Zurich Insurance Group Ltd FI Makes New $43.78 Million Investment in HubSpot, Inc. (NYSE:HUBS)

Zurich Insurance Group Ltd FI bought a new position in shares of HubSpot, Inc. (NYSE:HUBS) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 62,830 shares of the software maker’s stock, valued at approximately $43,778,000.

Other hedge funds also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its holdings in HubSpot by 168.8% during the 4th quarter. Larson Financial Group LLC now owns 43 shares of the software maker’s stock worth $30,000 after buying an additional 27 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in HubSpot by 73.1% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 45 shares of the software maker’s stock worth $31,000 after buying an additional 19 shares in the last quarter. Coppell Advisory Solutions LLC lifted its holdings in HubSpot by 91.7% during the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock worth $32,000 after buying an additional 22 shares in the last quarter. Aster Capital Management DIFC Ltd lifted its holdings in HubSpot by 213.3% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock worth $33,000 after buying an additional 32 shares in the last quarter. Finally, Bank of Jackson Hole Trust acquired a new stake in HubSpot during the 4th quarter worth approximately $35,000. 90.39% of the stock is currently owned by institutional investors and hedge funds.

HubSpot Stock Performance

HUBS stock opened at $647.44 on Tuesday. HubSpot, Inc. has a one year low of $434.84 and a one year high of $881.13. The stock has a market capitalization of $34.08 billion, a PE ratio of 7,194.58, a price-to-earnings-growth ratio of 41.44 and a beta of 1.78. The company has a fifty day moving average of $588.90 and a 200-day moving average of $672.51.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 680 shares of the firm’s stock in a transaction dated Thursday, April 24th. The shares were sold at an average price of $600.00, for a total value of $408,000.00. Following the completion of the sale, the chief executive officer now owns 71,693 shares in the company, valued at $43,015,800. This trade represents a 0.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Brian Halligan sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $607.48, for a total transaction of $5,163,580.00. Following the completion of the sale, the insider now owns 527,233 shares of the company’s stock, valued at $320,283,502.84. This trade represents a 1.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,062 shares of company stock worth $11,516,757 over the last 90 days. Company insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

HUBS has been the topic of a number of research reports. William Blair reiterated an “outperform” rating on shares of HubSpot in a report on Thursday, February 13th. Truist Financial dropped their price objective on shares of HubSpot from $900.00 to $720.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Oppenheimer increased their price objective on shares of HubSpot from $700.00 to $750.00 and gave the company an “outperform” rating in a research report on Friday, May 9th. Sanford C. Bernstein began coverage on shares of HubSpot in a research report on Thursday, March 20th. They issued a “market perform” rating and a $693.00 price objective on the stock. Finally, Raymond James reissued an “outperform” rating and issued a $825.00 price objective (down from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Five investment 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. According to data from MarketBeat.com, HubSpot currently has a consensus rating of “Moderate Buy” and an average target price of $767.33.

About HubSpot

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.