Quantinno Capital Management LP grew its holdings in HubSpot, Inc. (NYSE:HUBS – Free Report) by 91.2% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 98,749 shares of the software maker’s stock after buying an additional 47,090 shares during the period. Quantinno Capital Management LP owned 0.19% of HubSpot worth $24,105,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in shares of HubSpot during the first quarter worth about $1,056,000. Family Manage LLC purchased a new stake in HubSpot during the 1st quarter valued at approximately $210,000. Ardmore Road Asset Management LP lifted its position in HubSpot by 108.3% during the 1st quarter. Ardmore Road Asset Management LP now owns 125,800 shares of the software maker’s stock worth $30,708,000 after acquiring an additional 65,409 shares during the period. Weiss Asset Management LP acquired a new stake in HubSpot during the 1st quarter worth approximately $1,292,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of HubSpot by 3.1% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 29,401 shares of the software maker’s stock valued at $7,177,000 after purchasing an additional 893 shares during the last quarter. Institutional investors and hedge funds own 90.39% of the company’s stock.
HubSpot Stock Up 1.9%
Shares of HUBS opened at $237.44 on Friday. The company has a 50-day simple moving average of $204.10 and a 200-day simple moving average of $233.35. The company has a market capitalization of $12.16 billion, a PE ratio of 124.31, a P/E/G ratio of 2.59 and a beta of 1.22. HubSpot, Inc. has a 52-week low of $169.63 and a 52-week high of $541.53.
Analyst Ratings Changes
A number of research analysts have recently issued reports on HUBS shares. Truist Financial dropped their target price on HubSpot from $300.00 to $230.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Morgan Stanley lowered their price objective on shares of HubSpot from $405.00 to $350.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. Royal Bank Of Canada dropped their price objective on shares of HubSpot from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Friday, May 8th. BMO Capital Markets cut their price objective on shares of HubSpot from $285.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, May 8th. Finally, Canaccord Genuity Group set a $335.00 target price on shares of HubSpot in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $307.86.
Check Out Our Latest Analysis on HUBS
Insider Buying and Selling at HubSpot
In related news, Director Lorrie M. Norrington acquired 1,313 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was purchased at an average price of $190.42 per share, for a total transaction of $250,021.46. Following the transaction, the director owned 2,838 shares in the company, valued at $540,411.96. This trade represents a 86.10% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Yamini Rangan bought 2,750 shares of the business’s stock in a transaction that occurred on Tuesday, May 12th. The stock was purchased at an average cost of $189.84 per share, with a total value of $522,060.00. Following the purchase, the chief executive officer directly owned 102,982 shares in the company, valued at $19,550,102.88. The trade was a 2.74% increase in their position. The SEC filing for this purchase provides additional information. Over the last quarter, insiders have acquired 14,063 shares of company stock valued at $2,585,781 and have sold 26,415 shares valued at $5,533,379. 3.70% of the stock is currently owned by insiders.
HubSpot Profile
HubSpot, Inc is a software company that develops a cloud-based customer relationship management (CRM) platform designed to help organizations attract, engage and delight customers. Its primary business activities center on providing integrated marketing, sales and customer service tools that support inbound marketing strategies, content management, lead nurturing, sales automation and customer support workflows.
The company’s product suite is organized around modular “hubs” built on a central CRM: Marketing Hub, Sales Hub, Service Hub, CMS Hub and Operations Hub.
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