HighVista Strategies LLC Makes New $1.24 Million Investment in HubSpot, Inc. (NYSE:HUBS)

HighVista Strategies LLC purchased a new stake in HubSpot, Inc. (NYSE:HUBS) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 2,100 shares of the software maker’s stock, valued at approximately $1,239,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Gilbert & Cook Inc. increased its position in shares of HubSpot by 60.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,965 shares of the software maker’s stock valued at $1,141,000 after purchasing an additional 737 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of HubSpot by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 71,428 shares of the software maker’s stock worth $41,470,000 after purchasing an additional 631 shares during the last quarter. Avantax Advisory Services Inc. acquired a new stake in shares of HubSpot in the 4th quarter worth $200,000. PNC Financial Services Group Inc. boosted its holdings in HubSpot by 74.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,646 shares of the software maker’s stock valued at $2,117,000 after purchasing an additional 1,560 shares in the last quarter. Finally, Coldstream Capital Management Inc. acquired a new position in HubSpot during the fourth quarter worth $250,000. Hedge funds and other institutional investors own 90.39% of the company’s stock.

HubSpot Stock Performance

HubSpot stock opened at $526.88 on Monday. The firm has a market capitalization 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. The company has a 50-day simple moving average of $489.80 and a 200-day simple moving average of $565.89. HubSpot, Inc. has a one year low of $407.23 and a one year high of $693.85.

HubSpot (NYSE:HUBS) last announced its quarterly earnings results on Wednesday, August 7th. The software maker reported $1.94 EPS for the quarter, beating the consensus estimate of $1.64 by $0.30. The company had revenue of $637.20 million for 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%. HubSpot’s revenue was up 20.4% compared to the same quarter last year. During the same quarter last year, the business earned ($1.17) earnings per share. As a group, sell-side analysts forecast that HubSpot, Inc. will post 0.01 earnings per share for the current year.

Insider Buying and Selling at HubSpot

In related 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 transaction of $1,705,485.60. Following the sale, the chief executive officer now directly owns 68,037 shares in the company, valued at $40,332,333.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Yamini Rangan sold 2,877 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $592.80, for a total transaction of $1,705,485.60. Following the sale, the chief executive officer now owns 68,037 shares of the company’s stock, valued at $40,332,333.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Kathryn Bueker sold 1,135 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $592.80, for a total value of $672,828.00. Following the transaction, the chief financial officer now directly owns 44,715 shares of the company’s stock, valued at $26,507,052. The disclosure for this sale can be found here. Insiders have sold 38,012 shares of company stock valued at $21,300,253 in the last quarter. Corporate insiders own 4.50% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on HUBS shares. Bank of America dropped their price objective on HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Citigroup decreased their target price on shares of HubSpot from $699.00 to $629.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Oppenheimer reaffirmed an “outperform” rating and set a $625.00 price target on shares of HubSpot in a research note on Thursday. Raymond James reduced their price objective on HubSpot from $725.00 to $675.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $570.00 price target on shares of HubSpot in a research note on Thursday. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.