Anthracite Investment Company Inc. Reduces Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Anthracite Investment Company Inc. reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 37.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,000 shares of the software maker’s stock after selling 1,800 shares during the quarter. Anthracite Investment Company Inc.’s holdings in HubSpot were worth $2,090,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP boosted its holdings in shares of HubSpot by 52.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,402,200 shares of the software maker’s stock valued at $745,410,000 after buying an additional 480,796 shares in the last quarter. Raymond James Financial Inc. bought a new stake in HubSpot during the fourth quarter worth about $157,019,000. Wealthfront Advisers LLC grew its holdings in HubSpot by 3,090.2% in the fourth quarter. Wealthfront Advisers LLC now owns 133,543 shares of the software maker’s stock worth $93,049,000 after purchasing an additional 129,357 shares during the period. Proficio Capital Partners LLC bought a new position in shares of HubSpot during the fourth quarter valued at approximately $79,135,000. Finally, State of Michigan Retirement System lifted its holdings in shares of HubSpot by 87.7% during the fourth quarter. State of Michigan Retirement System now owns 106,400 shares of the software maker’s stock valued at $74,136,000 after purchasing an additional 49,700 shares during the last quarter. 90.39% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on HubSpot from $635.00 to $725.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. UBS Group upgraded HubSpot from a “hold” rating to a “strong-buy” rating in a report on Wednesday, February 19th. Oppenheimer upped their price target on shares of HubSpot from $850.00 to $900.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. Stephens started coverage on shares of HubSpot in a research note on Wednesday, March 19th. They set an “overweight” rating and a $769.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on shares of HubSpot from $835.00 to $940.00 and gave the stock an “overweight” rating in a research note on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $848.58.

HubSpot Stock Performance

Shares of HubSpot stock opened at $625.15 on Wednesday. HubSpot, Inc. has a fifty-two week low of $434.84 and a fifty-two week high of $881.13. The company has a market capitalization of $32.60 billion, a P/E ratio of 6,946.88, a P/E/G ratio of 41.44 and a beta of 1.80. The company has a fifty day moving average of $712.30 and a 200 day moving average of $658.03.

HubSpot (NYSE:HUBS) last released its quarterly earnings data on Wednesday, February 12th. The software maker reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $2.18 by ($1.98). HubSpot had a negative return on equity of 0.07% and a net margin of 0.17%. Analysts forecast that HubSpot, Inc. will post 1.01 EPS for the current year.

Insider Transactions at HubSpot

In other HubSpot news, Director Lorrie M. Norrington sold 572 shares of HubSpot stock in a transaction that occurred on Friday, December 27th. The stock was sold at an average price of $721.60, for a total value of $412,755.20. Following the sale, the director now owns 1,125 shares of the company’s stock, valued at $811,800. The trade was a 33.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Brian Halligan sold 8,500 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $810.00, for a total value of $6,885,000.00. Following the transaction, the insider now owns 524,751 shares of the company’s stock, valued at $425,048,310. This represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 22,425 shares of company stock valued at $15,866,151. 4.50% of the stock is currently 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.