Truist Financial Corp Trims Stake in HubSpot, Inc. (NYSE:HUBS)

Truist Financial Corp lowered its position in HubSpot, Inc. (NYSE:HUBS) by 8.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,608 shares of the software maker’s stock after selling 883 shares during the quarter. Truist Financial Corp’s holdings in HubSpot were worth $6,695,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in HUBS. GDS Wealth Management bought a new position in shares of HubSpot in the third quarter worth about $2,149,000. Pallas Capital Advisors LLC bought a new position in shares of HubSpot in the third quarter worth about $624,000. Icon Wealth Advisors LLC grew its holdings in shares of HubSpot by 3,346.2% in the third quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock worth $11,212,000 after purchasing an additional 20,479 shares during the last quarter. Curi RMB Capital LLC grew its holdings in shares of HubSpot by 15.1% in the third quarter. Curi RMB Capital LLC now owns 7,143 shares of the software maker’s stock worth $3,797,000 after purchasing an additional 937 shares during the last quarter. Finally, Advantage Alpha Capital Partners LP grew its holdings in shares of HubSpot by 113.4% in the third quarter. Advantage Alpha Capital Partners LP now owns 18,666 shares of the software maker’s stock worth $9,923,000 after purchasing an additional 9,919 shares during the last quarter. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insider Activity at HubSpot

In other HubSpot news, CEO Yamini Rangan sold 115 shares of the firm’s stock in a transaction that occurred on Tuesday, December 3rd. The shares were sold at an average price of $713.79, for a total transaction of $82,085.85. Following the completion of the transaction, the chief executive officer now directly owns 61,179 shares of the company’s stock, valued at approximately $43,668,958.41. This trade represents a 0.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Dharmesh Shah sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $739.89, for a total transaction of $18,497,250.00. Following the transaction, the chief technology officer now directly owns 1,272,077 shares of the company’s stock, valued at $941,197,051.53. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 48,112 shares of company stock valued at $35,878,612 in the last three months. 4.50% of the stock is owned by insiders.

HubSpot Stock Down 2.9 %

Shares of HubSpot stock opened at $726.43 on Friday. The firm has a market capitalization of $37.88 billion, a P/E ratio of 8,072.32, a PEG ratio of 41.44 and a beta of 1.72. The company has a 50 day moving average price of $739.92 and a 200 day moving average price of $631.52. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $881.13.

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

Wall Street Analyst Weigh In

HUBS has been the topic of a number of research analyst reports. UBS Group upgraded shares of HubSpot from a “hold” rating to a “strong-buy” rating in a report on Wednesday. Evercore ISI increased their target price on shares of HubSpot from $610.00 to $700.00 and gave the stock an “in-line” rating in a report on Thursday, November 7th. Citigroup increased their target price on shares of HubSpot from $750.00 to $900.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Canaccord Genuity Group increased their target price on shares of HubSpot from $710.00 to $900.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Finally, Scotiabank increased their target price on shares of HubSpot from $825.00 to $900.00 and gave the stock a “sector outperform” rating in a report on Thursday, February 13th. Four analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $863.96.

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.