Victory Capital Management Inc. Acquires 416 Shares of HubSpot, Inc. (NYSE:HUBS)

Victory Capital Management Inc. boosted its holdings in shares of HubSpot, Inc. (NYSE:HUBS) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 24,620 shares of the software maker’s stock after acquiring an additional 416 shares during the period. Victory Capital Management Inc.’s holdings in HubSpot were worth $13,088,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD increased its position in shares of HubSpot by 10.0% in the first 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 last quarter. Fred Alger Management LLC raised its position in HubSpot by 516.2% during the second quarter. Fred Alger Management LLC now owns 163,291 shares of the software maker’s stock valued at $96,307,000 after purchasing an additional 136,793 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of HubSpot by 214,342.4% during the third quarter. International Assets Investment Management LLC now owns 126,521 shares of the software maker’s stock worth $672,590,000 after buying an additional 126,462 shares in the last quarter. Marshall Wace LLP increased 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 worth $142,468,000 after buying an additional 113,555 shares in the last quarter. Finally, Dorsal Capital Management LP acquired a new position in shares of HubSpot during the second quarter worth $44,234,000. Institutional investors and hedge funds own 90.39% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Stifel Nicolaus increased their price objective on HubSpot from $600.00 to $625.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. BMO Capital Markets raised their price target on shares of HubSpot from $570.00 to $690.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Oppenheimer raised their price target on shares of HubSpot from $625.00 to $740.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Truist Financial reiterated a “buy” rating and issued a $750.00 price objective (up previously from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Finally, Bank of America decreased their price target on shares of HubSpot from $650.00 to $580.00 and set a “buy” rating for the company in a research note on Thursday, August 8th. Five analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, HubSpot currently has a consensus rating of “Moderate Buy” and a consensus target price of $672.68.

Insiders Place Their Bets

In other HubSpot news, CTO Dharmesh Shah sold 25,000 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $672.62, for a total value of $16,815,500.00. Following the transaction, the chief technology officer now directly owns 1,323,145 shares in the company, valued at approximately $889,973,789.90. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Yamini Rangan sold 116 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $491.19, for a total transaction of $56,978.04. Following the completion of the transaction, the chief executive officer now owns 67,203 shares in the company, valued at $33,009,441.57. The trade was a 0.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 44,391 shares of company stock worth $29,101,488. Company insiders own 4.50% of the company’s stock.

HubSpot Stock Up 1.8 %

Shares of NYSE:HUBS opened at $695.00 on Thursday. The company’s fifty day moving average is $565.99 and its 200 day moving average is $549.90. HubSpot, Inc. has a 52 week low of $434.84 and a 52 week high of $724.61. The stock has a market cap of $35.88 billion, a PE ratio of -2,573.98, a PEG ratio of 82.30 and a beta of 1.63.

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

HubSpot Company Profile

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.