HubSpot, Inc. (NYSE:HUBS) Shares Sold by Spyglass Capital Management LLC

Spyglass Capital Management LLC decreased its position in shares of HubSpot, Inc. (NYSE:HUBS) by 1.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 93,328 shares of the software maker’s stock after selling 1,436 shares during the quarter. HubSpot comprises about 3.3% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 17th largest holding. Spyglass Capital Management LLC owned about 0.18% of HubSpot worth $49,613,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA boosted its holdings in shares of HubSpot by 17.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 571,274 shares of the software maker’s stock valued at $303,689,000 after acquiring an additional 86,688 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of HubSpot by 8.2% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,061 shares of the software maker’s stock valued at $280,186,000 after acquiring an additional 40,138 shares during the period. Marshall Wace LLP boosted its holdings in shares of HubSpot by 88.7% during the second quarter. Marshall Wace LLP now owns 241,557 shares of the software maker’s stock valued at $142,468,000 after acquiring an additional 113,555 shares during the period. TimesSquare Capital Management LLC boosted its holdings in shares of HubSpot by 49.5% during the third quarter. TimesSquare Capital Management LLC now owns 207,842 shares of the software maker’s stock valued at $110,489,000 after acquiring an additional 68,827 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of HubSpot by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 194,538 shares of the software maker’s stock valued at $103,416,000 after acquiring an additional 4,331 shares during the period. Institutional investors and hedge funds own 90.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on HUBS shares. Truist Financial reaffirmed a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of HubSpot from $700.00 to $750.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Bank of America cut their price target on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a report on Thursday, August 8th. Citigroup cut their price target on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating for the company in a report on Friday, August 9th. Finally, Barclays upped their price target on shares of HubSpot from $500.00 to $650.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Five research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, HubSpot currently has an average rating of “Moderate Buy” and an average price target of $672.68.

HubSpot Trading Down 1.0 %

Shares of HUBS opened at $722.76 on Friday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $754.56. The business’s 50-day moving average is $593.23 and its 200-day moving average is $555.52.

HubSpot (NYSE:HUBS) last issued its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, beating analysts’ consensus estimates of $1.91 by $0.27. The company had revenue of $669.72 million for the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm’s quarterly revenue was up 20.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) EPS. Sell-side analysts predict that HubSpot, Inc. will post 0.4 EPS for the current fiscal year.

Insider Activity at HubSpot

In related news, CEO Yamini Rangan sold 116 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total value of $56,978.04. Following the completion of the sale, the chief executive officer now owns 67,203 shares of the company’s stock, valued at approximately $33,009,441.57. The trade was a 0.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Brian Halligan sold 8,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $661.59, for a total value of $5,623,515.00. Following the completion of the sale, the insider now directly owns 513,698 shares of the company’s stock, valued at approximately $339,857,459.82. The trade was a 1.63 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,391 shares of company stock valued at $29,101,488. 4.50% of the stock is owned by corporate insiders.

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.