Baker Avenue Asset Management LP Lowers Holdings in HubSpot, Inc. (NYSE:HUBS)

Baker Avenue Asset Management LP trimmed its position in HubSpot, Inc. (NYSE:HUBS) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,254 shares of the software maker’s stock after selling 218 shares during the quarter. Baker Avenue Asset Management LP’s holdings in HubSpot were worth $3,573,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Elequin Capital LP bought a new position in shares of HubSpot in the 4th quarter worth $27,000. Coppell Advisory Solutions LLC raised its position in shares of HubSpot by 91.7% in the 4th quarter. Coppell Advisory Solutions LLC now owns 46 shares of the software maker’s stock worth $32,000 after acquiring an additional 22 shares in the last quarter. Aster Capital Management DIFC Ltd raised its position in shares of HubSpot by 213.3% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 47 shares of the software maker’s stock worth $33,000 after acquiring an additional 32 shares in the last quarter. Cullen Frost Bankers Inc. raised its position in shares of HubSpot by 130.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock worth $34,000 after acquiring an additional 34 shares in the last quarter. Finally, N.E.W. Advisory Services LLC bought a new position in shares of HubSpot in the 1st quarter worth $35,000. 90.39% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

HUBS has been the subject of several recent research reports. BMO Capital Markets reduced their price target on HubSpot from $735.00 to $650.00 and set an “outperform” rating for the company in a research report on Friday, July 18th. Raymond James Financial reissued an “outperform” rating and issued a $825.00 price target (down from $980.00) on shares of HubSpot in a research report on Friday, May 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $900.00 target price on shares of HubSpot in a research report on Friday, May 9th. Citigroup upped their target price on HubSpot from $750.00 to $759.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, Jefferies Financial Group reduced their target price on HubSpot from $900.00 to $700.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $759.04.

HubSpot Stock Down 4.1%

Shares of HUBS opened at $498.33 on Friday. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13. The company has a market capitalization of $26.28 billion, a price-to-earnings ratio of -1,107.40, a PEG ratio of 18.90 and a beta of 1.67. The stock’s 50-day moving average price is $560.18 and its 200-day moving average price is $621.35.

Insider Transactions at HubSpot

In other news, CFO Kathryn Bueker sold 615 shares of the company’s stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $551.79, for a total value of $339,350.85. Following the sale, the chief financial officer owned 41,086 shares in the company, valued at $22,670,843.94. This represents a 1.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $543.07, for a total value of $4,616,095.00. Following the transaction, the director owned 522,435 shares in the company, valued at $283,718,775.45. This represents a 1.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,998 shares of company stock worth $10,928,616 over the last quarter. 4.50% of the stock is currently owned by 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.