Kornitzer Capital Management Inc. KS Purchases 3,000 Shares of HubSpot, Inc. $HUBS

Kornitzer Capital Management Inc. KS increased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 25.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,000 shares of the software maker’s stock after buying an additional 3,000 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in HubSpot were worth $8,349,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Venturi Wealth Management LLC increased its stake in shares of HubSpot by 1.1% during the 1st quarter. Venturi Wealth Management LLC now owns 1,507 shares of the software maker’s stock worth $861,000 after purchasing an additional 16 shares during the last quarter. WCM Investment Management LLC grew its holdings in HubSpot by 0.6% during the first quarter. WCM Investment Management LLC now owns 2,668 shares of the software maker’s stock worth $1,553,000 after purchasing an additional 17 shares during the period. Ballentine Partners LLC increased its position in HubSpot by 3.5% during the first quarter. Ballentine Partners LLC now owns 584 shares of the software maker’s stock worth $334,000 after buying an additional 20 shares during the last quarter. Apollon Wealth Management LLC lifted its position in shares of HubSpot by 5.2% in the first quarter. Apollon Wealth Management LLC now owns 405 shares of the software maker’s stock valued at $231,000 after buying an additional 20 shares during the last quarter. Finally, QRG Capital Management Inc. boosted its stake in shares of HubSpot by 5.9% during the 2nd quarter. QRG Capital Management Inc. now owns 434 shares of the software maker’s stock worth $242,000 after acquiring an additional 24 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on HUBS shares. Truist Financial dropped their price target on HubSpot from $720.00 to $675.00 and set a “buy” rating on the stock in a research note on Thursday, August 7th. Weiss Ratings reiterated a “sell (e+)” rating on shares of HubSpot in a research note on Tuesday, October 14th. Macquarie dropped their price target on HubSpot from $730.00 to $660.00 and set an “outperform” rating for the company in a report on Thursday, August 7th. Sanford C. Bernstein raised HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price objective on the stock in a report on Wednesday, September 3rd. Finally, Raymond James Financial reduced their target price on shares of HubSpot from $825.00 to $655.00 and set an “outperform” rating for the company in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $717.75.

Insiders Place Their Bets

In other HubSpot news, CTO Dharmesh Shah sold 17,253 shares of the business’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $500.66, for a total transaction of $8,637,886.98. Following the completion of the transaction, the chief technology officer owned 1,275,805 shares of the company’s stock, valued at approximately $638,744,531.30. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Kathryn Bueker sold 615 shares of the stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $500.00, for a total transaction of $307,500.00. Following the completion of the transaction, the chief financial officer directly owned 38,794 shares of the company’s stock, valued at $19,397,000. This trade represents a 1.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,863 shares of company stock worth $24,641,332. Insiders own 4.00% of the company’s stock.

HubSpot Stock Down 1.3%

HUBS stock opened at $469.72 on Friday. The firm has a market cap of $24.75 billion, a P/E ratio of -2,042.26, a P/E/G ratio of 16.20 and a beta of 1.58. The company’s 50-day moving average price is $475.71 and its two-hundred day moving average price is $533.27. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, August 6th. The software maker reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.12 by $0.07. HubSpot had a positive return on equity of 1.74% and a negative net margin of 0.42%.The firm had revenue of $760.87 million during the quarter, compared to analysts’ expectations of $739.94 million. During the same period in the prior year, the company earned $1.94 earnings per share. The company’s quarterly revenue was up 19.4% on a year-over-year basis. Equities analysts predict that HubSpot, Inc. will post 1.01 EPS for the current year.

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.