Raymond James & Associates Lowers Stock Position in HubSpot, Inc. (NYSE:HUBS)

Raymond James & Associates trimmed its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 40.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,931 shares of the software maker’s stock after selling 24,649 shares during the quarter. Raymond James & Associates’ holdings in HubSpot were worth $19,633,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of HUBS. Sunbelt Securities Inc. increased its holdings in shares of HubSpot by 73.6% in the 1st quarter. Sunbelt Securities Inc. now owns 408 shares of the software maker’s stock valued at $256,000 after acquiring an additional 173 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in HubSpot by 7.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,859 shares of the software maker’s stock valued at $1,165,000 after purchasing an additional 123 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in HubSpot in the first quarter valued at about $219,000. Founders Financial Securities LLC raised its holdings in HubSpot by 26.5% in the first quarter. Founders Financial Securities LLC now owns 449 shares of the software maker’s stock worth $281,000 after purchasing an additional 94 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of HubSpot by 18.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 111,175 shares of the software maker’s stock valued at $69,658,000 after buying an additional 17,561 shares during the last quarter. Institutional investors own 90.39% of the company’s stock.

HubSpot Stock Up 2.1 %

Shares of HUBS opened at $565.78 on Friday. The stock’s 50-day moving average price is $516.68 and its 200-day moving average price is $551.98. The company has a market capitalization of $29.05 billion, a price-to-earnings ratio of -1,047.71, a PEG ratio of 7,068.33 and a beta of 1.64. HubSpot, Inc. has a 52 week low of $407.23 and a 52 week high of $693.85.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, topping the consensus estimate of $1.64 by $0.30. The business had revenue of $637.20 million for the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative return on equity of 2.33% and a negative net margin of 1.15%. The business’s quarterly revenue was up 20.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.17) EPS.

Wall Street Analyst Weigh In

Several research analysts recently commented on HUBS shares. Canaccord Genuity Group reduced their price objective on shares of HubSpot from $700.00 to $600.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. KeyCorp raised shares of HubSpot from an “underweight” rating to a “sector weight” rating and set a $460.00 price target on the stock in a report on Thursday, August 8th. Citigroup decreased their price objective on HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a report on Friday, August 9th. Bank of America dropped their target price on HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $625.00 target price on shares of HubSpot in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $614.33.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares in the company, valued at $33,009,441.57. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Dawson Alyssa Harvey sold 384 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $467.23, for a total transaction of $179,416.32. Following the completion of the transaction, the insider now directly owns 9,735 shares of the company’s stock, valued at $4,548,484.05. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Yamini Rangan sold 116 shares of HubSpot stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the sale, the chief executive officer now directly owns 67,203 shares in the company, valued at $33,009,441.57. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,321 shares of company stock worth $3,374,089. 4.50% of the stock is owned by company insiders.

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.