Bank of New York Mellon Corp Decreases Stake in HubSpot, Inc. $HUBS

Bank of New York Mellon Corp lowered its stake in HubSpot, Inc. (NYSE:HUBS) by 11.1% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 548,194 shares of the software maker’s stock after selling 68,791 shares during the period. Bank of New York Mellon Corp’s holdings in HubSpot were worth $305,142,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Whittier Trust Co. increased its stake in shares of HubSpot by 136.4% in the second quarter. Whittier Trust Co. now owns 52 shares of the software maker’s stock worth $29,000 after buying an additional 30 shares during the period. Hilltop National Bank purchased a new position in shares of HubSpot in the second quarter valued at about $32,000. Cullen Frost Bankers Inc. raised its stake in shares of HubSpot by 130.8% during the first quarter. Cullen Frost Bankers Inc. now owns 60 shares of the software maker’s stock valued at $34,000 after acquiring an additional 34 shares during the last quarter. N.E.W. Advisory Services LLC purchased a new stake in shares of HubSpot during the first quarter worth about $35,000. Finally, GW&K Investment Management LLC grew its stake in shares of HubSpot by 203.8% in the first quarter. GW&K Investment Management LLC now owns 79 shares of the software maker’s stock worth $45,000 after purchasing an additional 53 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on HUBS. Truist Financial lowered their price target on HubSpot from $720.00 to $675.00 and set a “buy” rating for the company in a research report on Thursday, August 7th. JPMorgan Chase & Co. decreased their target price on HubSpot from $775.00 to $675.00 and set an “overweight” rating for the company in a report on Thursday, August 7th. KeyCorp dropped their price target on HubSpot from $860.00 to $775.00 and set an “overweight” rating for the company in a research note on Thursday, August 7th. BMO Capital Markets reduced their price objective on shares of HubSpot from $600.00 to $550.00 and set an “outperform” rating on the stock in a research report on Friday, October 24th. Finally, Sanford C. Bernstein upgraded shares of HubSpot from a “market perform” rating to an “outperform” rating and set a $606.00 price objective for the company in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $718.04.

Insider Buying and Selling at HubSpot

In related news, CFO Kathryn Bueker sold 615 shares of the firm’s stock in a transaction that occurred on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Yamini Rangan sold 2,387 shares of the business’s stock in a transaction on Monday, October 6th. The stock was sold at an average price of $500.00, for a total value of $1,193,500.00. Following the completion of the sale, the chief executive officer directly owned 56,277 shares in the company, valued at $28,138,500. This trade represents a 4.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 50,863 shares of company stock valued at $24,641,332 over the last ninety days. Company insiders own 4.00% of the company’s stock.

HubSpot Trading Down 4.7%

Shares of HubSpot stock opened at $471.11 on Wednesday. HubSpot, Inc. has a 12 month low of $418.34 and a 12 month high of $881.13. The firm has a market capitalization of $24.82 billion, a P/E ratio of -2,048.30, a P/E/G ratio of 17.09 and a beta of 1.60. The business has a fifty day simple moving average of $478.50 and a two-hundred day simple moving average of $530.21.

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

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.