a negative return on equity of 6.38% and a negative net margin of 8.12%. The business had revenue of $581.91 million during the quarter, compared to analysts’ expectations of $557.48 million. Sell-side analysts expect that HubSpot, Inc. will post -0.98 EPS for the current fiscal year.

Insider Buying and Selling

In other HubSpot news, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total value of $5,407,530.00. Following the completion of the sale, the insider now owns 526,041 shares of the company’s stock, valued at $334,656,763.38. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 on Tuesday, April 16th. The shares were sold at an average price of $636.18, for a total value of $5,407,530.00. Following the transaction, the insider now owns 526,041 shares in the company, valued at approximately $334,656,763.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawson Alyssa Harvey sold 969 shares of the firm’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $610.00, for a total value of $591,090.00. Following the sale, the insider now owns 7,225 shares of the company’s stock, valued at $4,407,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 22,362 shares of company stock valued at $14,012,491. Corporate insiders own 4.90% of the company’s stock.

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.