Janney Montgomery Scott LLC Trims Stock Holdings in HubSpot, Inc. (NYSE:HUBS)

Janney Montgomery Scott LLC reduced its stake in shares of HubSpot, Inc. (NYSE:HUBS) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,566 shares of the software maker’s stock after selling 578 shares during the period. Janney Montgomery Scott LLC’s holdings in HubSpot were worth $5,969,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in HUBS. GDS Wealth Management purchased a new position in HubSpot during the third quarter valued at $2,149,000. Pallas Capital Advisors LLC bought a new position in shares of HubSpot during the 3rd quarter valued at about $624,000. Icon Wealth Advisors LLC grew its position in shares of HubSpot by 3,346.2% during the third quarter. Icon Wealth Advisors LLC now owns 21,091 shares of the software maker’s stock valued at $11,212,000 after purchasing an additional 20,479 shares in the last quarter. Curi RMB Capital LLC increased 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 lifted its position 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 buying an additional 9,919 shares in the last quarter. 90.39% of the stock is currently owned by institutional investors.

HubSpot Price Performance

Shares of HUBS stock opened at $794.37 on Wednesday. HubSpot, Inc. has a 12-month low of $434.84 and a 12-month high of $811.79. The firm has a market capitalization of $41.01 billion, a price-to-earnings ratio of -2,942.02, a price-to-earnings-growth ratio of 40.57 and a beta of 1.70. The business has a 50 day simple moving average of $718.65 and a 200 day simple moving average of $593.59.

HubSpot (NYSE:HUBS) last released its earnings results on Wednesday, November 6th. The software maker reported $2.18 earnings per share for the quarter, topping analysts’ consensus estimates of $1.91 by $0.27. The firm had revenue of $669.72 million during the quarter, compared to the consensus estimate of $646.97 million. HubSpot had a negative return on equity of 1.16% and a negative net margin of 0.56%. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.04) earnings per share. On average, equities analysts anticipate that HubSpot, Inc. will post 0.42 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on HUBS shares. Stifel Nicolaus raised their target price on shares of HubSpot from $750.00 to $880.00 and gave the company a “buy” rating in a report on Monday, December 9th. Truist Financial reissued a “buy” rating and set a $750.00 price objective (up from $600.00) on shares of HubSpot in a research note on Friday, November 8th. Piper Sandler downgraded shares of HubSpot from an “overweight” rating to a “neutral” rating and increased their target price for the company from $570.00 to $640.00 in a research note on Thursday, November 7th. Wells Fargo & Company raised their price objective on shares of HubSpot from $750.00 to $810.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Finally, The Goldman Sachs Group boosted their target price on HubSpot from $626.00 to $690.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, HubSpot presently has a consensus rating of “Moderate Buy” and a consensus price target of $724.52.

Insider Activity at HubSpot

In related news, CTO Dharmesh Shah sold 25,000 shares of HubSpot stock in a transaction 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 owns 1,323,145 shares in the company, valued at $889,973,789.90. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Kathryn Bueker sold 1,796 shares of the stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $701.59, for a total value of $1,260,055.64. Following the sale, the chief financial officer now owns 38,560 shares of the company’s stock, valued at approximately $27,053,310.40. The trade was a 4.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,066 shares of company stock valued at $54,900,427. Insiders own 4.50% of the company’s stock.

HubSpot 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.