Nicholas Investment Partners LP Grows Stake in HubSpot, Inc. (NYSE:HUBS)

Nicholas Investment Partners LP boosted its position in shares of HubSpot, Inc. (NYSE:HUBS) by 108.5% during the 4th quarter, HoldingsChannel reports. The firm owned 1,635 shares of the software maker’s stock after buying an additional 851 shares during the period. Nicholas Investment Partners LP’s holdings in HubSpot were worth $1,139,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in HubSpot by 1.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 3,246 shares of the software maker’s stock worth $2,262,000 after buying an additional 49 shares in the last quarter. Pallas Capital Advisors LLC raised its stake in shares of HubSpot by 1.9% during the 4th quarter. Pallas Capital Advisors LLC now owns 1,146 shares of the software maker’s stock worth $798,000 after acquiring an additional 21 shares in the last quarter. Miracle Mile Advisors LLC acquired a new position in shares of HubSpot during the fourth quarter worth $214,000. Park Avenue Securities LLC increased its position in HubSpot by 27.3% during the 4th quarter. Park Avenue Securities LLC now owns 1,811 shares of the software maker’s stock valued at $1,262,000 after buying an additional 388 shares in the last quarter. Finally, Retireful LLC acquired a new position in HubSpot during the 4th quarter valued at about $1,470,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 680 shares of the stock in a transaction on Thursday, April 24th. The stock was sold at an average price of $600.00, for a total transaction of $408,000.00. Following the sale, the chief executive officer now owns 71,693 shares of the company’s stock, valued at $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total value of $6,885,000.00. Following the sale, the insider now directly owns 524,751 shares in the company, valued at approximately $425,048,310. The trade was a 1.59% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,562 shares of company stock valued at $18,401,757. Insiders own 4.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays cut their price objective on shares of HubSpot from $815.00 to $745.00 and set an “overweight” rating on the stock in a report on Friday, May 9th. Truist Financial cut their price objective on HubSpot from $900.00 to $720.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Mizuho cut their price target on shares of HubSpot from $900.00 to $700.00 and set an “outperform” rating on the stock in a report on Tuesday, April 15th. William Blair reiterated an “outperform” rating on shares of HubSpot in a report on Thursday, February 13th. Finally, Royal Bank of Canada increased their price objective on shares of HubSpot from $825.00 to $950.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $767.33.

HubSpot Stock Down 0.6%

NYSE:HUBS opened at $668.01 on Thursday. The firm’s fifty day simple moving average is $585.20 and its 200-day simple moving average is $668.97. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The stock has a market cap of $35.16 billion, a PE ratio of 7,423.16, a price-to-earnings-growth ratio of 41.44 and a beta of 1.78.

HubSpot (NYSE:HUBS) last posted its earnings results on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing the consensus estimate of $2.18 by ($1.98). HubSpot had a net margin of 0.17% and a negative return on equity of 0.07%. Equities analysts anticipate 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.