Skandinaviska Enskilda Banken AB publ Cuts Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,362 shares of the software maker’s stock after selling 509 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in HubSpot were worth $6,701,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of HUBS. Wellington Management Group LLP raised its stake in HubSpot by 50.3% during the fourth quarter. Wellington Management Group LLP now owns 1,874,322 shares of the software maker’s stock worth $1,088,119,000 after purchasing an additional 626,977 shares during the period. Jennison Associates LLC raised its stake in HubSpot by 62.1% during the first quarter. Jennison Associates LLC now owns 1,577,511 shares of the software maker’s stock worth $988,406,000 after purchasing an additional 604,554 shares during the period. Twin Focus Capital Partners LLC raised its stake in HubSpot by 92,828.2% during the fourth quarter. Twin Focus Capital Partners LLC now owns 487,873 shares of the software maker’s stock worth $283,230,000 after purchasing an additional 487,348 shares during the period. Point72 Asset Management L.P. purchased a new position in HubSpot during the fourth quarter worth approximately $114,983,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of HubSpot by 10.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,933,629 shares of the software maker’s stock valued at $1,211,535,000 after acquiring an additional 176,336 shares during the period. Hedge funds and other institutional investors own 90.39% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Yamini Rangan sold 2,877 shares of HubSpot stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $1,705,485.60. Following the completion of the transaction, the chief executive officer now directly owns 68,037 shares of the company’s stock, valued at approximately $40,332,333.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Kathryn Bueker sold 1,135 shares of HubSpot stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $672,828.00. Following the completion of the transaction, the chief financial officer now directly owns 44,715 shares of the company’s stock, valued at approximately $26,507,052. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Yamini Rangan sold 2,877 shares of HubSpot stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the completion of the transaction, the chief executive officer now directly owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The disclosure for this sale can be found here. Insiders sold a total of 38,012 shares of company stock valued at $21,300,253 in the last ninety days. Corporate insiders own 4.50% of the company’s stock.

HubSpot Price Performance

Shares of HUBS stock opened at $526.88 on Friday. The firm has a market cap of $26.85 billion, a P/E ratio of -198.82, a P/E/G ratio of 3,140.82 and a beta of 1.63. HubSpot, Inc. has a 1-year low of $407.23 and a 1-year high of $693.85. The firm has a fifty day moving average of $489.80 and a two-hundred day moving average of $566.20.

HubSpot (NYSE:HUBS) last announced its quarterly earnings data on Wednesday, August 7th. The software maker reported $1.94 earnings per share for the quarter, topping the consensus estimate of $1.64 by $0.30. The company had revenue of $637.20 million during the quarter, compared to analyst estimates of $619.28 million. HubSpot had a negative net margin of 1.15% and a negative return on equity of 2.33%. The firm’s revenue for the quarter was up 20.4% compared to the same quarter last year. During the same period last year, the business earned ($1.17) EPS. On average, sell-side analysts expect that HubSpot, Inc. will post 0.01 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Evercore ISI cut their target price on shares of HubSpot from $650.00 to $550.00 and set an “in-line” rating on the stock in a research note on Thursday, August 8th. Wells Fargo & Company cut their target price on shares of HubSpot from $650.00 to $625.00 and set an “overweight” rating on the stock in a research note on Thursday, August 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $700.00 target price on shares of HubSpot in a research note on Thursday. Bank of America cut their target price on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler reissued an “overweight” rating and issued a $570.00 target price on shares of HubSpot in a research note on Thursday. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $610.79.

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.